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

Johnson Investment Counsel Inc. lifted its holdings in Fabrinet (NYSE:FN - Free Report) by 30.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm 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 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in FN. Norges Bank purchased a new stake in Fabrinet during the 4th quarter valued at about $95,084,000. Capital Research Global Investors grew its position in Fabrinet by 675.2% during 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 grew its position in Fabrinet by 47.0% during 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 grew 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 valued at $486,789,000 after purchasing an additional 257,164 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew 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 valued at $58,758,000 after purchasing an additional 179,679 shares during the last quarter. Hedge funds and other institutional investors own 97.38% of the company's stock.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. B. Riley raised shares of Fabrinet from a "sell" rating to a "neutral" rating and cut their price objective for the company from $178.00 to $176.00 in a research report on Friday, April 4th. Rosenblatt Securities raised their price target on shares of Fabrinet from $250.00 to $290.00 and gave the company a "buy" rating in a report on Thursday, June 12th. Barclays set a $234.00 price target on shares of Fabrinet and gave the company an "equal weight" rating in a 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 report on Tuesday, May 6th. Finally, JPMorgan Chase & Co. raised their price target on shares of Fabrinet from $220.00 to $235.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Fabrinet has a consensus rating of "Hold" and an average price target of $245.00.

Fabrinet Stock Up 0.1%

Shares of NYSE FN traded up $0.32 during trading on Friday, reaching $265.89. 652,440 shares of the company traded hands, compared to its average volume of 636,230. The firm has a 50 day simple moving average of $222.08 and a 200-day simple moving average of $219.01. The stock has a market capitalization of $9.53 billion, a PE ratio of 29.61 and a beta of 0.98. Fabrinet has a 52-week low of $148.55 and a 52-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 (EPS) for the quarter, topping analysts' consensus estimates of $2.47 by $0.05. The company had revenue of $871.80 million for the quarter, compared to the consensus estimate of $857.12 million. Fabrinet had a net margin of 10.00% and a return on equity of 17.99%. The firm's revenue was up 19.2% compared to the same quarter last year. During the same quarter last year, the firm posted $2.39 earnings per share. As a group, research analysts predict that Fabrinet will post 9.4 EPS for the current 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.