Motley Fool Asset Management LLC Takes $4.51 Million Position in Fabrinet (NYSE:FN)

Key Points

• Motley Fool Asset Management LLC acquired a new stake in Fabrinet, purchasing 22,838 shares valued at approximately $4.5 million.
• Institutional investors own 97.38% of Fabrinet's stock, with several hedge funds increasing their holdings during the first quarter.
• Analysts have mixed ratings on Fabrinet, with a consensus rating of "Hold" and a consensus target price of $261.33.

Motley Fool Asset Management LLC bought a new position in shares of Fabrinet (NYSE:FN - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 22,838 shares of the technology company's stock, valued at approximately $4,511,000. Motley Fool Asset Management LLC owned about 0.06% of Fabrinet as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wasatch Advisors LP grew its stake in shares of Fabrinet by 47.0% in the fourth quarter. Wasatch Advisors LP now owns 1,132,636 shares of the technology company's stock valued at $249,044,000 after buying an additional 362,064 shares in the last quarter. Baillie Gifford & Co. grew its stake in shares of Fabrinet by 16.5% in the first quarter. Baillie Gifford & Co. now owns 644,557 shares of the technology company's stock valued at $127,306,000 after buying an additional 91,519 shares in the last quarter. Northern Trust Corp grew its stake in shares of Fabrinet by 14.6% in the fourth quarter. Northern Trust Corp now owns 499,356 shares of the technology company's stock valued at $109,798,000 after buying an additional 63,686 shares in the last quarter. TD Asset Management Inc grew its stake in shares of Fabrinet by 17.8% in the first quarter. TD Asset Management Inc now owns 478,104 shares of the technology company's stock valued at $94,430,000 after buying an additional 72,385 shares in the last quarter. Finally, Capital Research Global Investors grew its stake in Fabrinet by 675.2% during the 4th quarter. Capital Research Global Investors now owns 417,020 shares of the technology company's stock worth $91,694,000 after purchasing an additional 363,228 shares in the last quarter. Institutional investors and hedge funds own 97.38% of the company's stock.

Insider Buying and Selling at Fabrinet

In other 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 value of $4,482,000.00. Following the completion of the sale, the chief operating officer directly owned 18,068 shares of the company's stock, valued at approximately $4,336,320. The trade was a 50.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.38% of the company's stock.

Fabrinet Stock Performance

NYSE FN traded down $15.45 during trading on Thursday, reaching $321.86. 1,334,529 shares of the company's stock were exchanged, compared to its average volume of 709,013. The stock has a market cap of $11.53 billion, a P/E ratio of 35.84 and a beta of 1.02. The company has a 50 day moving average price of $293.11 and a two-hundred day moving average price of $238.25. Fabrinet has a 1 year low of $148.55 and a 1 year high of $356.55.

Analyst Ratings Changes

Several research firms recently commented on FN. Barclays set a $234.00 target price on Fabrinet and gave the stock an "equal weight" rating in a research note on Tuesday, May 6th. Wolfe Research began coverage on Fabrinet in a research note on Tuesday, July 8th. They set a "peer perform" rating for the company. JPMorgan Chase & Co. lifted their price target on Fabrinet from $235.00 to $318.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. 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, Rosenblatt Securities lifted their price target on Fabrinet from $250.00 to $290.00 and gave the stock a "buy" rating in a report on Thursday, June 12th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $261.33.

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.