Fabrinet (NYSE:FN) Holdings Raised by KBC Group NV

KBC Group NV increased its stake in Fabrinet (NYSE:FN) by 12.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,594 shares of the technology company’s stock after purchasing an additional 172 shares during the quarter. KBC Group NV’s holdings in Fabrinet were worth $315,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Versant Capital Management Inc lifted its holdings in shares of Fabrinet by 353.7% in the first quarter. Versant Capital Management Inc now owns 186 shares of the technology company’s stock valued at $37,000 after buying an additional 145 shares during the period. Huntington National Bank lifted its holdings in Fabrinet by 66.7% in the 4th quarter. Huntington National Bank now owns 230 shares of the technology company’s stock valued at $51,000 after acquiring an additional 92 shares during the last quarter. Quarry LP lifted its holdings in Fabrinet by 315.8% in the 4th quarter. Quarry LP now owns 237 shares of the technology company’s stock valued at $52,000 after acquiring an additional 180 shares during the last quarter. Orion Capital Management LLC bought a new position in shares of Fabrinet during the 4th quarter valued at about $62,000. Finally, UMB Bank n.a. grew its stake in shares of Fabrinet by 103.1% in the 1st quarter. UMB Bank n.a. now owns 398 shares of the technology company’s stock worth $79,000 after purchasing an additional 202 shares during the last quarter. Institutional investors own 97.38% of the company’s stock.

Insider Transactions at Fabrinet

In other Fabrinet news, Director Rollance E. Olson sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $223.98, for a total value of $559,950.00. Following the transaction, the director owned 23,201 shares in the company, valued at approximately $5,196,559.98. This represents a 9.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Harpal Gill sold 18,675 shares of the stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $240.00, for a total transaction of $4,482,000.00. Following the completion of the sale, the chief operating officer owned 18,068 shares of the company’s stock, valued at approximately $4,336,320. The trade was a 50.83% decrease in their position. The disclosure for this sale can be found here. 0.38% of the stock is owned by corporate insiders.

Fabrinet Stock Performance

Fabrinet stock opened at $291.59 on Friday. Fabrinet has a 52 week low of $148.55 and a 52 week high of $300.29. The firm has a market capitalization of $10.45 billion, a price-to-earnings ratio of 32.47 and a beta of 1.04. The company has a 50 day moving average price of $242.38 and a 200 day moving average price of $222.48.

Fabrinet (NYSE:FN) last issued its earnings results on Monday, May 5th. The technology company reported $2.52 EPS for the quarter, topping the consensus estimate of $2.47 by $0.05. The business had revenue of $871.80 million during the quarter, compared to analysts’ expectations of $857.12 million. Fabrinet had a return on equity of 17.99% and a net margin of 10.00%. Fabrinet’s revenue was up 19.2% compared to the same quarter last year. During the same quarter last year, the firm posted $2.39 earnings per share. Equities analysts forecast that Fabrinet will post 9.4 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on FN shares. Rosenblatt Securities raised their target price on shares of Fabrinet from $250.00 to $290.00 and gave the stock a “buy” rating in a report on Thursday, June 12th. JPMorgan Chase & Co. increased their price objective on Fabrinet from $220.00 to $235.00 and gave the company a “neutral” rating in a research report on Tuesday, May 6th. Barclays set a $234.00 target price on Fabrinet and gave the stock an “equal weight” rating in a report on Tuesday, May 6th. B. Riley raised Fabrinet from a “sell” rating to a “neutral” rating and cut their target price for the stock from $178.00 to $176.00 in a research report on Friday, April 4th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $280.00 price target on shares of Fabrinet in a research report on Tuesday, May 6th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $247.50.

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.