Rhumbline Advisers Buys 1,443 Shares of Fabrinet (NYSE:FN)

Rhumbline Advisers lifted its position in shares of Fabrinet (NYSE:FN - Free Report) by 1.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 113,377 shares of the technology company's stock after buying an additional 1,443 shares during the quarter. Rhumbline Advisers owned about 0.32% of Fabrinet worth $22,393,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of FN. Norges Bank acquired a new stake in Fabrinet in the fourth quarter worth $95,084,000. Capital Research Global Investors grew its holdings in Fabrinet by 675.2% in the fourth 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 grew its holdings in Fabrinet by 47.0% in the fourth 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 stake in shares of 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 buying an additional 257,164 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its stake in shares of Fabrinet by 205.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 267,228 shares of the technology company's stock valued at $58,758,000 after buying an additional 179,679 shares in the last quarter. 97.38% of the stock is currently owned by institutional investors and hedge funds.

Fabrinet Price Performance

Shares of FN traded down $2.40 during trading hours on Friday, hitting $234.82. The company's stock had a trading volume of 654,109 shares, compared to its average volume of 633,354. The company has a market cap of $8.41 billion, a price-to-earnings ratio of 26.27 and a beta of 0.98. The business has a 50 day simple moving average of $208.46 and a two-hundred day simple moving average of $217.57. Fabrinet has a 52-week low of $148.55 and a 52-week high of $281.79.

Fabrinet (NYSE:FN - Get Free Report) last posted its earnings results on Monday, May 5th. The technology company reported $2.52 earnings per share for the quarter, topping the consensus estimate of $2.47 by $0.05. The firm had revenue of $871.80 million during 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%. The company's revenue was up 19.2% on a year-over-year basis. During the same quarter last year, the company earned $2.39 earnings per share. Research analysts predict that Fabrinet will post 9.4 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on FN shares. Needham & Company LLC reaffirmed a "buy" rating and issued a $280.00 price objective on shares of Fabrinet in a research note on Tuesday, May 6th. Rosenblatt Securities raised their price objective on shares of Fabrinet from $230.00 to $250.00 and gave the company a "buy" rating in a research note on Tuesday, May 6th. B. Riley raised shares of Fabrinet from a "sell" rating to a "neutral" rating and dropped their price objective for the company from $178.00 to $176.00 in a research note on Friday, April 4th. JPMorgan Chase & Co. raised their price objective on shares of Fabrinet from $220.00 to $235.00 and gave the company a "neutral" rating in a research note on Tuesday, May 6th. Finally, 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. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $239.29.

Insider Buying and Selling at Fabrinet

In related news, COO Harpal Gill sold 18,675 shares of the company's 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 transaction, the chief operating officer now directly owns 18,068 shares in the company, valued at approximately $4,336,320. The trade was a 50.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Rollance E. Olson sold 2,500 shares of the company'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 completion of the transaction, the director now owns 23,201 shares of the company's stock, valued at $5,196,559.98. This trade represents a 9.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.