Fabrinet (NYSE:FN) Position Boosted by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. raised its holdings in shares of Fabrinet (NYSE:FN) by 167.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,206 shares of the technology company’s stock after acquiring an additional 4,513 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Fabrinet were worth $1,764,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of FN. Congress Asset Management Co. MA acquired a new stake in Fabrinet in the 4th quarter worth approximately $99,045,000. Baillie Gifford & Co. lifted its holdings in Fabrinet by 190.0% in the 4th quarter. Baillie Gifford & Co. now owns 563,805 shares of the technology company’s stock worth $107,309,000 after purchasing an additional 369,389 shares during the last quarter. TD Asset Management Inc lifted its holdings in Fabrinet by 216.1% in the 1st quarter. TD Asset Management Inc now owns 409,761 shares of the technology company’s stock worth $77,453,000 after purchasing an additional 280,145 shares during the last quarter. Epoch Investment Partners Inc. lifted its holdings in Fabrinet by 291.0% in the 1st quarter. Epoch Investment Partners Inc. now owns 275,531 shares of the technology company’s stock worth $52,081,000 after purchasing an additional 205,057 shares during the last quarter. Finally, Kennedy Capital Management LLC acquired a new stake in Fabrinet in the 1st quarter worth approximately $15,637,000. Hedge funds and other institutional investors own 97.38% of the company’s stock.

Insider Activity at Fabrinet

In related news, Director Frank H. Levinson sold 6,000 shares of the company’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $241.71, for a total value of $1,450,260.00. Following the completion of the transaction, the director now directly owns 5,709 shares in the company, valued at $1,379,922.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.51% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. upped their price target on Fabrinet from $210.00 to $212.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. B. Riley cut their price target on Fabrinet from $173.00 to $171.00 and set a “neutral” rating for the company in a report on Tuesday, May 7th. Needham & Company LLC reiterated a “buy” rating and set a $220.00 price target on shares of Fabrinet in a report on Tuesday, May 7th. Finally, Jefferies Financial Group assumed coverage on Fabrinet in a report on Wednesday, June 26th. They set a “hold” rating and a $230.00 price target for the company. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $168.67.

Fabrinet Price Performance

Shares of NYSE FN traded down $0.88 during trading hours on Wednesday, reaching $196.14. The stock had a trading volume of 201,754 shares, compared to its average volume of 435,996. The business’s fifty day moving average is $237.14 and its two-hundred day moving average is $213.54. The company has a market cap of $7.09 billion, a price-to-earnings ratio of 26.16 and a beta of 0.96. Fabrinet has a twelve month low of $114.83 and a twelve month high of $266.39.

Fabrinet (NYSE:FN) last issued its earnings results on Monday, May 6th. The technology company reported $2.21 EPS for the quarter, beating analysts’ consensus estimates of $1.93 by $0.28. The business had revenue of $731.54 million during the quarter, compared to analyst estimates of $718.94 million. Fabrinet had a return on equity of 17.67% and a net margin of 9.90%. Sell-side analysts forecast that Fabrinet will post 7.95 earnings per share for the current fiscal year.

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.