Johnson Investment Counsel Inc. Buys 2,660 Shares of Fabrinet (NYSE:FN)

Johnson Investment Counsel Inc. lifted its position in Fabrinet (NYSE:FN - Free Report) by 30.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,475 shares of the technology company's stock after buying an additional 2,660 shares during the quarter. Johnson Investment Counsel Inc.'s holdings in Fabrinet were worth $2,266,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of FN. Assetmark Inc. boosted its holdings in Fabrinet by 12.0% in 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 during the period. CIBC Asset Management Inc raised its position in shares of Fabrinet by 5.7% in the fourth quarter. CIBC Asset Management Inc now owns 1,113 shares of the technology company's stock worth $245,000 after buying an additional 60 shares in the last quarter. State of Alaska Department of Revenue boosted its stake in Fabrinet by 1.7% during the first quarter. State of Alaska Department of Revenue now owns 4,205 shares of the technology company's stock valued at $830,000 after buying an additional 70 shares during the period. Cim LLC grew its position in Fabrinet by 1.4% during the fourth quarter. Cim LLC now owns 6,013 shares of the technology company's stock worth $1,322,000 after buying an additional 82 shares in the last quarter. Finally, Transamerica Financial Advisors Inc. increased its stake in Fabrinet by 17.2% in the 4th quarter. Transamerica Financial Advisors Inc. now owns 565 shares of the technology company's stock worth $125,000 after acquiring an additional 83 shares during the last quarter. 97.38% of the stock is currently owned by institutional investors.

Insider Activity

In related news, COO Harpal Gill sold 18,675 shares of the business's stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $240.00, for a total transaction of $4,482,000.00. Following the transaction, the chief operating officer now owns 18,068 shares in the company, valued at $4,336,320. The trade was a 50.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Rollance E. Olson sold 2,500 shares of the company'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 transaction, the director now directly owns 23,201 shares of the company's stock, valued at $5,196,559.98. The trade was a 9.73% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.38% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on FN. Needham & Company LLC reaffirmed a "buy" rating and issued a $280.00 price target on shares of Fabrinet in a report on Tuesday, May 6th. B. Riley raised shares of Fabrinet from a "sell" rating to a "neutral" rating and lowered their target price for the company from $178.00 to $176.00 in a research note on Friday, April 4th. Rosenblatt Securities lifted their target price on shares of Fabrinet from $250.00 to $290.00 and gave the company a "buy" rating in a research report on Thursday, June 12th. JPMorgan Chase & Co. increased their price target on shares of Fabrinet from $220.00 to $235.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. Finally, Barclays set a $234.00 price objective on shares of Fabrinet and gave the stock an "equal weight" rating in a report on Tuesday, May 6th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $245.00.

Fabrinet Stock Up 2.5%

Shares of Fabrinet stock traded up $6.84 during trading on Tuesday, reaching $276.71. The company's stock had a trading volume of 544,718 shares, compared to its average volume of 635,332. Fabrinet has a 52-week low of $148.55 and a 52-week high of $281.79. The firm's 50-day moving average is $223.69 and its two-hundred day moving average is $219.09. The company has a market cap of $9.91 billion, a price-to-earnings ratio of 30.81 and a beta of 0.98.

Fabrinet (NYSE:FN - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The technology company reported $2.52 earnings per share (EPS) for the quarter, beating 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 10.00% and a return on equity of 17.99%. The company's revenue was up 19.2% on a year-over-year basis. During the same period in the prior year, the business posted $2.39 earnings per share. On average, equities research analysts anticipate that Fabrinet will post 9.4 EPS for the current year.

About Fabrinet

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.