SG Americas Securities LLC Invests $369,000 in Fabrinet (NYSE:FN)

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

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in Fabrinet by 2.8% in the fourth quarter. Vanguard Group Inc. now owns 4,137,579 shares of the technology company's stock valued at $909,771,000 after acquiring an additional 113,186 shares during the last quarter. FMR LLC boosted its stake in Fabrinet by 13.1% in 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 last quarter. Wasatch Advisors LP boosted its stake in Fabrinet by 47.0% in the fourth quarter. Wasatch Advisors LP now owns 1,132,636 shares of the technology company's stock valued at $249,044,000 after acquiring an additional 362,064 shares during the last quarter. Geode Capital Management LLC boosted its stake in Fabrinet by 2.0% in the fourth 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. boosted its stake in Fabrinet by 1.4% in the fourth quarter. JPMorgan Chase & Co. now owns 669,459 shares of the technology company's stock valued at $147,201,000 after acquiring an additional 9,058 shares during the last quarter. 97.38% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Fabrinet news, COO Harpal Gill sold 18,675 shares of the 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 sale, the chief operating officer now directly owns 18,068 shares in the company, valued at $4,336,320. This represents a 50.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 completion of the sale, the director now owns 23,201 shares in the company, valued at $5,196,559.98. This represents a 9.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.38% of the company's stock.

Fabrinet Trading Down 1.1%

Shares of FN stock traded down $3.26 during trading on Friday, reaching $295.67. 802,751 shares of the company's stock traded hands, compared to its average volume of 641,656. The company has a market capitalization of $10.59 billion, a P/E ratio of 32.93 and a beta of 0.98. The firm's 50-day moving average is $232.02 and its 200 day moving average is $220.49. Fabrinet has a 1 year low of $148.55 and a 1 year high of $300.29.

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

Analysts Set New Price Targets

FN has been the topic of a number of research analyst reports. Needham & Company LLC reiterated a "buy" rating and issued a $280.00 target price on shares of Fabrinet in a research note on Tuesday, May 6th. Barclays set a $234.00 target price on shares of Fabrinet and gave the company an "equal weight" rating in a research note on Tuesday, May 6th. Rosenblatt Securities upped 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. JPMorgan Chase & Co. upped their price target on shares of Fabrinet from $220.00 to $235.00 and gave the company a "neutral" rating in a research note on Tuesday, May 6th. Finally, B. Riley upgraded shares of Fabrinet from a "sell" rating to a "neutral" rating and dropped their price target for the company from $178.00 to $176.00 in a research note on Friday, April 4th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Fabrinet currently has a consensus rating of "Moderate Buy" and a consensus target price of $247.50.

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.