Fabrinet (NYSE:FN) Stock Holdings Increased by GAMMA Investing LLC

GAMMA Investing LLC lifted its holdings in Fabrinet (NYSE:FN - Free Report) by 18,800.5% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 175,586 shares of the technology company's stock after purchasing an additional 174,657 shares during the period. GAMMA Investing LLC owned approximately 0.48% of Fabrinet worth $34,680,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Norges Bank purchased a new stake in shares of Fabrinet during the 4th quarter worth approximately $95,084,000. Capital Research Global Investors raised its position in Fabrinet by 675.2% in the 4th quarter. Capital Research Global Investors now owns 417,020 shares of the technology company's stock valued at $91,694,000 after purchasing an additional 363,228 shares during the last quarter. Wasatch Advisors LP raised its position in Fabrinet by 47.0% in the 4th quarter. Wasatch Advisors LP now owns 1,132,636 shares of the technology company's stock valued at $249,044,000 after purchasing an additional 362,064 shares during the last quarter. FMR LLC raised its position in Fabrinet by 13.1% during the 4th quarter. FMR LLC now owns 2,213,887 shares of the technology company's stock worth $486,789,000 after buying an additional 257,164 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its position in Fabrinet by 205.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 267,228 shares of the technology company's stock worth $58,758,000 after buying an additional 179,679 shares during the last quarter. Institutional investors and hedge funds own 97.38% of the company's stock.

Fabrinet Stock Performance

Shares of Fabrinet stock traded down $2.40 during trading on Friday, hitting $234.82. 654,109 shares of the stock were exchanged, compared to its average volume of 633,354. The stock's fifty day moving average is $208.46 and its 200 day moving average is $217.63. The stock has a market cap of $8.41 billion, a PE ratio of 26.27 and a beta of 0.98. Fabrinet has a 12 month low of $148.55 and a 12 month high of $281.79.

Fabrinet (NYSE:FN - Get Free Report) last released its quarterly 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 analyst estimates of $857.12 million. Fabrinet had a net margin of 10.44% and a return on equity of 18.48%. The company's quarterly revenue was up 19.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.39 earnings per share. Sell-side analysts anticipate that Fabrinet will post 9.4 EPS for the current fiscal year.

Insider Activity at Fabrinet

In other Fabrinet news, Director Rollance E. Olson sold 2,500 shares of the company's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $223.98, for a total value of $559,950.00. Following the completion of the sale, the director now directly owns 23,201 shares of the company's stock, valued at approximately $5,196,559.98. This represents a 9.73% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Harpal Gill sold 18,675 shares of the company's stock in a transaction dated 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 sale, the chief operating officer now directly owns 18,068 shares of the company's stock, valued at $4,336,320. This represents a 50.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on FN shares. Barclays set a $234.00 price target on shares of Fabrinet and gave the stock an "equal weight" rating in a research note on Tuesday, May 6th. Rosenblatt Securities lifted their price target on shares of Fabrinet from $230.00 to $250.00 and gave the stock a "buy" rating in a report on Tuesday, May 6th. Fox Advisors assumed coverage on shares of Fabrinet in a report on Tuesday, February 18th. They issued an "overweight" rating and a $270.00 target price for the company. JPMorgan Chase & Co. boosted their price objective on shares of Fabrinet from $220.00 to $235.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. Finally, Needham & Company LLC reissued a "buy" rating and set a $280.00 target price on shares of Fabrinet in a research report on Tuesday, May 6th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $239.29.

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.