1,024 Shares in Fabrinet (NYSE:FN) Acquired by World Investment Advisors

World Investment Advisors acquired a new stake in Fabrinet (NYSE:FN - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 1,024 shares of the technology company's stock, valued at approximately $202,000.

A number of other institutional investors also recently modified their holdings of FN. Assetmark Inc. boosted its position in Fabrinet by 12.0% during the fourth quarter. Assetmark Inc. now owns 484 shares of the technology company's stock worth $106,000 after purchasing an additional 52 shares during the period. Proficio Capital Partners LLC purchased a new position in Fabrinet during the 4th quarter valued at $8,412,000. Raymond James Financial Inc. bought a new position in Fabrinet in the 4th quarter worth about $24,844,000. PNC Financial Services Group Inc. boosted its stake in Fabrinet by 12.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,678 shares of the technology company's stock worth $809,000 after purchasing an additional 418 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Fabrinet by 15.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,534 shares of the technology company's stock valued at $2,096,000 after acquiring an additional 1,262 shares during the period. 97.38% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on FN. Barclays set a $234.00 target price on shares of Fabrinet and gave the stock an "equal weight" rating in a report on Tuesday, May 6th. JPMorgan Chase & Co. raised their price target on Fabrinet from $220.00 to $235.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. Needham & Company LLC restated a "buy" rating and issued a $280.00 price target on shares of Fabrinet in a research report on Tuesday, May 6th. Rosenblatt Securities raised their price target on Fabrinet from $250.00 to $290.00 and gave the stock a "buy" rating in a research report on Thursday, June 12th. Finally, B. Riley upgraded Fabrinet from a "sell" rating to a "neutral" rating and lowered their price target for the stock from $178.00 to $176.00 in a research report on Friday, April 4th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $247.50.

Insider Activity

In related news, COO Harpal Gill sold 18,675 shares of Fabrinet stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $240.00, for a total transaction of $4,482,000.00. Following the completion of the sale, the chief operating officer owned 18,068 shares of the company's stock, valued at $4,336,320. The trade was a 50.83% decrease in their ownership of the stock. 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 Fabrinet 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 sale, the director directly owned 23,201 shares of the company's stock, valued at $5,196,559.98. This trade represents a 9.73% decrease in their position. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by company insiders.

Fabrinet Stock Performance

FN stock traded up $5.41 during midday trading on Tuesday, reaching $301.87. The company's stock had a trading volume of 441,930 shares, compared to its average volume of 649,107. The stock has a fifty day simple moving average of $251.75 and a two-hundred day simple moving average of $225.32. Fabrinet has a 1 year low of $148.55 and a 1 year high of $312.69. The firm has a market capitalization of $10.82 billion, a price-to-earnings ratio of 33.62 and a beta of 1.04.

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 return on equity of 17.99% and a net margin of 10.00%. The firm had revenue of $871.80 million for the quarter, compared to analyst estimates of $857.12 million. During the same quarter last year, the firm posted $2.39 earnings per share. The business's revenue for the quarter was up 19.2% on a year-over-year basis. As a group, analysts forecast that Fabrinet will post 9.4 EPS for the current fiscal year.

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.