Nuveen Asset Management LLC Has $77.19 Million Stock Position in Fabrinet (NYSE:FN)

Nuveen Asset Management LLC grew its position in shares of Fabrinet (NYSE:FN - Free Report) by 4.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm 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 0.97% of Fabrinet worth $77,187,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Fabrinet by 2.8% in the fourth quarter. Vanguard Group Inc. now owns 4,137,579 shares of the technology company's stock worth $909,771,000 after purchasing an additional 113,186 shares during the last quarter. FMR LLC boosted its stake in shares of Fabrinet by 13.1% during the fourth quarter. FMR LLC now owns 2,213,887 shares of the technology company's stock worth $486,789,000 after buying an additional 257,164 shares during the period. Wasatch Advisors LP raised its holdings in Fabrinet by 47.0% during the fourth quarter. Wasatch Advisors LP now owns 1,132,636 shares of the technology company's stock worth $249,044,000 after purchasing an additional 362,064 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Fabrinet by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 1,006,858 shares of the technology company's stock valued at $221,430,000 after acquiring an additional 20,045 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Fabrinet by 1.4% in the 4th quarter. JPMorgan Chase & Co. now owns 669,459 shares of the technology company's stock valued at $147,201,000 after purchasing an additional 9,058 shares in the last quarter. Institutional investors own 97.38% of the company's stock.

Fabrinet Stock Down 0.4%

FN traded down $0.96 during trading on Wednesday, hitting $227.34. The company's stock had a trading volume of 698,325 shares, compared to its average volume of 626,921. The firm's 50 day moving average price is $203.62 and its two-hundred day moving average price is $218.90. Fabrinet has a 12 month low of $148.55 and a 12 month high of $281.79. The stock has a market capitalization of $8.15 billion, a price-to-earnings ratio of 25.43 and a beta of 0.95.

Fabrinet (NYSE:FN - Get Free Report) last announced its quarterly earnings results 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 company had revenue of $871.80 million during the quarter, compared to the consensus estimate of $857.12 million. Fabrinet had a net margin of 10.44% and a return on equity of 18.48%. The company's revenue for the quarter was up 19.2% compared to the same quarter last year. During the same period in the prior year, the business earned $2.39 earnings per share. On average, sell-side analysts forecast that Fabrinet will post 9.4 earnings per share for the current year.

Insiders Place Their Bets

In other Fabrinet news, Director Rollance E. Olson sold 2,500 shares of the 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 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.38% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Fox Advisors initiated coverage on shares of Fabrinet in a research note on Tuesday, February 18th. They issued an "overweight" rating and a $270.00 price objective for the company. Rosenblatt Securities upped their price objective on shares of Fabrinet from $230.00 to $250.00 and gave the stock a "buy" rating in a research report on Tuesday, May 6th. Needham & Company LLC reaffirmed a "buy" rating and issued a $280.00 price objective on shares of Fabrinet in a research report on Tuesday, May 6th. JPMorgan Chase & Co. raised their price objective on Fabrinet from $220.00 to $235.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. Finally, Barclays set a $234.00 target price on shares of Fabrinet and gave the stock an "equal weight" rating in a report on Tuesday, May 6th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $239.29.

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.