World Investment Advisors Purchases New Stake in Fabrinet (NYSE:FN)

World Investment Advisors acquired a new position in shares of Fabrinet (NYSE:FN - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,024 shares of the technology company's stock, valued at approximately $202,000.

Several other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in shares of Fabrinet by 2.8% during the 4th quarter. Vanguard Group Inc. now owns 4,137,579 shares of the technology company's stock worth $909,771,000 after purchasing an additional 113,186 shares during the last quarter. FMR LLC lifted 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 purchasing an additional 257,164 shares during the last quarter. Wasatch Advisors LP lifted 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 purchasing an additional 362,064 shares during the last quarter. Geode Capital Management LLC lifted 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 purchasing an additional 20,045 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted 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 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, COO Harpal Gill sold 18,675 shares of the firm's stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $240.00, for a total transaction of $4,482,000.00. Following the sale, the chief operating officer owned 18,068 shares in the company, valued at approximately $4,336,320. This trade represents a 50.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Rollance E. Olson sold 2,500 shares of the company's stock in a transaction 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 transaction, the director owned 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 disclosure for this sale can be found here. Company insiders own 0.38% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on FN shares. JPMorgan Chase & Co. lifted 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. Rosenblatt Securities lifted their target price on shares of Fabrinet from $250.00 to $290.00 and gave the stock a "buy" rating in a research note on Thursday, June 12th. B. Riley raised shares of Fabrinet from a "sell" rating to a "neutral" rating and lowered their price target for the company from $178.00 to $176.00 in a research report on Friday, April 4th. Needham & Company LLC reaffirmed a "buy" rating and issued a $280.00 price objective on shares of Fabrinet in a report on Tuesday, May 6th. Finally, Wolfe Research assumed coverage on shares of Fabrinet in a report on Tuesday. They issued a "peer perform" rating for the company. Four investment 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 currently has an average rating of "Hold" and an average price target of $247.50.

Fabrinet Price Performance

NYSE:FN opened at $291.27 on Friday. The stock's fifty day moving average price is $250.27 and its two-hundred day moving average price is $224.76. The company has a market cap 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.

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 the consensus estimate of $2.47 by $0.05. Fabrinet had a net margin of 10.00% and a return on equity of 17.99%. The firm had revenue of $871.80 million during the quarter, compared to the consensus estimate of $857.12 million. During the same period last year, the firm earned $2.39 EPS. The business's quarterly revenue was up 19.2% compared to the same quarter last year. On average, analysts expect that Fabrinet will post 9.4 earnings per share for the current fiscal year.

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.

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