Fabrinet (NYSE:FN) Shares Bought by EULAV Asset Management

EULAV Asset Management raised its stake in shares of Fabrinet (NYSE:FN - Free Report) by 2.1% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 71,700 shares of the technology company's stock after purchasing an additional 1,500 shares during the period. EULAV Asset Management owned 0.20% of Fabrinet worth $14,161,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of FN. Norges Bank purchased a new stake in shares of Fabrinet during the fourth quarter worth about $95,084,000. Capital Research Global Investors boosted its stake in 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 buying an additional 363,228 shares during the last quarter. Wasatch Advisors LP boosted its holdings in shares of Fabrinet by 47.0% in the 4th quarter. Wasatch Advisors LP now owns 1,132,636 shares of the technology company's stock worth $249,044,000 after purchasing an additional 362,064 shares during the period. FMR LLC boosted its holdings in shares of Fabrinet by 13.1% in the 4th quarter. FMR LLC now owns 2,213,887 shares of the technology company's stock worth $486,789,000 after purchasing an additional 257,164 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in shares of Fabrinet by 205.2% in the 4th 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. Institutional investors own 97.38% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on FN. B. Riley upgraded Fabrinet from a "sell" rating to a "neutral" rating and dropped their price objective for the company from $178.00 to $176.00 in a report on Friday, April 4th. Rosenblatt Securities boosted their price objective on Fabrinet from $250.00 to $290.00 and gave the company a "buy" rating in a report on Thursday, June 12th. JPMorgan Chase & Co. boosted their price objective on Fabrinet from $220.00 to $235.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. Needham & Company LLC restated a "buy" rating and set a $280.00 price objective on shares of Fabrinet in a report on Tuesday, May 6th. Finally, Barclays set a $234.00 price objective on Fabrinet and gave the company an "equal weight" rating in a report on Tuesday, May 6th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $247.50.

Fabrinet Price Performance

Shares of FN stock traded down $8.50 during mid-day trading on Monday, hitting $286.16. The stock had a trading volume of 536,522 shares, compared to its average volume of 645,932. Fabrinet has a 12-month low of $148.55 and a 12-month high of $300.29. The firm has a market capitalization of $10.25 billion, a P/E ratio of 31.87 and a beta of 1.04. The firm's 50-day moving average is $242.38 and its two-hundred day moving average is $222.48.

Fabrinet (NYSE:FN - Get Free Report) last issued its earnings results 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. Fabrinet had a return on equity of 17.99% and a net margin of 10.00%. The business had revenue of $871.80 million during the quarter, compared to analysts' expectations of $857.12 million. During the same period in the prior year, the business earned $2.39 EPS. The business's revenue for the quarter was up 19.2% compared to the same quarter last year. Analysts expect that Fabrinet will post 9.4 EPS for the current year.

Insider Buying and Selling at Fabrinet

In other news, Director Rollance E. Olson sold 2,500 shares of the business's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $223.98, for a total value of $559,950.00. Following the completion of the transaction, the director directly 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Harpal Gill sold 18,675 shares of the business's stock in a transaction on Wednesday, June 4th. The stock was 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 directly owned 18,068 shares of the company's stock, valued at approximately $4,336,320. The trade was a 50.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.38% of the company's stock.

Fabrinet Company 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.