Hennion & Walsh Asset Management Inc. Buys 1,439 Shares of Fabrinet (NYSE:FN)

Hennion & Walsh Asset Management Inc. grew its holdings in shares of Fabrinet (NYSE:FN - Free Report) by 21.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,097 shares of the technology company's stock after purchasing an additional 1,439 shares during the quarter. 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 have also modified their holdings of the company. Versant Capital Management Inc boosted its holdings in 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 increased its holdings in shares of Fabrinet by 66.7% in the 4th quarter. Huntington National Bank now owns 230 shares of the technology company's stock valued at $51,000 after acquiring an additional 92 shares during the period. Quarry LP grew its holdings in shares of Fabrinet by 315.8% during the fourth quarter. Quarry LP now owns 237 shares of the technology company's stock worth $52,000 after buying an additional 180 shares during the last quarter. Orion Capital Management LLC acquired a new stake in shares of Fabrinet during the fourth quarter worth $62,000. Finally, IFP Advisors Inc increased its stake in shares of Fabrinet by 576.2% during the fourth quarter. IFP Advisors Inc now owns 284 shares of the technology company's stock worth $63,000 after acquiring an additional 242 shares during the period. 97.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Rollance E. Olson sold 2,500 shares of Fabrinet stock in a transaction 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 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 trade represents a 9.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Harpal Gill sold 18,675 shares of the company's stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $240.00, for a total value of $4,482,000.00. Following the transaction, the chief operating officer now directly owns 18,068 shares in the company, valued at $4,336,320. This trade represents a 50.83% decrease in their position. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. B. Riley raised shares of Fabrinet from a "sell" rating to a "neutral" rating and dropped their target price for the company from $178.00 to $176.00 in a report on Friday, April 4th. JPMorgan Chase & Co. boosted their price objective 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. 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. Needham & Company LLC restated a "buy" rating and set a $280.00 price objective on shares of Fabrinet in a report on Tuesday, May 6th. Finally, Fox Advisors began coverage on shares of Fabrinet in a research note on Tuesday, February 18th. They set an "overweight" rating and a $270.00 target price for the company. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $239.29.

Fabrinet Trading Down 1.0%

FN traded down $2.24 during trading on Monday, hitting $232.71. The stock had a trading volume of 383,909 shares, compared to its average volume of 632,356. Fabrinet has a 12 month low of $148.55 and a 12 month high of $281.79. The firm has a market cap of $8.34 billion, a PE ratio of 26.03 and a beta of 0.98. The company has a 50 day simple moving average of $208.46 and a 200-day simple moving average of $217.48.

Fabrinet (NYSE:FN - Get Free Report) last posted 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 the consensus estimate 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% on a year-over-year basis. During the same quarter last year, the company earned $2.39 EPS. As a group, sell-side analysts anticipate that Fabrinet will post 9.4 earnings per share 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.