Cetera Investment Advisers Has $2.61 Million Stock Position in Fabrinet (NYSE:FN)

Cetera Investment Advisers grew its holdings in shares of Fabrinet (NYSE:FN) by 11.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,212 shares of the technology company’s stock after buying an additional 1,368 shares during the quarter. Cetera Investment Advisers’ holdings in Fabrinet were worth $2,610,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. LPL Financial LLC lifted its position in shares of Fabrinet by 110.4% during the fourth quarter. LPL Financial LLC now owns 14,531 shares of the technology company’s stock valued at $3,195,000 after purchasing an additional 7,624 shares in the last quarter. Wells Fargo & Company MN lifted its position in shares of Fabrinet by 10.1% during the fourth quarter. Wells Fargo & Company MN now owns 47,191 shares of the technology company’s stock valued at $10,376,000 after purchasing an additional 4,340 shares in the last quarter. FMR LLC lifted its position in shares of Fabrinet by 13.1% during the fourth quarter. FMR LLC now owns 2,213,887 shares of the technology company’s stock valued at $486,789,000 after purchasing an additional 257,164 shares in the last quarter. Bank of Montreal Can lifted its position in shares of Fabrinet by 2.5% during the fourth quarter. Bank of Montreal Can now owns 18,891 shares of the technology company’s stock valued at $4,154,000 after purchasing an additional 466 shares in the last quarter. Finally, Shelton Capital Management bought a new position in shares of Fabrinet during the fourth quarter valued at about $306,000. 97.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on FN. Rosenblatt Securities raised their price target on shares of Fabrinet from $250.00 to $290.00 and gave the company a “buy” rating in a research report on Thursday, June 12th. Needham & Company LLC reaffirmed a “buy” rating and issued a $280.00 price objective on shares of Fabrinet in a research report on Tuesday, May 6th. JPMorgan Chase & Co. lifted their price objective on shares of Fabrinet from $235.00 to $318.00 and gave the stock a “neutral” rating in a research report on Thursday, July 17th. Wolfe Research started coverage on shares of Fabrinet in a research report on Tuesday, July 8th. They issued a “peer perform” rating on the stock. Finally, Barclays set a $234.00 price objective on shares of Fabrinet and gave the stock an “equal weight” rating in a research report on Tuesday, May 6th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $261.33.

Fabrinet Stock Up 1.4%

NYSE FN opened at $332.60 on Thursday. The company’s 50 day moving average is $280.72 and its 200-day moving average is $234.73. Fabrinet has a 12-month low of $148.55 and a 12-month high of $333.79. The firm has a market cap of $11.92 billion, a P/E ratio of 37.04 and a beta of 1.02.

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

Insider Activity at Fabrinet

In other Fabrinet news, Director Rollance E. Olson sold 2,500 shares of the business’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 completion of the transaction, the director owned 23,201 shares of the company’s stock, valued at $5,196,559.98. The trade was a 9.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Harpal Gill sold 18,675 shares of the business’s 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 transaction, the chief operating officer directly owned 18,068 shares of the company’s stock, valued at approximately $4,336,320. This represents a 50.83% decrease in their position. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by insiders.

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.