Emerald Advisers LLC Purchases 16,490 Shares of Fabrinet (NYSE:FN)

Emerald Advisers LLC grew its stake in shares of Fabrinet (NYSE:FN - Free Report) by 13.4% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 139,491 shares of the technology company's stock after acquiring an additional 16,490 shares during the period. Fabrinet comprises 1.2% of Emerald Advisers LLC's investment portfolio, making the stock its 29th biggest position. Emerald Advisers LLC owned approximately 0.39% of Fabrinet worth $27,551,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in shares of Fabrinet by 2.8% during the 4th quarter. Vanguard Group Inc. now owns 4,137,579 shares of the technology company's stock valued at $909,771,000 after buying an additional 113,186 shares in the last quarter. FMR LLC lifted its stake in shares of Fabrinet by 13.1% during the 4th quarter. FMR LLC now owns 2,213,887 shares of the technology company's stock valued at $486,789,000 after buying an additional 257,164 shares in the last quarter. Wasatch Advisors LP lifted its stake in shares of Fabrinet by 47.0% during the 4th quarter. Wasatch Advisors LP now owns 1,132,636 shares of the technology company's stock valued at $249,044,000 after buying an additional 362,064 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Fabrinet by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 1,006,858 shares of the technology company's stock valued at $221,430,000 after buying an additional 20,045 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in shares of Fabrinet by 1.4% during the 4th quarter. JPMorgan Chase & Co. now owns 669,459 shares of the technology company's stock valued at $147,201,000 after buying an additional 9,058 shares in the last quarter. 97.38% of the stock is owned by institutional investors.

Fabrinet Trading Up 1.3%

Shares of NYSE:FN traded up $3.88 during trading on Monday, reaching $295.32. The company had a trading volume of 63,637 shares, compared to its average volume of 648,108. The company has a fifty day moving average of $250.27 and a two-hundred day moving average of $224.79. The stock has a market capitalization of $10.58 billion, a P/E ratio of 32.88 and a beta of 1.04. Fabrinet has a 12 month low of $148.55 and a 12 month high of $300.29.

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

Insider Buying and Selling at Fabrinet

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

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Needham & Company LLC restated a "buy" rating and set a $280.00 price target on shares of Fabrinet in a research note on Tuesday, May 6th. B. Riley upgraded shares of Fabrinet from a "sell" rating to a "neutral" rating and lowered their target price for the stock from $178.00 to $176.00 in a research note on Friday, April 4th. Barclays set a $234.00 target price on shares of Fabrinet and gave the stock an "equal weight" rating in a research note on Tuesday, May 6th. Rosenblatt Securities increased 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. Finally, Wolfe Research assumed coverage on shares of Fabrinet in a research note on Tuesday, July 8th. They issued a "peer perform" rating on the stock. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Fabrinet presently has an average rating of "Hold" and an average price target of $247.50.

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.