Sumitomo Mitsui Trust Holdings Inc. Takes $1.21 Million Position in Fabrinet (NYSE:FN)

Sumitomo Mitsui Trust Holdings Inc. purchased a new position in Fabrinet (NYSE:FN - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,353 shares of the technology company's stock, valued at approximately $1,209,000.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in Fabrinet by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 4,333,317 shares of the technology company's stock valued at $722,017,000 after purchasing an additional 16,228 shares during the period. FMR LLC increased its holdings in Fabrinet by 9.7% during the third quarter. FMR LLC now owns 1,987,726 shares of the technology company's stock valued at $331,195,000 after buying an additional 174,945 shares during the period. Wellington Management Group LLP raised its stake in Fabrinet by 21.3% in the third quarter. Wellington Management Group LLP now owns 904,505 shares of the technology company's stock worth $150,709,000 after buying an additional 159,037 shares in the last quarter. Baillie Gifford & Co. lifted its holdings in Fabrinet by 190.0% during the fourth quarter. Baillie Gifford & Co. now owns 563,805 shares of the technology company's stock worth $107,309,000 after buying an additional 369,389 shares during the period. Finally, Vaughan Nelson Investment Management L.P. boosted its position in Fabrinet by 0.5% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 496,076 shares of the technology company's stock valued at $82,656,000 after acquiring an additional 2,666 shares in the last quarter. Hedge funds and other institutional investors own 97.38% of the company's stock.

Analysts Set New Price Targets

FN has been the subject of several recent analyst reports. Rosenblatt Securities restated a "buy" rating and issued a $230.00 target price on shares of Fabrinet in a research note on Tuesday, February 6th. Northland Securities upgraded Fabrinet from a "market perform" rating to an "outperform" rating and increased their price target for the company from $200.00 to $220.00 in a research note on Thursday, March 21st. Needham & Company LLC dropped their price target on Fabrinet from $230.00 to $220.00 and set a "buy" rating on the stock in a research note on Friday, March 22nd. Finally, JPMorgan Chase & Co. upped their price objective on shares of Fabrinet from $210.00 to $212.00 and gave the company a "neutral" rating in a report on Thursday, April 11th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, Fabrinet presently has a consensus rating of "Moderate Buy" and an average price target of $159.57.

Insider Activity

In other news, Director Rollance E. Olson sold 10,000 shares of the firm's stock in a transaction on Monday, February 12th. The shares were sold at an average price of $205.52, for a total value of $2,055,200.00. Following the sale, the director now directly owns 25,981 shares in the company, valued at approximately $5,339,615.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.51% of the company's stock.

Fabrinet Stock Performance

Shares of FN stock traded up $3.25 on Friday, reaching $175.45. 218,050 shares of the company were exchanged, compared to its average volume of 446,401. The business has a 50-day moving average price of $191.71 and a 200 day moving average price of $185.14. The company has a market cap of $6.37 billion, a price-to-earnings ratio of 25.35 and a beta of 1.04. Fabrinet has a 1 year low of $90.19 and a 1 year high of $229.02.

Fabrinet (NYSE:FN - Get Free Report) last released its quarterly earnings results 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%. As a group, equities analysts anticipate that Fabrinet will post 7.59 earnings per share for the current 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.