5,735 Shares in Fabrinet (NYSE:FN) Bought by First Hawaiian Bank

First Hawaiian Bank purchased a new stake in shares of Fabrinet (NYSE:FN - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 5,735 shares of the technology company's stock, valued at approximately $1,133,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in FN. Huntington National Bank boosted its stake in Fabrinet by 66.7% during the 4th quarter. Huntington National Bank now owns 230 shares of the technology company's stock valued at $51,000 after purchasing an additional 92 shares in the last quarter. Quarry LP boosted its stake in Fabrinet by 315.8% during the 4th quarter. Quarry LP now owns 237 shares of the technology company's stock valued at $52,000 after purchasing an additional 180 shares in the last quarter. Orion Capital Management LLC bought a new position in Fabrinet during the 4th quarter valued at $62,000. IFP Advisors Inc boosted its stake in Fabrinet by 576.2% during the 4th quarter. IFP Advisors Inc now owns 284 shares of the technology company's stock valued at $63,000 after purchasing an additional 242 shares in the last quarter. Finally, Assetmark Inc. boosted its stake in Fabrinet by 12.0% during the 4th quarter. Assetmark Inc. now owns 484 shares of the technology company's stock valued at $106,000 after purchasing an additional 52 shares in the last quarter. 97.38% of the stock is owned by institutional investors.

Fabrinet Stock Up 1.2%

Shares of Fabrinet stock traded up $2.84 during midday trading on Wednesday, hitting $242.71. The company's stock had a trading volume of 183,240 shares, compared to its average volume of 628,980. The firm has a market capitalization of $8.70 billion, a P/E ratio of 27.15 and a beta of 0.95. The stock has a 50-day simple moving average of $206.03 and a 200-day simple moving average of $217.54. Fabrinet has a 1-year low of $148.55 and a 1-year high of $281.79.

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 the consensus estimate of $2.47 by $0.05. The business had revenue of $871.80 million during the quarter, compared to analysts' expectations of $857.12 million. Fabrinet had a return on equity of 18.48% and a net margin of 10.44%. Fabrinet's revenue was up 19.2% compared to the same quarter last year. During the same quarter last year, the firm posted $2.39 earnings per share. As a group, sell-side analysts predict that Fabrinet will post 9.4 earnings per share for the current year.

Insider Transactions at Fabrinet

In related news, Director Rollance E. Olson sold 2,500 shares of the 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 sale, the director now directly owns 23,201 shares in the company, valued at approximately $5,196,559.98. This trade represents a 9.73% 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. 0.38% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on FN shares. Needham & Company LLC reaffirmed a "buy" rating and set a $280.00 price target on shares of Fabrinet in a research note on Tuesday, May 6th. Rosenblatt Securities raised their price objective on Fabrinet from $230.00 to $250.00 and gave the stock a "buy" rating in a research note on Tuesday, May 6th. Barclays set a $234.00 price objective on Fabrinet and gave the stock an "equal weight" rating in a research note on Tuesday, May 6th. JPMorgan Chase & Co. raised their price objective on Fabrinet from $220.00 to $235.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. Finally, Fox Advisors assumed coverage on Fabrinet in a research note on Tuesday, February 18th. They set an "overweight" rating and a $270.00 price objective for the company. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target 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.