1,286 Shares in Fabrinet (NYSE:FN) Acquired by Merit Financial Group LLC

Merit Financial Group LLC acquired a new position in shares of Fabrinet (NYSE:FN - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,286 shares of the technology company's stock, valued at approximately $254,000.

A number of other hedge funds have also recently bought and sold shares of FN. Assetmark Inc. boosted its holdings in Fabrinet by 12.0% during the fourth quarter. Assetmark Inc. now owns 484 shares of the technology company's stock worth $106,000 after buying an additional 52 shares during the last quarter. CIBC Asset Management Inc boosted its stake in Fabrinet by 5.7% during the 4th quarter. CIBC Asset Management Inc now owns 1,113 shares of the technology company's stock worth $245,000 after acquiring an additional 60 shares during the last quarter. Nations Financial Group Inc. IA ADV grew its holdings in Fabrinet by 2.4% during the fourth quarter. Nations Financial Group Inc. IA ADV now owns 2,941 shares of the technology company's stock valued at $647,000 after purchasing an additional 68 shares during the period. Cim LLC increased its stake in Fabrinet by 1.4% in the fourth quarter. Cim LLC now owns 6,013 shares of the technology company's stock valued at $1,322,000 after purchasing an additional 82 shares in the last quarter. Finally, Transamerica Financial Advisors Inc. raised its holdings in Fabrinet by 17.2% in the fourth quarter. Transamerica Financial Advisors Inc. now owns 565 shares of the technology company's stock worth $125,000 after purchasing an additional 83 shares during the period. 97.38% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on FN. Needham & Company LLC reissued a "buy" rating and issued a $280.00 price target on shares of Fabrinet in a report on Tuesday, May 6th. JPMorgan Chase & Co. boosted their price objective on Fabrinet from $220.00 to $235.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. Rosenblatt Securities raised their target price on shares of Fabrinet from $250.00 to $290.00 and gave the stock a "buy" rating in a report on Thursday. 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. Finally, Fox Advisors initiated coverage on shares of Fabrinet in a report on Tuesday, February 18th. They set an "overweight" rating and a $270.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $245.00.

Fabrinet Stock Up 4.8%

FN traded up $11.67 during trading hours on Monday, hitting $256.76. 372,157 shares of the company's stock were exchanged, compared to its average volume of 764,442. The stock has a market cap of $9.20 billion, a price-to-earnings ratio of 28.74 and a beta of 0.98. Fabrinet has a 1-year low of $148.55 and a 1-year high of $281.79. The stock's 50-day moving average is $214.78 and its two-hundred day moving average is $217.96.

Fabrinet (NYSE:FN - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The technology company reported $2.52 earnings per share for the quarter, beating the consensus estimate of $2.47 by $0.05. Fabrinet had a return on equity of 18.48% and a net margin of 10.44%. The company had revenue of $871.80 million during the quarter, compared to analysts' expectations of $857.12 million. During the same quarter last year, the company earned $2.39 EPS. Fabrinet's revenue for the quarter was up 19.2% compared to the same quarter last year. On average, equities research analysts anticipate that Fabrinet will post 9.4 EPS for the current year.

Insider Buying and Selling

In other Fabrinet news, 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 transaction of $4,482,000.00. Following the completion of the sale, the chief operating officer now owns 18,068 shares of the company's stock, valued at $4,336,320. This trade represents a 50.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 transaction of $559,950.00. Following the completion of the transaction, the director now owns 23,201 shares in the company, valued at approximately $5,196,559.98. This represents a 9.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by corporate insiders.

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.