Diversified Trust Co Raises Position in Fabrinet (NYSE:FN)

Diversified Trust Co lifted its stake in Fabrinet (NYSE:FN) by 4.3% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 9,006 shares of the technology company’s stock after purchasing an additional 371 shares during the quarter. Diversified Trust Co’s holdings in Fabrinet were worth $1,702,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Fabrinet by 0.4% in the third quarter. Vanguard Group Inc. now owns 4,333,317 shares of the technology company’s stock valued at $722,017,000 after acquiring an additional 16,228 shares during the period. Advisors Asset Management Inc. lifted its position in shares of Fabrinet by 3.0% during the third quarter. Advisors Asset Management Inc. now owns 7,265 shares of the technology company’s stock worth $1,210,000 after purchasing an additional 211 shares during the last quarter. Evoke Wealth LLC purchased a new position in Fabrinet in the 4th quarter worth about $3,135,000. Redwood Investments LLC bought a new stake in Fabrinet during the 4th quarter valued at about $3,478,000. Finally, Wellington Management Group LLP increased its position in shares of Fabrinet by 21.3% during the third quarter. Wellington Management Group LLP now owns 904,505 shares of the technology company’s stock worth $150,709,000 after acquiring an additional 159,037 shares during the period. Institutional investors own 97.38% of the company’s stock.

Fabrinet Price Performance

FN traded down $4.70 on Monday, reaching $240.09. 127,237 shares of the stock were exchanged, compared to its average volume of 449,604. The company’s 50-day moving average price is $223.56 and its 200 day moving average price is $205.41. The firm has a market capitalization of $8.68 billion, a PE ratio of 32.51 and a beta of 0.96. Fabrinet has a fifty-two week low of $114.83 and a fifty-two week high of $257.04.

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

Insider Buying and Selling at Fabrinet

In other news, Director Frank H. Levinson sold 6,000 shares of the company’s stock in a transaction dated 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 in the company, valued at $1,379,922.39. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.51% of the company’s stock.

Analysts Set New Price Targets

FN has been the topic of a number of recent research reports. Jefferies Financial Group assumed 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. JPMorgan Chase & Co. increased their price objective on shares of Fabrinet from $210.00 to $212.00 and gave the company a “neutral” rating in a research note on Thursday, April 11th. Needham & Company LLC reissued a “buy” rating and issued a $220.00 price objective on shares of Fabrinet in a research note on Tuesday, May 7th. B. Riley dropped their target price on Fabrinet from $173.00 to $171.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 7th. Finally, Northland Securities raised Fabrinet from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $200.00 to $220.00 in a research report on Thursday, March 21st. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $168.67.

Fabrinet 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.