Fabrinet (NYSE:FN) Shares Purchased by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. grew its position in Fabrinet (NYSE:FN - Free Report) by 21.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,097 shares of the technology company's stock after acquiring an additional 1,439 shares during the period. Hennion & Walsh Asset Management Inc.'s holdings in Fabrinet were worth $1,599,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Versant Capital Management Inc lifted its stake in shares of Fabrinet by 353.7% in the first quarter. Versant Capital Management Inc now owns 186 shares of the technology company's stock valued at $37,000 after purchasing an additional 145 shares during the period. Huntington National Bank lifted its stake in shares of Fabrinet by 66.7% in the fourth quarter. Huntington National Bank now owns 230 shares of the technology company's stock valued at $51,000 after purchasing an additional 92 shares during the period. Quarry LP lifted its stake in shares of Fabrinet by 315.8% in the fourth quarter. Quarry LP now owns 237 shares of the technology company's stock valued at $52,000 after purchasing an additional 180 shares during the period. Orion Capital Management LLC acquired a new stake in shares of Fabrinet in the fourth quarter valued at about $62,000. Finally, IFP Advisors Inc lifted its stake in shares of Fabrinet by 576.2% in the fourth quarter. IFP Advisors Inc now owns 284 shares of the technology company's stock valued at $63,000 after purchasing an additional 242 shares during the period. Hedge funds and other institutional investors own 97.38% of the company's stock.

Insider Activity

In other news, Director Rollance E. Olson sold 2,500 shares of the business's stock in a transaction that occurred on 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 transaction, the director now owns 23,201 shares of the company's stock, 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 filing with the SEC, which is available at the SEC website. Also, COO Harpal Gill sold 18,675 shares of the business'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 completion of the transaction, the chief operating officer now directly owns 18,068 shares of the company's stock, valued at approximately $4,336,320. This represents a 50.83% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.38% of the company's stock.

Fabrinet Stock Down 1.0%

Shares of NYSE:FN traded down $2.40 during trading on Friday, reaching $234.82. The stock had a trading volume of 654,109 shares, compared to its average volume of 632,356. The business has a fifty day moving average price of $208.46 and a 200-day moving average price of $217.63. The stock has a market cap of $8.41 billion, a P/E ratio of 26.27 and a beta of 0.98. Fabrinet has a fifty-two week low of $148.55 and a fifty-two week high of $281.79.

Fabrinet (NYSE:FN - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The technology company reported $2.52 earnings per share for the quarter, beating analysts' consensus estimates 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 revenue was up 19.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.39 earnings per share. As a group, equities analysts forecast that Fabrinet will post 9.4 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on FN shares. B. Riley upgraded shares of Fabrinet from a "sell" rating to a "neutral" rating and cut their target price for the stock from $178.00 to $176.00 in a research report on Friday, April 4th. JPMorgan Chase & Co. lifted their target price on shares of Fabrinet from $220.00 to $235.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. Rosenblatt Securities lifted their target price on shares of Fabrinet from $230.00 to $250.00 and gave the stock a "buy" rating in a research report on Tuesday, May 6th. Barclays set a $234.00 target price on shares of Fabrinet and gave the stock an "equal weight" rating in a research report on Tuesday, May 6th. Finally, Needham & Company LLC restated 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 stock. Based on data from MarketBeat.com, Fabrinet currently has an average rating of "Hold" and a consensus price target 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.