Fabrinet (NYSE:FN) Shares Purchased by Nuveen Asset Management LLC

Nuveen Asset Management LLC boosted its position in Fabrinet (NYSE:FN - Free Report) by 4.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 351,041 shares of the technology company's stock after buying an additional 14,082 shares during the quarter. Nuveen Asset Management LLC owned approximately 0.97% of Fabrinet worth $77,187,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FN. Huntington National Bank boosted its stake in Fabrinet by 66.7% in the fourth quarter. Huntington National Bank now owns 230 shares of the technology company's stock valued at $51,000 after acquiring an additional 92 shares during the period. Quarry LP boosted its stake in Fabrinet by 315.8% in the fourth quarter. Quarry LP now owns 237 shares of the technology company's stock valued at $52,000 after acquiring an additional 180 shares during the period. IFP Advisors Inc boosted its stake in Fabrinet by 576.2% in the fourth quarter. IFP Advisors Inc now owns 284 shares of the technology company's stock valued at $63,000 after acquiring an additional 242 shares during the period. Assetmark Inc. boosted its stake in Fabrinet by 12.0% in the fourth quarter. Assetmark Inc. now owns 484 shares of the technology company's stock valued at $106,000 after acquiring an additional 52 shares during the period. Finally, Transamerica Financial Advisors Inc. boosted its stake in Fabrinet by 17.2% in the fourth quarter. Transamerica Financial Advisors Inc. now owns 565 shares of the technology company's stock valued at $125,000 after acquiring an additional 83 shares during the period. 97.38% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Barclays set a $234.00 target price on Fabrinet and gave the company an "equal weight" rating in a research note on Tuesday, May 6th. Needham & Company LLC restated a "buy" rating and issued a $280.00 target price on shares of Fabrinet in a research note on Tuesday, May 6th. B. Riley upgraded Fabrinet from a "sell" rating to a "neutral" rating and decreased their target price for the company from $178.00 to $176.00 in a research note on Friday, April 4th. Rosenblatt Securities boosted their price objective on Fabrinet from $230.00 to $250.00 and gave the stock a "buy" rating in a research report on Tuesday, May 6th. Finally, JPMorgan Chase & Co. boosted their price objective on Fabrinet from $220.00 to $235.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Fabrinet currently has a consensus rating of "Hold" and a consensus price target of $239.29.

Fabrinet Price Performance

Shares of NYSE FN traded up $2.16 during midday trading on Friday, hitting $230.41. 542,948 shares of the company's stock were exchanged, compared to its average volume of 627,546. The stock's 50 day moving average price is $204.05 and its 200-day moving average price is $218.88. The firm has a market cap of $8.26 billion, a P/E ratio of 25.77 and a beta of 0.95. Fabrinet has a twelve month low of $148.55 and a twelve month high of $281.79.

Fabrinet (NYSE:FN - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The technology company reported $2.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.47 by $0.05. The business had revenue of $871.80 million during the quarter, compared to the consensus estimate of $857.12 million. Fabrinet had a return on equity of 18.48% and a net margin of 10.44%. The business's revenue was up 19.2% on a year-over-year basis. During the same period in the previous year, the firm posted $2.39 earnings per share. On average, analysts expect that Fabrinet will post 9.4 EPS for the current fiscal year.

Insiders Place Their Bets

In other Fabrinet news, Director Rollance E. Olson sold 2,500 shares of the company'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 value of $559,950.00. Following the completion of the sale, the director now directly owns 23,201 shares in the company, valued at $5,196,559.98. This represents a 9.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.38% of the stock is currently owned by 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.