Fabrinet (NYSE:FN) Shares Purchased by Rhumbline Advisers

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

A number of other hedge funds also recently made changes to their positions in the company. Janney Montgomery Scott LLC lifted its holdings in Fabrinet by 2.6% in the 4th quarter. Janney Montgomery Scott LLC now owns 3,279 shares of the technology company's stock worth $721,000 after buying an additional 82 shares in the last quarter. Jennison Associates LLC boosted its holdings in Fabrinet by 81.7% in the fourth quarter. Jennison Associates LLC now owns 5,724 shares of the technology company's stock valued at $1,259,000 after purchasing an additional 2,573 shares during the last quarter. Retirement Systems of Alabama boosted its holdings in Fabrinet by 0.4% in the fourth quarter. Retirement Systems of Alabama now owns 44,098 shares of the technology company's stock valued at $9,696,000 after purchasing an additional 190 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in Fabrinet by 178.9% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,008 shares of the technology company's stock valued at $881,000 after purchasing an additional 2,571 shares in the last quarter. Finally, Moloney Securities Asset Management LLC increased its holdings in Fabrinet by 47.4% during the 4th quarter. Moloney Securities Asset Management LLC now owns 2,423 shares of the technology company's stock worth $533,000 after purchasing an additional 779 shares during the last quarter. Hedge funds and other institutional investors own 97.38% of the company's stock.

Insider Buying and Selling at Fabrinet

In related news, COO Harpal Gill sold 18,675 shares of the firm's stock in a transaction that occurred 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 now owns 18,068 shares in the company, valued at $4,336,320. This trade represents a 50.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Rollance E. Olson sold 2,500 shares of the business's stock in a transaction that occurred on Tuesday, May 13th. The stock was 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 in the company, valued at approximately $5,196,559.98. The trade was a 9.73% decrease in their position. The disclosure for this sale can be found here. 0.38% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

FN has been the subject of several research analyst reports. B. Riley upgraded Fabrinet from a "sell" rating to a "neutral" rating and reduced their target price for the company from $178.00 to $176.00 in a research note on Friday, April 4th. Fox Advisors started coverage on shares of Fabrinet in a research note on Tuesday, February 18th. They issued an "overweight" rating and a $270.00 target price on the stock. Needham & Company LLC reissued a "buy" rating and issued a $280.00 price objective on shares of Fabrinet in a report on Tuesday, May 6th. Barclays set a $234.00 price objective on Fabrinet and gave the company an "equal weight" rating in a research note on Tuesday, May 6th. Finally, Rosenblatt Securities boosted their price target on Fabrinet from $230.00 to $250.00 and gave the company a "buy" rating in a report on Tuesday, May 6th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $239.29.

Fabrinet Stock Up 2.0%

FN stock traded up $4.70 during mid-day trading on Tuesday, reaching $237.53. The company had a trading volume of 393,969 shares, compared to its average volume of 632,044. Fabrinet has a one year low of $148.55 and a one year high of $281.79. The stock has a market capitalization of $8.51 billion, a P/E ratio of 26.57 and a beta of 0.98. The stock's 50-day simple moving average is $210.36 and its two-hundred day simple moving average is $217.64.

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

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.