Strs Ohio Boosts Stake in Fabrinet (NYSE:FN)

Strs Ohio grew its holdings in shares of Fabrinet (NYSE:FN) by 85.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 10,200 shares of the technology company’s stock after buying an additional 4,700 shares during the quarter. Strs Ohio’s holdings in Fabrinet were worth $1,941,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings 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 buying an additional 16,228 shares in the last quarter. Advisors Asset Management Inc. boosted its holdings in shares of Fabrinet by 3.0% in the third quarter. Advisors Asset Management Inc. now owns 7,265 shares of the technology company’s stock valued at $1,210,000 after purchasing an additional 211 shares during the period. Redwood Investments LLC purchased a new stake in shares of Fabrinet in the fourth quarter valued at approximately $3,478,000. Wellington Management Group LLP grew 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 purchasing an additional 159,037 shares in the last quarter. Finally, Sei Investments Co. increased its holdings in Fabrinet by 16.8% during the 3rd quarter. Sei Investments Co. now owns 90,345 shares of the technology company’s stock worth $15,053,000 after purchasing an additional 13,022 shares during the period. 97.38% of the stock is currently owned by hedge funds and other institutional investors.

Fabrinet Stock Performance

NYSE:FN opened at $162.32 on Friday. The company’s 50-day simple moving average is $194.70 and its 200-day simple moving average is $185.35. Fabrinet has a fifty-two week low of $90.19 and a fifty-two week high of $229.02. The stock has a market capitalization of $5.89 billion, a P/E ratio of 23.46 and a beta of 1.04.

Fabrinet (NYSE:FN) last announced its earnings results on Monday, February 5th. The technology company reported $1.89 earnings per share for the quarter, beating 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 the consensus estimate of $699.76 million. On average, research analysts forecast that Fabrinet will post 7.59 EPS for the current year.

Insider Transactions at Fabrinet

In other Fabrinet news, Director Rollance E. Olson sold 10,000 shares of the stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $205.52, for a total value of $2,055,200.00. Following the completion of the sale, the director now directly owns 25,981 shares in the company, valued at $5,339,615.12. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.51% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. JPMorgan Chase & Co. increased their price target on Fabrinet from $210.00 to $212.00 and gave the stock a “neutral” rating in a research report on Thursday, April 11th. Needham & Company LLC cut their target price 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. Rosenblatt Securities restated a “buy” rating and issued a $230.00 price target on shares of Fabrinet in a report on Tuesday, February 6th. Finally, Northland Securities upgraded shares of Fabrinet from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $200.00 to $220.00 in a research note on Thursday, March 21st. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $159.57.

Fabrinet 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.