Cetera Investment Advisers Boosts Stock Position in Fabrinet (NYSE:FN)

Cetera Investment Advisers increased its holdings in shares of Fabrinet (NYSE:FN - Free Report) by 10.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,844 shares of the technology company's stock after acquiring 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.

A number of other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in Fabrinet by 2.8% during the fourth quarter. Vanguard Group Inc. now owns 4,137,579 shares of the technology company's stock worth $909,771,000 after acquiring an additional 113,186 shares during the period. FMR LLC lifted its holdings in Fabrinet by 13.1% during 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 during the period. Wasatch Advisors LP lifted 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. Geode Capital Management LLC lifted its holdings in Fabrinet by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 1,006,858 shares of the technology company's stock worth $221,430,000 after acquiring an additional 20,045 shares during the period. Finally, JPMorgan Chase & Co. increased its position in Fabrinet by 1.4% in the fourth quarter. JPMorgan Chase & Co. now owns 669,459 shares of the technology company's stock worth $147,201,000 after buying an additional 9,058 shares during the last quarter. 97.38% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Rollance E. Olson sold 2,500 shares of the business's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $223.98, for a total transaction of $559,950.00. Following the completion of the transaction, the director now directly owns 23,201 shares in the company, 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 Securities & Exchange Commission, which is available through this hyperlink. 0.38% of the stock is owned by company insiders.

Fabrinet Stock Up 0.9%

Shares of NYSE:FN traded up $2.16 during midday trading on Friday, reaching $230.41. 542,948 shares of the company traded hands, compared to its average volume of 627,546. Fabrinet has a 12 month low of $148.55 and a 12 month high of $281.79. The firm has a market capitalization of $8.26 billion, a price-to-earnings ratio of 25.77 and a beta of 0.95. The firm's fifty day moving average price is $204.05 and its two-hundred day moving average price is $218.88.

Fabrinet (NYSE:FN - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The technology company reported $2.52 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.47 by $0.05. Fabrinet had a return on equity of 18.48% and a net margin of 10.44%. The company had revenue of $871.80 million for the quarter, compared to analyst estimates of $857.12 million. During the same period in the previous year, the company posted $2.39 EPS. The firm's revenue for the quarter was up 19.2% compared to the same quarter last year. Analysts forecast that Fabrinet will post 9.4 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on FN. Needham & Company LLC reissued a "buy" rating and issued a $280.00 target price on shares of Fabrinet in a research report on Tuesday, May 6th. JPMorgan Chase & Co. raised 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. Barclays set a $234.00 target price on Fabrinet and gave the stock an "equal weight" rating in a research report on Tuesday, May 6th. B. Riley raised Fabrinet from a "sell" rating to a "neutral" rating and decreased their target price for the stock from $178.00 to $176.00 in a research report on Friday, April 4th. Finally, Fox Advisors began coverage on Fabrinet in a research report on Tuesday, February 18th. They issued an "overweight" rating and a $270.00 target price for the company. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $239.29.

Fabrinet 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.