Janus Henderson Group PLC Has $35.30 Million Position in Fabrinet (NYSE:FN)

Janus Henderson Group PLC raised its holdings in Fabrinet (NYSE:FN - Free Report) by 38.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 160,518 shares of the technology company's stock after buying an additional 44,168 shares during the period. Janus Henderson Group PLC owned 0.44% of Fabrinet worth $35,297,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Fabrinet by 2.8% in the 4th quarter. Vanguard Group Inc. now owns 4,137,579 shares of the technology company's stock valued at $909,771,000 after buying an additional 113,186 shares during the last quarter. FMR LLC increased its stake in shares of 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 purchasing an additional 257,164 shares during the last quarter. Wasatch Advisors LP increased its stake in shares of 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 purchasing an additional 362,064 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Fabrinet by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 1,006,858 shares of the technology company's stock worth $221,430,000 after purchasing an additional 20,045 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of Fabrinet by 1.4% during the 4th quarter. JPMorgan Chase & Co. now owns 669,459 shares of the technology company's stock worth $147,201,000 after purchasing an additional 9,058 shares during the last quarter. 97.38% of the stock is currently owned by institutional investors and hedge funds.

Fabrinet Stock Performance

Shares of FN stock opened at $226.40 on Thursday. The company has a market capitalization of $8.11 billion, a price-to-earnings ratio of 25.32 and a beta of 0.95. The company has a 50-day simple moving average of $201.65 and a 200 day simple moving average of $219.61. Fabrinet has a 52 week low of $148.55 and a 52 week high of $281.79.

Fabrinet (NYSE:FN - Get Free Report) last announced its earnings results on Monday, May 5th. The technology company reported $2.52 EPS for the quarter, topping the consensus estimate of $2.47 by $0.05. The business had revenue of $871.80 million during the quarter, compared to the consensus estimate of $857.12 million. Fabrinet had a net margin of 10.44% and a return on equity of 18.48%. Fabrinet's revenue was up 19.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.39 EPS. Sell-side analysts forecast that Fabrinet will post 9.4 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on FN. 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 price objective on shares of Fabrinet from $220.00 to $235.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. Fox Advisors began coverage on shares of Fabrinet in a research note on Tuesday, February 18th. They set an "overweight" rating and a $270.00 price objective on the stock. Barclays set a $234.00 price objective on shares of Fabrinet and gave the stock an "equal weight" rating in a research note on Tuesday, May 6th. Finally, B. Riley raised shares of Fabrinet from a "sell" rating to a "neutral" rating and reduced their target price for the stock from $178.00 to $176.00 in a report on Friday, April 4th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $239.29.

Insider Buying and Selling at Fabrinet

In other Fabrinet news, Director Rollance E. Olson sold 2,500 shares of the business's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $223.98, for a total value 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. The trade was a 9.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.38% of the company's stock.

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.

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.