Ausbil Investment Management Ltd Grows Stake in Fabrinet (NYSE:FN)

Ausbil Investment Management Ltd boosted its position in Fabrinet (NYSE:FN - Free Report) by 42.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,169 shares of the technology company's stock after buying an additional 1,245 shares during the quarter. Ausbil Investment Management Ltd's holdings in Fabrinet were worth $823,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank bought a new stake in shares of Fabrinet in the 4th quarter valued at about $95,084,000. Capital Research Global Investors increased its stake in Fabrinet by 675.2% in the 4th quarter. Capital Research Global Investors now owns 417,020 shares of the technology company's stock worth $91,694,000 after purchasing an additional 363,228 shares during the period. Wasatch Advisors LP increased its stake in 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 lifted 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 valued at $486,789,000 after purchasing an additional 257,164 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its stake in shares of Fabrinet by 205.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 267,228 shares of the technology company's stock valued at $58,758,000 after purchasing an additional 179,679 shares during the period. 97.38% of the stock is currently owned by institutional investors.

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 shares were sold at an average price of $223.98, for a total value of $559,950.00. Following the sale, the director now directly owns 23,201 shares of the company's stock, valued at $5,196,559.98. This represents a 9.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Harpal Gill sold 18,675 shares of Fabrinet stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $240.00, for a total transaction of $4,482,000.00. Following the transaction, the chief operating officer now directly owns 18,068 shares of the company's stock, valued at approximately $4,336,320. This trade represents a 50.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.38% of the company's stock.

Analyst Ratings Changes

FN has been the topic of several analyst reports. Rosenblatt Securities lifted their target price 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 reissued a "buy" rating and issued a $280.00 price target on shares of Fabrinet in a report on Tuesday, May 6th. Barclays set a $234.00 price objective on shares of Fabrinet and gave the company an "equal weight" rating in a research note on Tuesday, May 6th. JPMorgan Chase & Co. increased their target price on shares of Fabrinet from $220.00 to $235.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. Finally, B. Riley upgraded Fabrinet from a "sell" rating to a "neutral" rating and reduced their price target for the company from $178.00 to $176.00 in a report on Friday, April 4th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, Fabrinet presently has an average rating of "Hold" and a consensus target price of $245.00.

Fabrinet Stock Up 4.8%

Shares of NYSE:FN traded up $13.72 on Thursday, hitting $299.61. The company had a trading volume of 765,444 shares, compared to its average volume of 639,644. The firm's 50-day simple moving average is $229.78 and its two-hundred day simple moving average is $220.38. Fabrinet has a 1 year low of $148.55 and a 1 year high of $300.20. The firm has a market capitalization of $10.73 billion, a price-to-earnings ratio of 33.36 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 (EPS) for the quarter, topping analysts' consensus estimates of $2.47 by $0.05. Fabrinet had a net margin of 10.00% and a return on equity of 17.99%. The company had revenue of $871.80 million during the quarter, compared to the consensus estimate of $857.12 million. During the same period in the prior year, the firm earned $2.39 earnings per share. Fabrinet's revenue was up 19.2% on a year-over-year basis. Equities research analysts anticipate that Fabrinet will post 9.4 EPS for the current 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.