EULAV Asset Management Raises Stock Holdings in Fabrinet (NYSE:FN)

EULAV Asset Management increased its stake in Fabrinet (NYSE:FN - Free Report) by 2.1% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 71,700 shares of the technology company's stock after purchasing an additional 1,500 shares during the quarter. EULAV Asset Management owned 0.20% of Fabrinet worth $14,161,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Norges Bank acquired a new stake in shares of Fabrinet during the 4th quarter worth about $95,084,000. Capital Research Global Investors raised its stake in shares of Fabrinet by 675.2% during the fourth quarter. Capital Research Global Investors now owns 417,020 shares of the technology company's stock valued at $91,694,000 after purchasing an additional 363,228 shares during the period. Wasatch Advisors LP increased its stake in shares of Fabrinet by 47.0% in the fourth quarter. Wasatch Advisors LP now owns 1,132,636 shares of the technology company's stock worth $249,044,000 after buying an additional 362,064 shares during the last quarter. FMR LLC increased its stake in shares of Fabrinet by 13.1% in the fourth quarter. FMR LLC now owns 2,213,887 shares of the technology company's stock worth $486,789,000 after buying an additional 257,164 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in Fabrinet by 205.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 267,228 shares of the technology company's stock worth $58,758,000 after purchasing an additional 179,679 shares during the period. Hedge funds and other institutional investors own 97.38% of the company's stock.

Fabrinet Stock Up 1.6%

FN traded up $4.63 during trading on Thursday, hitting $289.84. The company's stock had a trading volume of 408,757 shares, compared to its average volume of 647,135. Fabrinet has a twelve month low of $148.55 and a twelve month high of $300.29. The stock's fifty day moving average price is $247.23 and its 200-day moving average price is $223.80. The firm has a market capitalization of $10.38 billion, a P/E ratio of 32.28 and a beta of 1.04.

Fabrinet (NYSE:FN - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The technology company reported $2.52 earnings per share (EPS) 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 return on equity of 17.99% and a net margin of 10.00%. Fabrinet's 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. Equities research analysts expect that Fabrinet will post 9.4 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Wolfe Research initiated coverage on shares of Fabrinet in a research report on Tuesday. They issued a "peer perform" rating for the company. B. Riley upgraded shares of Fabrinet from a "sell" rating to a "neutral" rating and lowered their price objective for the stock from $178.00 to $176.00 in a research note on Friday, April 4th. Needham & Company LLC reaffirmed a "buy" rating and issued a $280.00 target price on shares of Fabrinet in a research report on Tuesday, May 6th. Barclays set a $234.00 price target on Fabrinet and gave the company an "equal weight" rating in a report on Tuesday, May 6th. Finally, Rosenblatt Securities lifted their price target on Fabrinet from $250.00 to $290.00 and gave the company a "buy" rating in a report on Thursday, June 12th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $247.50.

Insider Activity

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

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.