Fabrinet (NYSE:FN) Shares Bought by Norden Group LLC

Norden Group LLC increased its stake in Fabrinet (NYSE:FN) by 1,775.2% in the 1st quarter, HoldingsChannel.com reports. The firm owned 28,616 shares of the technology company’s stock after buying an additional 27,090 shares during the quarter. Norden Group LLC’s holdings in Fabrinet were worth $5,409,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Park Place Capital Corp acquired a new position in shares of Fabrinet during the 4th quarter valued at $26,000. Salem Investment Counselors Inc. bought a new stake in Fabrinet in the fourth quarter worth about $29,000. GAMMA Investing LLC acquired a new stake in Fabrinet in the 4th quarter valued at about $34,000. Parallel Advisors LLC lifted its holdings in Fabrinet by 59.7% in the 4th quarter. Parallel Advisors LLC now owns 206 shares of the technology company’s stock valued at $39,000 after acquiring an additional 77 shares during the last quarter. Finally, McGlone Suttner Wealth Management Inc. acquired a new position in shares of Fabrinet in the 4th quarter worth approximately $52,000. Institutional investors and hedge funds own 97.38% of the company’s stock.

Analyst Upgrades and Downgrades

FN has been the subject of several recent research reports. JPMorgan Chase & Co. increased their target price 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. B. Riley dropped their price target on Fabrinet from $173.00 to $171.00 and set a “neutral” rating on the stock in a report on Tuesday, May 7th. Jefferies Financial Group started coverage on Fabrinet in a research note on Wednesday, June 26th. They set a “hold” rating and a $230.00 price objective for the company. Northland Securities raised Fabrinet from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $200.00 to $220.00 in a research report on Thursday, March 21st. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $220.00 target price on shares of Fabrinet in a report on Tuesday, May 7th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Fabrinet currently has an average rating of “Moderate Buy” and a consensus target price of $168.67.

Insider Activity

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

Fabrinet Stock Down 0.3 %

Shares of NYSE:FN opened at $240.96 on Thursday. The company’s fifty day moving average is $228.02 and its two-hundred day moving average is $206.43. The company has a market cap of $8.71 billion, a P/E ratio of 32.00 and a beta of 0.96. Fabrinet has a 12-month low of $114.83 and a 12-month high of $257.04.

Fabrinet (NYSE:FN) last posted its quarterly earnings results on Monday, May 6th. The technology company reported $2.21 earnings per share for the quarter, beating the consensus estimate of $1.93 by $0.28. The firm had revenue of $731.54 million for 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%. Equities research analysts anticipate that Fabrinet will post 7.95 earnings per share for the current year.

About Fabrinet

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.