Emerald Mutual Fund Advisers Trust Acquires 9,336 Shares of Fabrinet (NYSE:FN)

Emerald Mutual Fund Advisers Trust increased its position in shares of Fabrinet (NYSE:FN - Free Report) by 12.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 85,983 shares of the technology company's stock after purchasing an additional 9,336 shares during the period. Emerald Mutual Fund Advisers Trust owned 0.24% of Fabrinet worth $16,983,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Berbice Capital Management LLC purchased a new position in Fabrinet in the first quarter worth approximately $30,000. Wayfinding Financial LLC acquired a new position in shares of Fabrinet in the 1st quarter valued at $30,000. Private Trust Co. NA increased its holdings in shares of Fabrinet by 44.3% in the 1st quarter. Private Trust Co. NA now owns 166 shares of the technology company's stock valued at $33,000 after acquiring an additional 51 shares during the period. Versant Capital Management Inc increased its holdings in shares of Fabrinet by 353.7% in the 1st quarter. Versant Capital Management Inc now owns 186 shares of the technology company's stock valued at $37,000 after acquiring an additional 145 shares during the period. Finally, Huntington National Bank increased its stake in Fabrinet by 66.7% in the 4th quarter. Huntington National Bank now owns 230 shares of the technology company's stock valued at $51,000 after buying an additional 92 shares during the period. 97.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Fabrinet

In other news, Director Rollance E. Olson sold 2,500 shares of the company's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $223.98, for a total value of $559,950.00. Following the transaction, the director owned 23,201 shares in the company, valued at $5,196,559.98. This represents a 9.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Harpal Gill sold 18,675 shares of the company's stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $240.00, for a total value of $4,482,000.00. Following the completion of the transaction, the chief operating officer owned 18,068 shares in the company, valued at $4,336,320. This represents a 50.83% decrease in their position. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by corporate insiders.

Fabrinet Trading Up 1.8%

FN stock traded up $5.41 during trading on Tuesday, hitting $301.87. The company had a trading volume of 548,885 shares, compared to its average volume of 649,193. The firm has a market capitalization of $10.82 billion, a price-to-earnings ratio of 33.62 and a beta of 1.04. The business has a 50 day moving average of $251.75 and a 200 day moving average of $225.32. Fabrinet has a fifty-two week low of $148.55 and a fifty-two week high of $312.69.

Fabrinet (NYSE:FN - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The technology company reported $2.52 earnings per share for the quarter, topping the consensus estimate of $2.47 by $0.05. The business had revenue of $871.80 million during the quarter, compared to the consensus estimate of $857.12 million. Fabrinet had a net margin of 10.00% and a return on equity of 17.99%. The company's quarterly revenue was up 19.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.39 earnings per share. As a group, equities analysts predict that Fabrinet will post 9.4 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on FN. B. Riley raised shares of Fabrinet from a "sell" rating to a "neutral" rating and lowered their price target for the stock from $178.00 to $176.00 in a research note on Friday, April 4th. Needham & Company LLC restated a "buy" rating and issued a $280.00 target price on shares of Fabrinet in a report on Tuesday, May 6th. JPMorgan Chase & Co. increased their price objective on shares of Fabrinet from $220.00 to $235.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. Rosenblatt Securities increased their price objective on shares of Fabrinet from $250.00 to $290.00 and gave the stock a "buy" rating in a report on Thursday, June 12th. Finally, Wolfe Research began coverage on shares of Fabrinet in a research report on Tuesday, July 8th. They set a "peer perform" rating for the company. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Fabrinet presently has an average rating of "Hold" and a consensus target price of $247.50.

Fabrinet Profile

Fabrinet provides optical packaging and precision optical, electro-mechanical, and electronic manufacturing services in North America, the Asia-Pacific, and Europe. The company offers a range of advanced optical and electro-mechanical capabilities in the manufacturing process, including process design and engineering, supply chain management, manufacturing, printed circuit board assembly, advanced packaging, integration, final assembly, and testing.