18,275 Shares in Fabrinet (NYSE:FN) Acquired by Redwood Investments LLC

Redwood Investments LLC bought a new stake in Fabrinet (NYSE:FNFree Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 18,275 shares of the technology company’s stock, valued at approximately $3,478,000. Redwood Investments LLC owned about 0.05% of Fabrinet at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in FN. Salem Investment Counselors Inc. bought a new position in shares of Fabrinet in the 4th quarter worth about $29,000. Federated Hermes Inc. grew its stake in Fabrinet by 652.6% during the third quarter. Federated Hermes Inc. now owns 429 shares of the technology company’s stock worth $41,000 after purchasing an additional 372 shares during the period. Orion Capital Management LLC bought a new stake in Fabrinet in the third quarter worth approximately $47,000. NewEdge Advisors LLC lifted its stake in Fabrinet by 39.9% in the first quarter. NewEdge Advisors LLC now owns 417 shares of the technology company’s stock valued at $50,000 after buying an additional 119 shares during the period. Finally, 1832 Asset Management L.P. bought a new position in shares of Fabrinet during the 4th quarter worth approximately $51,000. Institutional investors and hedge funds own 97.38% of the company’s stock.

Fabrinet Stock Performance

Shares of NYSE:FN opened at $189.02 on Monday. The company has a market capitalization of $6.86 billion, a P/E ratio of 27.32 and a beta of 1.04. The company’s 50-day moving average is $203.45 and its 200 day moving average is $183.02. Fabrinet has a fifty-two week low of $90.19 and a fifty-two week high of $229.02.

Fabrinet (NYSE:FNGet Free Report) last issued its quarterly earnings results on Monday, February 5th. The technology company reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.84 by $0.05. Fabrinet had a net margin of 9.35% and a return on equity of 17.27%. The company had revenue of $712.69 million during the quarter, compared to analyst estimates of $699.76 million. As a group, research analysts predict that Fabrinet will post 7.64 earnings per share for the current year.

Insider Transactions at Fabrinet

In related news, Director Rollance E. Olson sold 10,000 shares of Fabrinet stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 25,981 shares in the company, valued at approximately $5,339,615.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Needham & Company LLC cut their price objective on shares of Fabrinet from $230.00 to $220.00 and set a “buy” rating on the stock in a research report on Friday, March 22nd. Northland Securities upgraded Fabrinet from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $200.00 to $220.00 in a report on Thursday, March 21st. JPMorgan Chase & Co. downgraded Fabrinet from an “overweight” rating to a “neutral” rating and boosted their price objective for the company from $185.00 to $210.00 in a report on Monday, January 8th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $230.00 target price on shares of Fabrinet in a report on Tuesday, February 6th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $159.29.

Check Out Our Latest Research Report on FN

Fabrinet Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Fabrinet (NYSE:FN)

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