1,913 Shares in Fabrinet (NYSE:FN) Purchased by Truvestments Capital LLC

Truvestments Capital LLC bought a new stake in shares of Fabrinet (NYSE:FN) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund bought 1,913 shares of the technology company’s stock, valued at approximately $362,000.

Other hedge funds have also recently bought and sold shares of the company. First Eagle Investment Management LLC increased its stake in Fabrinet by 0.8% during the fourth quarter. First Eagle Investment Management LLC now owns 7,508 shares of the technology company’s stock valued at $1,429,000 after acquiring an additional 60 shares during the period. Campbell Newman Asset Management Inc. boosted its stake in Fabrinet by 0.4% in the fourth quarter. Campbell Newman Asset Management Inc. now owns 17,895 shares of the technology company’s stock valued at $3,406,000 after acquiring an additional 64 shares during the last quarter. Parallel Advisors LLC boosted its position in shares of Fabrinet by 59.7% in the 4th quarter. Parallel Advisors LLC now owns 206 shares of the technology company’s stock worth $39,000 after purchasing an additional 77 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its position in shares of Fabrinet by 1.6% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 6,117 shares of the technology company’s stock worth $1,164,000 after buying an additional 96 shares during the period. Finally, New York State Teachers Retirement System increased its stake in Fabrinet by 0.3% in the first quarter. New York State Teachers Retirement System now owns 29,950 shares of the technology company’s stock valued at $5,661,000 after purchasing an additional 100 shares in the last quarter. 97.38% of the stock is owned by hedge funds and other institutional investors.

Fabrinet Price Performance

Shares of NYSE FN traded up $4.50 during mid-day trading on Friday, reaching $220.94. 295,516 shares of the company’s stock traded hands, compared to its average volume of 353,971. Fabrinet has a 1-year low of $114.83 and a 1-year high of $266.39. The stock has a market cap of $7.99 billion, a P/E ratio of 29.34 and a beta of 0.96. The business has a 50-day simple moving average of $241.42 and a 200 day simple moving average of $212.44.

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

Insider Buying and Selling

In other Fabrinet news, Director Frank H. Levinson sold 6,000 shares of the business’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $241.71, for a total value of $1,450,260.00. Following the transaction, the director now owns 5,709 shares in the company, valued at $1,379,922.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.51% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on FN. Jefferies Financial Group started coverage on Fabrinet in a research report on Wednesday, June 26th. They set a “hold” rating and a $230.00 price target on the stock. B. Riley lowered 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. increased their target price on Fabrinet from $210.00 to $212.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $220.00 price target on shares of Fabrinet in a research note on Tuesday, May 7th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $168.67.

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.