Fabrinet (NYSE:FN) Shares Acquired by Vident Advisory LLC

Vident Advisory LLC lifted its holdings in Fabrinet (NYSE:FN - Free Report) by 154.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,238 shares of the technology company's stock after purchasing an additional 1,965 shares during the quarter. Vident Advisory LLC's holdings in Fabrinet were worth $712,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of FN. Barclays PLC lifted its holdings in shares of Fabrinet by 304.6% in 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 during the last quarter. Janney Montgomery Scott LLC lifted its holdings in shares of 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 acquiring an additional 82 shares during the last quarter. T. Rowe Price Investment Management Inc. bought a new stake in shares of Fabrinet in the 4th quarter worth about $1,945,000. Tokio Marine Asset Management Co. Ltd. bought a new stake in shares of Fabrinet in the 4th quarter worth about $4,615,000. Finally, Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Fabrinet by 178.9% in 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 during the last quarter. 97.38% of the stock is owned by hedge funds and other institutional investors.

Fabrinet Price Performance

NYSE FN traded down $5.53 during mid-day trading on Friday, hitting $229.33. The stock had a trading volume of 149,696 shares, compared to its average volume of 627,599. The firm's 50 day moving average is $204.70 and its 200 day moving average is $218.05. Fabrinet has a twelve month low of $148.55 and a twelve month high of $281.79. The stock has a market capitalization of $8.22 billion, a price-to-earnings ratio of 25.62 and a beta of 0.95.

Fabrinet (NYSE:FN - Get Free Report) last issued its earnings results on Monday, May 5th. The technology company reported $2.52 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.47 by $0.05. The business had revenue of $871.80 million during the quarter, compared to the consensus estimate of $857.12 million. Fabrinet had a return on equity of 18.48% and a net margin of 10.44%. The company's revenue for the quarter was up 19.2% on a year-over-year basis. During the same period last year, the company earned $2.39 EPS. As a group, equities research analysts expect that Fabrinet will post 9.4 earnings per share for the current year.

Insider Activity

In related news, 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 transaction of $559,950.00. Following the completion of the sale, the director now 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.38% of the company's stock.

Wall Street Analysts Forecast Growth

FN has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. boosted their target price 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. Needham & Company LLC reissued a "buy" rating and set a $280.00 target price on shares of Fabrinet in a research note on Tuesday, May 6th. Barclays set a $234.00 target price on shares of Fabrinet and gave the company an "equal weight" rating in a research note on Tuesday, May 6th. B. Riley raised shares of Fabrinet from a "sell" rating to a "neutral" rating and lowered their target price for the company from $178.00 to $176.00 in a research note on Friday, April 4th. Finally, Rosenblatt Securities boosted their target price 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. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $239.29.

About Fabrinet

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.