Vontobel Holding Ltd. Invests $257,000 in Fabrinet (NYSE:FN)

Vontobel Holding Ltd. purchased a new position in shares of Fabrinet (NYSE:FN) in the 4th quarter, Holdings Channel.com reports. The firm purchased 1,350 shares of the technology company’s stock, valued at approximately $257,000.

Other large investors have also modified their holdings of the company. Park Place Capital Corp purchased a new position in Fabrinet in the fourth quarter worth $26,000. Salem Investment Counselors Inc. purchased a new position in Fabrinet in the fourth quarter worth $29,000. Orion Capital Management LLC purchased a new position in Fabrinet in the third quarter worth $47,000. McGlone Suttner Wealth Management Inc. purchased a new position in Fabrinet in the fourth quarter worth $52,000. Finally, Signaturefd LLC raised its position in Fabrinet by 15.9% in the third quarter. Signaturefd LLC now owns 503 shares of the technology company’s stock worth $84,000 after acquiring an additional 69 shares in the last quarter. Hedge funds and other institutional investors own 97.38% of the company’s stock.

Fabrinet Stock Up 2.8 %

FN opened at $168.74 on Wednesday. The firm has a market cap of $6.13 billion, a P/E ratio of 24.38 and a beta of 1.04. Fabrinet has a 52 week low of $90.19 and a 52 week high of $229.02. The business’s fifty day simple moving average is $193.37 and its 200 day simple moving average is $185.34.

Fabrinet (NYSE:FN) last posted its quarterly earnings data on Monday, February 5th. The technology company reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.84 by $0.05. The business had revenue of $712.69 million for the quarter, compared to analyst estimates 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 expect that Fabrinet will post 7.59 EPS for the current fiscal year.

Insider Activity at Fabrinet

In related news, Director Rollance E. Olson sold 10,000 shares of the stock in a transaction 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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.51% of the company’s stock.

Wall Street Analyst Weigh In

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

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.