Royal Bank of Canada Has $34.84 Million Position in Fabrinet (NYSE:FN)

Royal Bank of Canada raised its position in Fabrinet (NYSE:FN - Free Report) by 28.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 158,450 shares of the technology company's stock after acquiring an additional 34,828 shares during the period. Royal Bank of Canada owned about 0.44% of Fabrinet worth $34,840,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Fabrinet by 2.8% in the 4th quarter. Vanguard Group Inc. now owns 4,137,579 shares of the technology company's stock worth $909,771,000 after buying an additional 113,186 shares in the last quarter. FMR LLC lifted its holdings 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 valued at $486,789,000 after acquiring an additional 257,164 shares during the period. Wasatch Advisors LP grew its holdings 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 worth $249,044,000 after purchasing an additional 362,064 shares during the last quarter. Geode Capital Management LLC increased its position 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 worth $221,430,000 after purchasing an additional 20,045 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in Fabrinet by 1.4% during 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 during the last quarter. Institutional investors own 97.38% of the company's stock.

Insider Buying and Selling

In other news, Director Rollance E. Olson sold 2,500 shares of the business's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $223.98, for a total value of $559,950.00. Following the sale, the director now owns 23,201 shares of the company's stock, valued at $5,196,559.98. The trade was 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 the SEC website. 0.38% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on FN shares. JPMorgan Chase & Co. boosted their target price on shares of Fabrinet from $220.00 to $235.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. Fox Advisors started coverage on shares of Fabrinet in a research report on Tuesday, February 18th. They set an "overweight" rating and a $270.00 target price on the stock. Barclays set a $234.00 price target on shares of Fabrinet and gave the stock an "equal weight" rating in a research note on Tuesday, May 6th. B. Riley raised shares of Fabrinet from a "sell" rating to a "neutral" rating and reduced their price objective for the company from $178.00 to $176.00 in a research note on Friday, April 4th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $280.00 target price on shares of Fabrinet in a research report on Tuesday, May 6th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $239.29.

Fabrinet Stock Performance

FN stock traded down $2.23 during mid-day trading on Wednesday, hitting $232.48. 46,007 shares of the company were exchanged, compared to its average volume of 625,586. Fabrinet has a 1-year low of $148.55 and a 1-year high of $281.79. The firm's 50 day simple moving average is $204.40 and its 200 day simple moving average is $218.20. The firm has a market cap of $8.33 billion, a P/E ratio of 26.01 and a beta of 0.95.

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

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.