SG Americas Securities LLC Acquires New Stake in Fabrinet (NYSE:FN)

SG Americas Securities LLC bought a new stake in Fabrinet (NYSE:FN - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,866 shares of the technology company's stock, valued at approximately $369,000.

Several other hedge funds also recently modified their holdings of FN. Versant Capital Management Inc increased its stake in Fabrinet by 353.7% in the 1st quarter. Versant Capital Management Inc now owns 186 shares of the technology company's stock valued at $37,000 after buying an additional 145 shares during the last quarter. Huntington National Bank grew its holdings in shares of 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 in the last quarter. Quarry LP increased its position in shares of Fabrinet by 315.8% during 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 last quarter. Orion Capital Management LLC bought a new stake in Fabrinet during the fourth quarter worth $62,000. Finally, IFP Advisors Inc lifted its holdings in Fabrinet by 576.2% during the fourth quarter. IFP Advisors Inc now owns 284 shares of the technology company's stock worth $63,000 after acquiring an additional 242 shares during the period. Hedge funds and other institutional investors own 97.38% of the company's stock.

Fabrinet Stock Down 0.1%

Fabrinet stock traded down $0.37 during midday trading on Friday, reaching $298.56. The stock had a trading volume of 90,416 shares, compared to its average volume of 637,520. The firm has a market capitalization of $10.70 billion, a PE ratio of 33.28 and a beta of 0.98. Fabrinet has a 12 month low of $148.55 and a 12 month high of $304.00. The firm's 50-day moving average price is $229.78 and its 200 day moving average price is $220.38.

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

Insider Buying and Selling at Fabrinet

In other news, COO Harpal Gill sold 18,675 shares of the firm's stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $240.00, for a total value of $4,482,000.00. Following the completion of the transaction, the chief operating officer now directly owns 18,068 shares in the company, valued at approximately $4,336,320. This trade represents a 50.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Rollance E. Olson sold 2,500 shares of the business's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $223.98, for a total transaction of $559,950.00. Following the transaction, the director now directly owns 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. Insiders own 0.38% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on FN shares. JPMorgan Chase & Co. raised their target price on Fabrinet from $220.00 to $235.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. 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 report on Thursday, June 12th. Barclays set a $234.00 price objective on shares of Fabrinet and gave the stock an "equal weight" rating in a research report on Tuesday, May 6th. B. Riley raised shares of Fabrinet from a "sell" rating to a "neutral" rating and reduced their target price for the company from $178.00 to $176.00 in a research report on Friday, April 4th. Finally, Needham & Company LLC restated a "buy" rating and set a $280.00 price target on shares of Fabrinet in a research note on Tuesday, May 6th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $247.50.

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.