Squarepoint Ops LLC Buys 76,803 Shares of Fabrinet (NYSE:FN)

Squarepoint Ops LLC lifted its position in shares of Fabrinet (NYSE:FN - Free Report) by 242.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 108,486 shares of the technology company's stock after purchasing an additional 76,803 shares during the period. Squarepoint Ops LLC owned 0.30% of Fabrinet worth $23,854,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of FN. Barclays PLC boosted its holdings in shares of Fabrinet by 304.6% during the 3rd quarter. Barclays PLC now owns 69,128 shares of the technology company's stock worth $16,345,000 after buying an additional 52,042 shares during the period. Nisa Investment Advisors LLC boosted its stake in Fabrinet by 9.2% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,271 shares of the technology company's stock valued at $279,000 after purchasing an additional 107 shares during the period. Janney Montgomery Scott LLC grew its holdings in Fabrinet by 2.6% in the 4th quarter. Janney Montgomery Scott LLC now owns 3,279 shares of the technology company's stock valued at $721,000 after buying an additional 82 shares in the last quarter. Avior Wealth Management LLC lifted its holdings in shares of Fabrinet by 24,520.0% during the fourth quarter. Avior Wealth Management LLC now owns 1,231 shares of the technology company's stock worth $271,000 after buying an additional 1,226 shares in the last quarter. Finally, Archford Capital Strategies LLC boosted its position in shares of Fabrinet by 4.7% in the fourth quarter. Archford Capital Strategies LLC now owns 1,886 shares of the technology company's stock valued at $415,000 after acquiring an additional 84 shares during the period. 97.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Fabrinet

In related news, Director Rollance E. Olson sold 2,500 shares of the firm's 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 of the company's stock, 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 document filed with the SEC, which is available at the SEC website. 0.38% of the stock is currently owned by corporate insiders.

Fabrinet Stock Performance

Shares of NYSE:FN traded up $2.16 during mid-day trading on Monday, reaching $230.41. 542,948 shares of the company's stock were exchanged, compared to its average volume of 628,458. The firm has a market capitalization of $8.26 billion, a price-to-earnings ratio of 25.77 and a beta of 0.95. Fabrinet has a twelve month low of $148.55 and a twelve month high of $281.79. The business's fifty day moving average price is $204.05 and its 200-day moving average price is $218.38.

Fabrinet (NYSE:FN - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The technology company reported $2.52 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 18.48% and a net margin of 10.44%. The business's quarterly revenue was up 19.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.39 earnings per share. Analysts predict that Fabrinet will post 9.4 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on FN shares. Needham & Company LLC restated a "buy" rating and set a $280.00 price objective on shares of Fabrinet in a research note on Tuesday, May 6th. JPMorgan Chase & Co. boosted their target price on shares of Fabrinet from $220.00 to $235.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. Barclays set a $234.00 price objective on shares of Fabrinet and gave the company an "equal weight" rating in a research note on Tuesday, May 6th. Rosenblatt Securities boosted their price objective on shares of Fabrinet from $230.00 to $250.00 and gave the company a "buy" rating in a research report on Tuesday, May 6th. Finally, Fox Advisors started coverage on shares of Fabrinet in a report on Tuesday, February 18th. They issued an "overweight" rating and a $270.00 target price for the company. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $239.29.

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.