Jefferies Financial Group Inc. Purchases Shares of 5,040 Fabrinet (NYSE:FN)

Key Points

• Jefferies Financial Group Inc. has made a new investment of approximately $995,000 in Fabrinet, acquiring 5,040 shares during the first quarter.
• Fabrinet has seen significant interest from hedge funds, with 97.38% of its stock now held by institutional investors.
• Several brokerages have set varied price targets for Fabrinet, with estimates ranging from $234.00 to $318.00 per share, indicating mixed analyst consensus on the stock's outlook.

Jefferies Financial Group Inc. acquired a new position in Fabrinet (NYSE:FN - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 5,040 shares of the technology company's stock, valued at approximately $995,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of FN. Banque Cantonale Vaudoise acquired a new position in shares of Fabrinet during the first quarter valued at about $29,000. Wayfinding Financial LLC bought a new position in shares of Fabrinet during the 1st quarter worth approximately $30,000. Berbice Capital Management LLC acquired a new stake in shares of Fabrinet in the 1st quarter valued at $30,000. Private Trust Co. NA increased its holdings in shares of Fabrinet by 44.3% during the first quarter. Private Trust Co. NA now owns 166 shares of the technology company's stock worth $33,000 after buying an additional 51 shares in the last quarter. Finally, SBI Securities Co. Ltd. raised its position in Fabrinet by 93.5% in the 1st quarter. SBI Securities Co. Ltd. now owns 180 shares of the technology company's stock valued at $36,000 after purchasing an additional 87 shares during the last quarter. Institutional investors and hedge funds own 97.38% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Rosenblatt Securities boosted their target price on shares of Fabrinet from $250.00 to $290.00 and gave the stock a "buy" rating in a research note on Thursday, June 12th. Barclays set a $234.00 target price on Fabrinet and gave the stock an "equal weight" rating in a research report on Tuesday, May 6th. 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. JPMorgan Chase & Co. lifted their price objective on Fabrinet from $235.00 to $318.00 and gave the stock a "neutral" rating in a research report on Thursday, July 17th. Finally, Wolfe Research began coverage on shares of Fabrinet in a research report on Tuesday, July 8th. They set a "peer perform" rating on the stock. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $261.33.

Fabrinet Stock Performance

NYSE:FN traded up $8.45 during mid-day trading on Friday, hitting $343.56. The company had a trading volume of 293,620 shares, compared to its average volume of 703,635. Fabrinet has a fifty-two week low of $148.55 and a fifty-two week high of $344.53. The firm has a market cap of $12.31 billion, a P/E ratio of 38.25 and a beta of 1.02. The business's fifty day moving average is $284.72 and its two-hundred day moving average is $236.04.

Fabrinet (NYSE:FN - Get Free Report) last announced its quarterly earnings results 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. Fabrinet had a net margin of 10.00% and a return on equity of 17.99%. The business had revenue of $871.80 million for the quarter, compared to the consensus estimate of $857.12 million. During the same period last year, the company posted $2.39 EPS. Fabrinet's revenue for the quarter was up 19.2% on a year-over-year basis. Equities analysts forecast that Fabrinet will post 9.4 earnings per share for the current year.

Insider Activity at Fabrinet

In related news, Director Rollance E. Olson sold 2,500 shares of the company's stock in a transaction 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 sale, the director owned 23,201 shares in the company, valued at $5,196,559.98. This represents a 9.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Harpal Gill sold 18,675 shares of the firm's stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $240.00, for a total value of $4,482,000.00. Following the sale, the chief operating officer directly owned 18,068 shares in the company, valued at $4,336,320. The trade was 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.

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.