Fabrinet $FN Shares Acquired by Quantinno Capital Management LP

Key Points

• Quantinno Capital Management increased its Fabrinet position by 130.8% in the first quarter, owning 7,039 shares valued at approximately $3.67 million. Institutional investors collectively hold 97.38% of the company.
• Fabrinet shares opened at $561.84, with a market capitalization of $20.13 billion and a P/E ratio of 48.27. The stock has traded between $272.49 and $748.89 over the past year.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $643.00; six analysts rate the stock Buy and four rate it Hold. Director Homa Bahrami separately sold 2,500 shares for about $1.78 million.

Quantinno Capital Management LP raised its position in shares of Fabrinet (NYSE:FN - Free Report) by 130.8% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,039 shares of the technology company's stock after buying an additional 3,989 shares during the quarter. Quantinno Capital Management LP's holdings in Fabrinet were worth $3,671,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of FN. Price T Rowe Associates Inc. MD increased its holdings in shares of Fabrinet by 163.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,041,227 shares of the technology company's stock valued at $1,839,891,000 after acquiring an additional 2,504,841 shares during the last quarter. Wasatch Advisors LP lifted its stake in Fabrinet by 45.1% during the second quarter. Wasatch Advisors LP now owns 1,779,665 shares of the technology company's stock worth $524,432,000 after purchasing an additional 553,196 shares during the last quarter. Norges Bank acquired a new position in Fabrinet in the fourth quarter worth $193,766,000. JPMorgan Chase & Co. increased its stake in Fabrinet by 64.8% during the fourth quarter. JPMorgan Chase & Co. now owns 1,065,414 shares of the technology company's stock valued at $485,063,000 after purchasing an additional 419,081 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its holdings in shares of Fabrinet by 183.5% during the third quarter. Arrowstreet Capital Limited Partnership now owns 333,555 shares of the technology company's stock worth $121,621,000 after purchasing an additional 215,903 shares during the period. Institutional investors own 97.38% of the company's stock.

Fabrinet Price Performance

Shares of Fabrinet stock opened at $561.84 on Friday. Fabrinet has a 1-year low of $272.49 and a 1-year high of $748.89. The company has a market capitalization of $20.13 billion, a P/E ratio of 48.27 and a beta of 1.23. The business's fifty day moving average price is $539.39 and its two-hundred day moving average price is $565.45.

Wall Street Analyst Weigh In

Several research firms have recently commented on FN. Weiss Ratings lowered shares of Fabrinet from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, June 30th. JPMorgan Chase & Co. decreased their target price on Fabrinet from $700.00 to $680.00 and set a "neutral" rating for the company in a research note on Tuesday, May 5th. Rosenblatt Securities raised their price target on Fabrinet from $715.00 to $750.00 and gave the stock a "buy" rating in a report on Tuesday, May 5th. Northland Securities set a $800.00 price objective on Fabrinet in a research note on Monday, April 20th. Finally, Barclays increased their target price on Fabrinet from $548.00 to $702.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 5th. Six investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $643.00.

Insider Transactions at Fabrinet

In other Fabrinet news, Director Homa Bahrami sold 2,500 shares of the firm's stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $711.91, for a total transaction of $1,779,775.00. Following the transaction, the director owned 16,233 shares of the company's stock, valued at approximately $11,556,435.03. This trade represents a 13.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.24% of the stock is owned by corporate insiders.

Fabrinet Profile

Fabrinet is a global provider of advanced optical packaging and precision optical, electro‐mechanical and electronic manufacturing services (CEM). The company specializes in complex manufacturing processes for original equipment manufacturers (OEMs) in communications, data center, industrial, instrumentation and medical markets. Key capabilities include high‐precision fiber alignment, micro‐assembly, testing and diagnostics, and integration of electro‐optic subassemblies.

Incorporated in 2000, Fabrinet operates under a corporate structure headquartered in Singapore with additional regional offices and design centers in the Americas, Europe and Asia.

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