Fabrinet (NYSE:FN) Shares Bought by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale grew its holdings in shares of Fabrinet (NYSE:FN) by 27.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 79,088 shares of the technology company’s stock after buying an additional 17,000 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Fabrinet were worth $15,036,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. Congress Asset Management Co. MA purchased a new stake in Fabrinet during the fourth quarter worth approximately $99,045,000. Baillie Gifford & Co. raised its stake in shares of Fabrinet by 190.0% during the fourth 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 shares of Fabrinet by 216.1% during the first 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 period. Epoch Investment Partners Inc. grew its position in Fabrinet by 291.0% in the 1st quarter. Epoch Investment Partners Inc. now owns 275,531 shares of the technology company’s stock valued at $52,081,000 after buying an additional 205,057 shares during the last quarter. Finally, Kennedy Capital Management LLC acquired a new position in Fabrinet in the 1st quarter valued at $15,637,000. 97.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Fabrinet Stock Down 5.8 %

NYSE FN traded down $12.41 during mid-day trading on Friday, hitting $202.56. The stock had a trading volume of 517,569 shares, compared to its average volume of 361,072. The company has a 50 day simple moving average of $239.09 and a 200 day simple moving average of $213.18. The company has a market cap of $7.32 billion, a price-to-earnings ratio of 26.90 and a beta of 0.96. Fabrinet has a 52-week low of $114.83 and a 52-week high of $266.39.

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

Insiders Place Their Bets

In related news, Director Frank H. Levinson sold 6,000 shares of the company’s stock in a transaction that occurred 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 sale, the director now owns 5,709 shares of the company’s stock, valued at approximately $1,379,922.39. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.51% of the stock is currently owned by company 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.