Captrust Financial Advisors Grows Position in Fabrinet (NYSE:FN)

Captrust Financial Advisors boosted its stake in shares of Fabrinet (NYSE:FN) by 77.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,878 shares of the technology company’s stock after purchasing an additional 818 shares during the period. Captrust Financial Advisors’ holdings in Fabrinet were worth $413,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Assetmark Inc. increased its position in shares of Fabrinet by 12.0% in the fourth quarter. Assetmark Inc. now owns 484 shares of the technology company’s stock worth $106,000 after acquiring an additional 52 shares in the last quarter. CIBC Asset Management Inc boosted its position in Fabrinet by 5.7% during the 4th quarter. CIBC Asset Management Inc now owns 1,113 shares of the technology company’s stock worth $245,000 after purchasing an additional 60 shares during the period. Nations Financial Group Inc. IA ADV increased its holdings in Fabrinet by 2.4% in the 4th quarter. Nations Financial Group Inc. IA ADV now owns 2,941 shares of the technology company’s stock valued at $647,000 after purchasing an additional 68 shares in the last quarter. Janney Montgomery Scott LLC raised its position in Fabrinet by 2.6% in the fourth quarter. Janney Montgomery Scott LLC now owns 3,279 shares of the technology company’s stock valued at $721,000 after purchasing an additional 82 shares during the period. Finally, Transamerica Financial Advisors Inc. lifted its stake in shares of Fabrinet by 17.2% during the fourth quarter. Transamerica Financial Advisors Inc. now owns 565 shares of the technology company’s stock worth $125,000 after purchasing an additional 83 shares in the last quarter. Institutional investors and hedge funds own 97.38% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on FN shares. JPMorgan Chase & Co. raised their target price on Fabrinet from $220.00 to $235.00 and gave the company a “neutral” rating in a report on Tuesday, May 6th. Fox Advisors began coverage on Fabrinet in a research report on Tuesday, February 18th. They set an “overweight” rating and a $270.00 target price on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $280.00 price target on shares of Fabrinet in a report on Tuesday, May 6th. B. Riley raised Fabrinet from a “sell” rating to a “neutral” rating and reduced their target price for the stock from $178.00 to $176.00 in a report on Friday, April 4th. Finally, Barclays set a $234.00 target price on shares of Fabrinet and gave the company an “equal weight” rating in a research note on Tuesday, May 6th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $239.29.

Insiders Place Their Bets

In related news, Director Rollance E. Olson sold 2,500 shares of Fabrinet stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $223.98, for a total transaction of $559,950.00. Following the completion of the sale, the director now owns 23,201 shares of the company’s stock, valued at approximately $5,196,559.98. This trade represents a 9.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.38% of the company’s stock.

Fabrinet Price Performance

Shares of FN opened at $227.83 on Tuesday. The firm’s 50 day moving average is $203.54 and its 200-day moving average is $218.84. Fabrinet has a 12-month low of $148.55 and a 12-month high of $281.79. The stock has a market capitalization of $8.16 billion, a P/E ratio of 25.48 and a beta of 0.95.

Fabrinet (NYSE:FN) last posted its quarterly earnings data on Monday, May 5th. The technology company reported $2.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.47 by $0.05. Fabrinet had a return on equity of 18.48% and a net margin of 10.44%. The firm had revenue of $871.80 million for the quarter, compared to the consensus estimate of $857.12 million. During the same quarter in the previous year, the company earned $2.39 EPS. The business’s revenue for the quarter was up 19.2% compared to the same quarter last year. As a group, equities research analysts forecast that Fabrinet will post 9.4 EPS for the current fiscal year.

About Fabrinet

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.