Fabrinet (NYSE:FN) Stock Position Lifted by Cetera Investment Advisers

Cetera Investment Advisers boosted its stake in shares of Fabrinet (NYSE:FN - Free Report) by 10.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,844 shares of the technology company's stock after buying an additional 1,146 shares during the quarter. Cetera Investment Advisers' holdings in Fabrinet were worth $2,604,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Barclays PLC raised its stake in shares of Fabrinet by 304.6% during the 3rd quarter. Barclays PLC now owns 69,128 shares of the technology company's stock worth $16,345,000 after acquiring an additional 52,042 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in shares of Fabrinet by 2.6% during the 4th quarter. Janney Montgomery Scott LLC now owns 3,279 shares of the technology company's stock worth $721,000 after acquiring an additional 82 shares in the last quarter. T. Rowe Price Investment Management Inc. bought a new position in shares of Fabrinet during the 4th quarter worth approximately $1,945,000. Tokio Marine Asset Management Co. Ltd. bought a new position in shares of Fabrinet during the 4th quarter worth approximately $4,615,000. Finally, Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Fabrinet by 178.9% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,008 shares of the technology company's stock worth $881,000 after acquiring an additional 2,571 shares in the last quarter. Institutional investors own 97.38% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on FN shares. Rosenblatt Securities boosted their target price on shares of Fabrinet from $230.00 to $250.00 and gave the stock a "buy" rating in a research report on Tuesday, May 6th. Barclays set a $234.00 target price on shares of Fabrinet and gave the stock an "equal weight" rating in a research report on Tuesday, May 6th. Needham & Company LLC reiterated a "buy" rating and issued a $280.00 price target on shares of Fabrinet in a report on Tuesday, May 6th. JPMorgan Chase & Co. increased their price target 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, Fox Advisors initiated coverage on shares of Fabrinet in a research note on Tuesday, February 18th. They issued an "overweight" rating and a $270.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $239.29.

Fabrinet Trading Up 1.8%

FN traded up $3.98 during midday trading on Thursday, hitting $230.95. 193,450 shares of the company traded hands, compared to its average volume of 626,262. The company has a market capitalization of $8.28 billion, a price-to-earnings ratio of 25.84 and a beta of 0.95. Fabrinet has a 52-week low of $148.55 and a 52-week high of $281.79. The business has a 50 day simple moving average of $203.75 and a two-hundred day simple moving average of $218.96.

Fabrinet (NYSE:FN - Get Free Report) last issued its 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 company had revenue of $871.80 million for the quarter, compared to the consensus estimate of $857.12 million. Fabrinet had a net margin of 10.44% and a return on equity of 18.48%. Fabrinet's quarterly revenue was up 19.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.39 earnings per share. Equities research analysts anticipate that Fabrinet will post 9.4 earnings per share for the current year.

Insider Activity

In other news, Director Rollance E. Olson sold 2,500 shares of the business's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $223.98, for a total value of $559,950.00. Following the completion of the transaction, the director now owns 23,201 shares of the company's stock, valued at $5,196,559.98. The trade was a 9.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company 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.