Fabrinet (NYSE:FN) Shares Bought by Nicholas Investment Partners LP

Nicholas Investment Partners LP increased its position in shares of Fabrinet (NYSE:FN - Free Report) by 27.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 26,120 shares of the technology company's stock after buying an additional 5,698 shares during the quarter. Nicholas Investment Partners LP owned about 0.07% of Fabrinet worth $5,743,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Fabrinet by 2.8% during the fourth 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 in the last quarter. FMR LLC grew its stake in shares of Fabrinet by 13.1% during the fourth 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 in the last quarter. Wasatch Advisors LP grew its stake in shares of Fabrinet by 47.0% during the fourth 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 in the last quarter. Geode Capital Management LLC grew its stake in shares of Fabrinet by 2.0% during the fourth 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 in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Fabrinet by 1.4% during the fourth 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 in the last quarter. Institutional investors and hedge funds own 97.38% of the company's stock.

Insider Transactions 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 transaction of $559,950.00. Following the sale, the director now directly owns 23,201 shares in the company, valued at approximately $5,196,559.98. The trade was a 9.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.38% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. B. Riley raised shares of Fabrinet from a "sell" rating to a "neutral" rating and reduced their price target for the company from $178.00 to $176.00 in a research report on Friday, April 4th. JPMorgan Chase & Co. boosted their price target 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. Needham & Company LLC reiterated a "buy" rating and set a $280.00 price target on shares of Fabrinet in a research note on Tuesday, May 6th. Rosenblatt Securities boosted their price target on shares of Fabrinet from $230.00 to $250.00 and gave the stock a "buy" rating in a research note on Tuesday, May 6th. Finally, Fox Advisors began coverage on shares of Fabrinet in a research report on Tuesday, February 18th. They set an "overweight" rating and a $270.00 target price on the stock. Four research 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, the company presently has an average rating of "Hold" and a consensus price target of $239.29.

Fabrinet Stock Down 0.8%

Shares of FN stock traded down $1.87 during mid-day trading on Monday, reaching $227.69. The company's stock had a trading volume of 240,973 shares, compared to its average volume of 624,124. The firm has a market capitalization of $8.16 billion, a PE ratio of 25.47 and a beta of 0.95. Fabrinet has a 12-month low of $148.55 and a 12-month high of $281.79. The company's 50 day simple moving average is $203.02 and its 200-day simple moving average is $218.94.

Fabrinet (NYSE:FN - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The technology company reported $2.52 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.47 by $0.05. Fabrinet had a net margin of 10.44% and a return on equity of 18.48%. The company had revenue of $871.80 million for the quarter, compared to the consensus estimate of $857.12 million. During the same period last year, the firm posted $2.39 EPS. The company's revenue for the quarter was up 19.2% on a year-over-year basis. As a group, research analysts anticipate that Fabrinet will post 9.4 EPS 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.