Fabrinet (NYSE:FN) Shares Acquired by AdvisorNet Financial Inc

AdvisorNet Financial Inc increased its position in Fabrinet (NYSE:FNFree Report) by 57.7% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,643 shares of the technology company’s stock after purchasing an additional 601 shares during the period. AdvisorNet Financial Inc’s holdings in Fabrinet were worth $313,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. BlackRock Inc. lifted its holdings in Fabrinet by 1.7% in the first quarter. BlackRock Inc. now owns 5,776,976 shares of the technology company’s stock worth $686,074,000 after acquiring an additional 93,882 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Fabrinet by 0.4% in the third quarter. Vanguard Group Inc. now owns 4,333,317 shares of the technology company’s stock worth $722,017,000 after acquiring an additional 16,228 shares during the last quarter. FMR LLC lifted its holdings in Fabrinet by 9.7% in the third quarter. FMR LLC now owns 1,987,726 shares of the technology company’s stock worth $331,195,000 after acquiring an additional 174,945 shares during the last quarter. Capital International Investors lifted its holdings in Fabrinet by 108.1% in the first quarter. Capital International Investors now owns 1,529,864 shares of the technology company’s stock worth $160,835,000 after acquiring an additional 794,833 shares during the last quarter. Finally, State Street Corp lifted its holdings in Fabrinet by 0.8% in the second quarter. State Street Corp now owns 1,258,991 shares of the technology company’s stock worth $163,518,000 after acquiring an additional 9,757 shares during the last quarter. 97.38% of the stock is currently owned by institutional investors and hedge funds.

Fabrinet Price Performance

Shares of NYSE:FN opened at $185.57 on Wednesday. Fabrinet has a 12 month low of $90.19 and a 12 month high of $229.02. The stock has a market cap of $6.74 billion, a price-to-earnings ratio of 26.82 and a beta of 1.04. The stock’s 50 day moving average price is $202.81 and its 200 day moving average price is $183.78.

Fabrinet (NYSE:FNGet Free Report) last announced its earnings results on Monday, February 5th. The technology company reported $1.89 EPS for the quarter, topping the consensus estimate of $1.84 by $0.05. Fabrinet had a return on equity of 17.27% and a net margin of 9.35%. The firm had revenue of $712.69 million for the quarter, compared to analysts’ expectations of $699.76 million. On average, sell-side analysts expect that Fabrinet will post 7.64 EPS for the current year.

Wall Street Analysts Forecast Growth

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

View Our Latest Research Report on Fabrinet

Insider Buying and Selling

In related news, Director Rollance E. Olson sold 10,000 shares of the business’s stock in a transaction that occurred 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 sale, the director now 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 is available through the SEC website. 0.51% of the stock is owned by corporate insiders.

Fabrinet 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.

Further Reading

Institutional Ownership by Quarter for Fabrinet (NYSE:FN)

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