Sequoia Financial Advisors LLC Has $485,000 Holdings in Fabrinet (NYSE:FN)

Sequoia Financial Advisors LLC grew its stake in Fabrinet (NYSE:FN) by 6.4% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 2,549 shares of the technology company’s stock after buying an additional 153 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Fabrinet were worth $485,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in FN. Bank of Montreal Can increased its stake in shares of Fabrinet by 9.7% in the first quarter. Bank of Montreal Can now owns 11,292 shares of the technology company’s stock worth $1,217,000 after purchasing an additional 998 shares during the period. Rhumbline Advisers increased its stake in Fabrinet by 6.6% during the first quarter. Rhumbline Advisers now owns 90,911 shares of the technology company’s stock valued at $9,557,000 after acquiring an additional 5,603 shares during the period. BlackRock Inc. increased its stake in Fabrinet by 0.4% during the first quarter. BlackRock Inc. now owns 5,594,458 shares of the technology company’s stock valued at $588,146,000 after acquiring an additional 24,058 shares during the period. Yousif Capital Management LLC increased its stake in Fabrinet by 1.1% during the first quarter. Yousif Capital Management LLC now owns 34,565 shares of the technology company’s stock valued at $3,634,000 after acquiring an additional 365 shares during the period. Finally, Vanguard Group Inc. increased its stake in Fabrinet by 0.7% during the first quarter. Vanguard Group Inc. now owns 4,173,594 shares of the technology company’s stock valued at $438,770,000 after acquiring an additional 30,481 shares during the period. Institutional investors and hedge funds own 97.38% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on FN shares. Rosenblatt Securities restated a “buy” rating and set a $230.00 price target on shares of Fabrinet in a research note on Tuesday, February 6th. Needham & Company LLC decreased their price objective on Fabrinet from $230.00 to $220.00 and set a “buy” rating on the stock in a report on Friday, March 22nd. Northland Securities raised Fabrinet from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $200.00 to $220.00 in a report on Thursday, March 21st. Finally, JPMorgan Chase & Co. lifted their price objective on 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 given a buy rating to the stock. Based on data from MarketBeat, Fabrinet has an average rating of “Moderate Buy” and a consensus price target of $159.57.

Insider Buying and Selling at Fabrinet

In other Fabrinet news, Director Rollance E. Olson sold 10,000 shares of the company’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $205.52, for a total transaction of $2,055,200.00. Following the completion of the sale, the director now owns 25,981 shares in the company, valued at approximately $5,339,615.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.51% of the company’s stock.

Fabrinet Stock Performance

NYSE:FN opened at $172.81 on Wednesday. The stock’s fifty day moving average price is $196.69 and its two-hundred day moving average price is $185.55. Fabrinet has a 52-week low of $90.19 and a 52-week high of $229.02. The company has a market cap of $6.27 billion, a price-to-earnings ratio of 24.97 and a beta of 1.04.

Fabrinet (NYSE:FN) last posted its quarterly earnings data 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 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 the consensus estimate of $699.76 million. On average, equities analysts predict that Fabrinet will post 7.64 EPS for the current fiscal 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.