Fabrinet (NYSE:FN) Shares Acquired by Ausbil Investment Management Ltd

Ausbil Investment Management Ltd increased its position in shares of Fabrinet (NYSE:FN - Free Report) by 42.6% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,169 shares of the technology company's stock after purchasing an additional 1,245 shares during the period. Ausbil Investment Management Ltd's holdings in Fabrinet were worth $823,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in Fabrinet during the 4th quarter worth approximately $95,084,000. Capital Research Global Investors boosted its stake in shares of Fabrinet by 675.2% in 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 in the last quarter. Wasatch Advisors LP grew its holdings in Fabrinet by 47.0% during the fourth quarter. Wasatch Advisors LP now owns 1,132,636 shares of the technology company's stock worth $249,044,000 after acquiring an additional 362,064 shares during the period. FMR LLC raised its position in 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 acquiring an additional 257,164 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its position 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 acquiring an additional 179,679 shares in the last quarter. Institutional investors and hedge funds own 97.38% of the company's stock.

Insider Transactions at Fabrinet

In other news, Director Rollance E. Olson sold 2,500 shares of the firm's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $223.98, for a total transaction of $559,950.00. Following the sale, the director now owns 23,201 shares in the company, valued at $5,196,559.98. This trade represents a 9.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Harpal Gill sold 18,675 shares of Fabrinet stock in a transaction on 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 sale, the chief operating officer now directly owns 18,068 shares of the company's stock, valued at approximately $4,336,320. This represents a 50.83% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.38% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Rosenblatt Securities upped their price target on shares of Fabrinet from $250.00 to $290.00 and gave the stock a "buy" rating in a research note on Thursday, June 12th. Needham & Company LLC reaffirmed a "buy" rating and issued a $280.00 target price on shares of Fabrinet in a report on Tuesday, May 6th. B. Riley raised Fabrinet from a "sell" rating to a "neutral" rating and decreased their price target for the stock from $178.00 to $176.00 in a research note on Friday, April 4th. Barclays set a $234.00 price objective on Fabrinet and gave the company an "equal weight" rating in a research note on Tuesday, May 6th. Finally, JPMorgan Chase & Co. boosted their target price on Fabrinet from $220.00 to $235.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $245.00.

Fabrinet Price Performance

Shares of Fabrinet stock opened at $265.89 on Monday. Fabrinet has a 1 year low of $148.55 and a 1 year high of $281.79. The business has a 50 day moving average price of $222.08 and a 200 day moving average price of $218.90. The company has a market capitalization of $9.53 billion, a P/E ratio of 29.61 and a beta of 0.98.

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

About Fabrinet

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.