4,190 Shares in Fabrinet (NYSE:FN) Purchased by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. purchased a new position in shares of Fabrinet (NYSE:FN) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 4,190 shares of the technology company’s stock, valued at approximately $1,026,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its position in Fabrinet by 0.9% during the first quarter. Vanguard Group Inc. now owns 4,348,671 shares of the technology company’s stock worth $821,986,000 after acquiring an additional 38,999 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Fabrinet by 1.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 977,459 shares of the technology company’s stock worth $186,051,000 after acquiring an additional 16,551 shares during the last quarter. Congress Asset Management Co. MA lifted its position in Fabrinet by 0.7% during the first quarter. Congress Asset Management Co. MA now owns 524,068 shares of the technology company’s stock worth $99,059,000 after acquiring an additional 3,684 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Fabrinet by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 427,946 shares of the technology company’s stock worth $81,451,000 after acquiring an additional 7,156 shares during the last quarter. Finally, TD Asset Management Inc lifted its position in 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 acquiring an additional 280,145 shares during the last quarter. Institutional investors own 97.38% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Rosenblatt Securities raised their price objective on shares of Fabrinet from $260.00 to $280.00 and gave the stock a “buy” rating in a research report on Tuesday. Needham & Company LLC raised their price objective on shares of Fabrinet from $270.00 to $280.00 and gave the stock a “buy” rating in a research report on Tuesday. JPMorgan Chase & Co. lifted their price target on shares of Fabrinet from $230.00 to $240.00 and gave the company a “neutral” rating in a research report on Monday, August 12th. B. Riley dropped their price target 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. Finally, Jefferies Financial Group started coverage on shares of Fabrinet in a research report on Wednesday, June 26th. They issued a “hold” rating and a $230.00 price target for the company. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Fabrinet has an average rating of “Moderate Buy” and an average target price of $184.00.

Insiders Place Their Bets

In other Fabrinet news, Director Frank H. Levinson sold 6,000 shares of the business’s stock in a transaction 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 sale, the director now owns 5,709 shares of the company’s stock, valued at $1,379,922.39. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.51% of the company’s stock.

Fabrinet Price Performance

Shares of FN opened at $231.46 on Tuesday. Fabrinet has a one year low of $116.63 and a one year high of $266.39. The company has a market cap of $8.37 billion, a P/E ratio of 30.74 and a beta of 0.96. The firm has a 50 day simple moving average of $233.10 and a two-hundred day simple moving average of $213.85.

Fabrinet (NYSE:FN) last announced its quarterly earnings data on Monday, August 19th. The technology company reported $2.41 EPS for the quarter, beating the consensus estimate of $2.06 by $0.35. The business had revenue of $753.26 million during the quarter, compared to the consensus estimate of $732.63 million. Fabrinet had a net margin of 9.90% and a return on equity of 17.67%. The company’s revenue was up 14.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.68 earnings per share. On average, analysts expect that Fabrinet will post 7.95 earnings per share for the current fiscal 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.