Stephens Investment Management Group LLC Has $31.07 Million Stock Holdings in Fabrinet (NYSE:FN)

Stephens Investment Management Group LLC grew its position in Fabrinet (NYSE:FN - Free Report) by 22.6% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 157,282 shares of the technology company's stock after purchasing an additional 28,948 shares during the period. Stephens Investment Management Group LLC owned about 0.44% of Fabrinet worth $31,065,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new position in Fabrinet during the 4th quarter worth about $95,084,000. Capital Research Global Investors lifted its position in Fabrinet by 675.2% during the 4th quarter. Capital Research Global Investors now owns 417,020 shares of the technology company's stock worth $91,694,000 after buying an additional 363,228 shares in the last quarter. Wasatch Advisors LP lifted its position in Fabrinet by 47.0% during the 4th quarter. Wasatch Advisors LP now owns 1,132,636 shares of the technology company's stock worth $249,044,000 after buying an additional 362,064 shares in the last quarter. FMR LLC lifted its position in Fabrinet by 13.1% during the 4th quarter. FMR LLC now owns 2,213,887 shares of the technology company's stock worth $486,789,000 after buying an additional 257,164 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its position in Fabrinet by 205.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 267,228 shares of the technology company's stock worth $58,758,000 after buying an additional 179,679 shares in the last quarter. Institutional investors and hedge funds own 97.38% of the company's stock.

Insider Transactions at Fabrinet

In other news, Director Rollance E. Olson sold 2,500 shares of the company's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $223.98, for a total value of $559,950.00. Following the completion of the sale, the director directly owned 23,201 shares of the company's stock, valued at $5,196,559.98. This represents a 9.73% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Harpal Gill sold 18,675 shares of the company's stock in a transaction dated 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 sale, the chief operating officer directly owned 18,068 shares of the company's stock, valued at approximately $4,336,320. This trade represents a 50.83% 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 Up 0.7%

Shares of NYSE:FN opened at $291.27 on Friday. The stock has a market capitalization of $10.44 billion, a P/E ratio of 32.44 and a beta of 1.04. Fabrinet has a 1-year low of $148.55 and a 1-year high of $300.29. The business has a 50-day moving average price of $250.27 and a two-hundred day moving average price of $224.78.

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 during the quarter, compared to analysts' expectations of $857.12 million. Fabrinet had a return on equity of 17.99% and a net margin of 10.00%. Fabrinet's revenue was up 19.2% on a year-over-year basis. During the same period in the prior year, the business posted $2.39 EPS. As a group, equities analysts predict that Fabrinet will post 9.4 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Rosenblatt Securities upped their price target on shares of Fabrinet from $250.00 to $290.00 and gave the stock a "buy" rating in a research report on Thursday, June 12th. Wolfe Research assumed coverage on shares of Fabrinet in a research report on Tuesday, July 8th. They set a "peer perform" rating on the stock. Needham & Company LLC reiterated a "buy" rating and set a $280.00 price target on shares of Fabrinet in a research report on Tuesday, May 6th. B. Riley raised Fabrinet from a "sell" rating to a "neutral" rating and dropped their price objective for the stock from $178.00 to $176.00 in a report on Friday, April 4th. Finally, JPMorgan Chase & Co. boosted their price objective on Fabrinet from $220.00 to $235.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $247.50.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.