Silvant Capital Management LLC Takes Position in Fabrinet (NYSE:FN)

Silvant Capital Management LLC bought a new stake in Fabrinet (NYSE:FN - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 6,571 shares of the technology company's stock, valued at approximately $1,251,000.

A number of other large investors have also recently made changes to their positions in FN. Park Place Capital Corp acquired a new stake in Fabrinet during the 4th quarter worth approximately $26,000. Salem Investment Counselors Inc. purchased a new position in shares of Fabrinet during the 4th quarter worth approximately $29,000. McGlone Suttner Wealth Management Inc. purchased a new position in shares of Fabrinet during the 4th quarter worth approximately $52,000. Orion Capital Management LLC purchased a new position in shares of Fabrinet during the 3rd quarter worth approximately $47,000. Finally, 1832 Asset Management L.P. purchased a new position in shares of Fabrinet during the 4th quarter worth approximately $51,000. 97.38% of the stock is owned by institutional investors and hedge funds.

Fabrinet Stock Performance

Fabrinet stock traded up $0.22 during midday trading on Friday, reaching $187.45. The stock had a trading volume of 255,666 shares, compared to its average volume of 452,113. Fabrinet has a twelve month low of $90.19 and a twelve month high of $229.02. The stock has a market capitalization of $6.81 billion, a PE ratio of 27.09 and a beta of 1.04. The stock's 50-day simple moving average is $201.60 and its 200 day simple moving average is $184.33.

Fabrinet (NYSE:FN - Get Free Report) last issued its quarterly earnings data on Monday, February 5th. The technology company reported $1.89 EPS for the quarter, topping analysts' consensus estimates of $1.84 by $0.05. The company had revenue of $712.69 million for the quarter, compared to analysts' expectations of $699.76 million. Fabrinet had a return on equity of 17.27% and a net margin of 9.35%. Equities analysts predict that Fabrinet will post 7.64 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Rollance E. Olson sold 10,000 shares of Fabrinet stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $205.52, for a total transaction of $2,055,200.00. Following the sale, the director now directly owns 25,981 shares of the company's stock, valued at $5,339,615.12. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.51% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on FN shares. Needham & Company LLC dropped their price objective on Fabrinet from $230.00 to $220.00 and set a "buy" rating for the company in a research note on Friday, March 22nd. Rosenblatt Securities reaffirmed a "buy" rating and issued a $230.00 price objective on shares of Fabrinet in a research note on Tuesday, February 6th. Northland Securities raised Fabrinet from a "market perform" rating to an "outperform" rating and raised their price objective for the company from $200.00 to $220.00 in a research note on Thursday, March 21st. Finally, JPMorgan Chase & Co. downgraded Fabrinet from an "overweight" rating to a "neutral" rating and raised their price target for the stock from $185.00 to $210.00 in a research report on Monday, January 8th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $159.29.

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.