ProShare Advisors LLC Buys 3,498 Shares of Fabrinet (NYSE:FN)

ProShare Advisors LLC grew its stake in shares of Fabrinet (NYSE:FN - Free Report) by 41.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,966 shares of the technology company's stock after acquiring an additional 3,498 shares during the period. ProShare Advisors LLC's holdings in Fabrinet were worth $2,631,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Norges Bank bought a new position in Fabrinet in the 4th quarter worth about $95,084,000. Capital Research Global Investors grew its position in Fabrinet by 675.2% in the fourth quarter. Capital Research Global Investors now owns 417,020 shares of the technology company's stock worth $91,694,000 after buying an additional 363,228 shares during the last quarter. Wasatch Advisors LP boosted its position in shares of Fabrinet by 47.0% in 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 period. FMR LLC boosted its holdings in shares of Fabrinet by 13.1% in 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. Finally, Arrowstreet Capital Limited Partnership raised its stake 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 period. Institutional investors and hedge funds own 97.38% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on FN shares. Fox Advisors assumed coverage on shares of Fabrinet in a research note on Tuesday, February 18th. They set an "overweight" rating and a $270.00 target price for the company. JPMorgan Chase & Co. increased 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. Rosenblatt Securities boosted their target price on Fabrinet from $230.00 to $250.00 and gave the stock a "buy" rating in a report on Tuesday, May 6th. Needham & Company LLC reiterated a "buy" rating and set a $280.00 price target on shares of Fabrinet in a report on Tuesday, May 6th. Finally, B. Riley raised shares of Fabrinet from a "sell" rating to a "neutral" rating and decreased their price objective for the stock from $178.00 to $176.00 in a report on Friday, April 4th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $239.29.

Fabrinet Trading Up 0.9%

FN stock traded up $2.16 during trading on Monday, hitting $230.41. 542,948 shares of the stock traded hands, compared to its average volume of 628,458. The stock has a market cap of $8.26 billion, a price-to-earnings ratio of 25.77 and a beta of 0.95. Fabrinet has a one year low of $148.55 and a one year high of $281.79. The company has a 50 day simple moving average of $204.05 and a 200 day simple moving average of $218.38.

Fabrinet (NYSE:FN - Get Free Report) last announced its earnings results on Monday, May 5th. The technology company reported $2.52 EPS for the quarter, topping the consensus estimate of $2.47 by $0.05. The business had revenue of $871.80 million for 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%. Fabrinet's revenue was up 19.2% compared to the same quarter last year. During the same period in the previous year, the business earned $2.39 EPS. As a group, analysts predict that Fabrinet will post 9.4 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Rollance E. Olson sold 2,500 shares of the firm's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $223.98, for a total value of $559,950.00. Following the transaction, the director now owns 23,201 shares in the company, valued at $5,196,559.98. This trade represents a 9.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.38% of the company's stock.

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.