Vontobel Holding Ltd. Takes $257,000 Position in Fabrinet (NYSE:FN)

Vontobel Holding Ltd. bought a new stake in shares of Fabrinet (NYSE:FN) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,350 shares of the technology company’s stock, valued at approximately $257,000.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Fabrinet by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 4,333,317 shares of the technology company’s stock valued at $722,017,000 after purchasing an additional 16,228 shares in the last quarter. Advisors Asset Management Inc. grew its stake in Fabrinet by 3.0% in the 3rd quarter. Advisors Asset Management Inc. now owns 7,265 shares of the technology company’s stock valued at $1,210,000 after acquiring an additional 211 shares during the period. Redwood Investments LLC acquired a new stake in Fabrinet in the 4th quarter valued at $3,478,000. Wellington Management Group LLP grew its stake in Fabrinet by 21.3% in the 3rd quarter. Wellington Management Group LLP now owns 904,505 shares of the technology company’s stock valued at $150,709,000 after acquiring an additional 159,037 shares during the period. Finally, Sei Investments Co. grew its stake in Fabrinet by 16.8% in the 3rd quarter. Sei Investments Co. now owns 90,345 shares of the technology company’s stock valued at $15,053,000 after acquiring an additional 13,022 shares during the period. 97.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

FN has been the topic of a number of research analyst reports. Needham & Company LLC dropped their price target on shares of Fabrinet from $230.00 to $220.00 and set a “buy” rating on the stock in a research note on Friday, March 22nd. Northland Securities raised shares of Fabrinet from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $200.00 to $220.00 in a research note on Thursday, March 21st. JPMorgan Chase & Co. lifted their price target 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. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $230.00 target price on shares of Fabrinet in a research note on Tuesday, February 6th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $159.57.

Insider Activity

In other news, Director Rollance E. Olson sold 10,000 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $205.52, for a total transaction of $2,055,200.00. Following the transaction, the director now owns 25,981 shares of the company’s stock, valued at approximately $5,339,615.12. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.51% of the company’s stock.

Fabrinet Stock Up 2.8 %

Shares of FN opened at $168.74 on Wednesday. Fabrinet has a 52-week low of $90.19 and a 52-week high of $229.02. The firm’s fifty day moving average is $193.37 and its two-hundred day moving average is $185.34. The stock has a market cap of $6.13 billion, a PE ratio of 24.38 and a beta of 1.04.

Fabrinet (NYSE:FN) last announced its quarterly earnings results on Monday, February 5th. The technology company reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.84 by $0.05. The firm had revenue of $712.69 million for the quarter, compared to analysts’ expectations of $699.76 million. Fabrinet had a net margin of 9.35% and a return on equity of 17.27%. As a group, research analysts anticipate that Fabrinet will post 7.59 earnings per share for the current year.

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.