18,200 Shares in Fabrinet (NYSE:FN) Bought by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System purchased a new position in shares of Fabrinet (NYSE:FN - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 18,200 shares of the technology company's stock, valued at approximately $3,464,000. Louisiana State Employees Retirement System owned approximately 0.05% of Fabrinet as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FN. Park Place Capital Corp bought a new stake in shares of Fabrinet in the 4th quarter valued at approximately $26,000. Salem Investment Counselors Inc. acquired a new position in Fabrinet during the 4th quarter valued at approximately $29,000. Federated Hermes Inc. boosted its position in Fabrinet by 652.6% during the 3rd quarter. Federated Hermes Inc. now owns 429 shares of the technology company's stock valued at $41,000 after purchasing an additional 372 shares during the period. Orion Capital Management LLC acquired a new position in Fabrinet during the 3rd quarter valued at approximately $47,000. Finally, NewEdge Advisors LLC boosted its position in Fabrinet by 39.9% during the 1st quarter. NewEdge Advisors LLC now owns 417 shares of the technology company's stock valued at $50,000 after purchasing an additional 119 shares during the period. 97.38% of the stock is owned by institutional investors and hedge funds.

Fabrinet Price Performance

Shares of Fabrinet stock traded down $0.27 during trading on Monday, hitting $173.06. The stock had a trading volume of 435,090 shares, compared to its average volume of 455,778. The business has a fifty day moving average of $197.90 and a two-hundred day moving average of $185.47. The firm has a market cap of $6.28 billion, a P/E ratio of 24.98 and a beta of 1.04. Fabrinet has a fifty-two week low of $90.19 and a fifty-two week high of $229.02.

Fabrinet (NYSE:FN - Get Free Report) last announced its earnings results on Monday, February 5th. The technology company reported $1.89 earnings per share (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 analyst estimates of $699.76 million. Fabrinet had a return on equity of 17.27% and a net margin of 9.35%. As a group, research analysts forecast that Fabrinet will post 7.64 earnings per share for the current year.

Insider Activity at Fabrinet

In related news, Director Rollance E. Olson sold 10,000 shares of the company's stock in a transaction on 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 transaction, the director now directly owns 25,981 shares of the company's stock, valued at $5,339,615.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.51% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts have issued reports on FN shares. JPMorgan Chase & Co. boosted their price target on Fabrinet from $210.00 to $212.00 and gave the stock a "neutral" rating in a research report on Thursday. Needham & Company LLC reduced their price target on Fabrinet from $230.00 to $220.00 and set a "buy" rating for the company in a research report on Friday, March 22nd. Northland Securities upgraded Fabrinet from a "market perform" rating to an "outperform" rating and boosted their price target for the stock from $200.00 to $220.00 in a research report on Thursday, March 21st. Finally, Rosenblatt Securities reiterated a "buy" rating and set a $230.00 price target on shares of Fabrinet in a research report on Tuesday, February 6th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, Fabrinet has an average rating of "Moderate Buy" and a consensus price target of $159.57.

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.