Rice Hall James & Associates LLC Has $24.26 Million Stake in Fabrinet (NYSE:FN)

Rice Hall James & Associates LLC decreased its stake in shares of Fabrinet (NYSE:FN - Free Report) by 1.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 122,832 shares of the technology company's stock after selling 2,156 shares during the period. Fabrinet makes up about 1.4% of Rice Hall James & Associates LLC's investment portfolio, making the stock its 21st largest holding. Rice Hall James & Associates LLC owned about 0.34% of Fabrinet worth $24,261,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently made changes to their positions in FN. Wayfinding Financial LLC acquired a new position in Fabrinet during the first quarter worth $30,000. Berbice Capital Management LLC acquired a new position in Fabrinet during the first quarter worth $30,000. Private Trust Co. NA boosted its holdings in Fabrinet by 44.3% during the first quarter. Private Trust Co. NA now owns 166 shares of the technology company's stock worth $33,000 after purchasing an additional 51 shares during the last quarter. Versant Capital Management Inc boosted its holdings in Fabrinet by 353.7% during the first quarter. Versant Capital Management Inc now owns 186 shares of the technology company's stock worth $37,000 after purchasing an additional 145 shares during the last quarter. Finally, Huntington National Bank boosted its holdings in Fabrinet by 66.7% during the fourth quarter. Huntington National Bank now owns 230 shares of the technology company's stock worth $51,000 after purchasing an additional 92 shares during the last quarter. Institutional investors own 97.38% of the company's stock.

Insider Transactions at Fabrinet

In other news, COO Harpal Gill sold 18,675 shares of the firm's stock in a transaction dated Wednesday, June 4th. The shares were 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 owned 18,068 shares in the company, valued at approximately $4,336,320. This trade represents a 50.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 transaction of $559,950.00. Following the sale, the director owned 23,201 shares of the company's stock, valued at approximately $5,196,559.98. This represents a 9.73% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.38% of the company's stock.

Fabrinet Price Performance

FN stock traded up $11.86 during trading hours on Thursday, reaching $309.31. The stock had a trading volume of 388,154 shares, compared to its average volume of 650,330. The stock has a market capitalization of $11.08 billion, a PE ratio of 34.44 and a beta of 1.04. The stock has a 50-day simple moving average of $257.47 and a 200 day simple moving average of $227.00. Fabrinet has a fifty-two week low of $148.55 and a fifty-two week high of $310.16.

Fabrinet (NYSE:FN - Get Free Report) last posted its earnings results on Monday, May 5th. The technology company reported $2.52 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.47 by $0.05. The company had revenue of $871.80 million during the quarter, compared to analysts' expectations of $857.12 million. Fabrinet had a net margin of 10.00% and a return on equity of 17.99%. Fabrinet's quarterly revenue was up 19.2% compared to the same quarter last year. During the same quarter last year, the company posted $2.39 EPS. On average, sell-side analysts forecast that Fabrinet will post 9.4 EPS for the current fiscal year.

Analysts Set New Price Targets

FN has been the subject of several recent research reports. Needham & Company LLC restated a "buy" rating and set a $280.00 target price on shares of Fabrinet in a report on Tuesday, May 6th. Wolfe Research assumed coverage on shares of Fabrinet in a research note on Tuesday, July 8th. They issued a "peer perform" rating for the company. JPMorgan Chase & Co. increased their price target on shares of Fabrinet from $235.00 to $318.00 and gave the company a "neutral" rating in a research note on Thursday. B. Riley upgraded shares of Fabrinet from a "sell" rating to a "neutral" rating and cut their price target for the company from $178.00 to $176.00 in a research note on Friday, April 4th. Finally, Rosenblatt Securities increased their price target on shares of Fabrinet from $250.00 to $290.00 and gave the company a "buy" rating in a research note on Thursday, June 12th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $261.33.

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.