California Public Employees Retirement System Buys 1,805 Shares of Fabrinet (NYSE:FN)

California Public Employees Retirement System lifted its stake in shares of Fabrinet (NYSE:FN) by 3.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 60,275 shares of the technology company’s stock after purchasing an additional 1,805 shares during the quarter. California Public Employees Retirement System owned 0.17% of Fabrinet worth $11,472,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in FN. LRT Capital Management LLC acquired a new position in Fabrinet in the 4th quarter worth about $1,598,000. Calamos Wealth Management LLC acquired a new position in shares of Fabrinet in the fourth quarter valued at approximately $638,000. Knights of Columbus Asset Advisors LLC raised its holdings in Fabrinet by 102.9% in the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 33,336 shares of the technology company’s stock valued at $6,345,000 after buying an additional 16,903 shares during the last quarter. Calamos Advisors LLC acquired a new stake in Fabrinet during the 4th quarter worth approximately $3,659,000. Finally, Strs Ohio grew its holdings in Fabrinet by 85.5% during the 4th quarter. Strs Ohio now owns 10,200 shares of the technology company’s stock worth $1,941,000 after acquiring an additional 4,700 shares during the last quarter. 97.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

FN has been the topic of a number of recent research reports. Northland Securities upgraded shares of Fabrinet from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $200.00 to $220.00 in a report on Thursday, March 21st. Needham & Company LLC reduced their price target on Fabrinet from $230.00 to $220.00 and set a “buy” rating on the stock in a research report on Friday, March 22nd. Rosenblatt Securities restated a “buy” rating and set a $230.00 price objective on shares of Fabrinet in a research report on Tuesday, February 6th. Finally, JPMorgan Chase & Co. lifted their price objective on Fabrinet from $210.00 to $212.00 and gave the stock a “neutral” rating in a research note on Thursday, April 11th. 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 MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $159.57.

Fabrinet Price Performance

NYSE FN opened at $172.61 on Thursday. Fabrinet has a one year low of $90.19 and a one year high of $229.02. The business has a 50 day simple moving average of $190.77 and a 200 day simple moving average of $185.11. The stock has a market capitalization of $6.27 billion, a P/E ratio of 24.94 and a beta of 1.04.

Fabrinet (NYSE:FN) last released its quarterly earnings data 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 company had revenue of $712.69 million during the quarter, compared to analyst estimates of $699.76 million. Fabrinet had a net margin of 9.35% and a return on equity of 17.27%. Equities analysts expect that Fabrinet will post 7.59 earnings per share for the current year.

Insider Transactions at Fabrinet

In related news, Director Rollance E. Olson sold 10,000 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $205.52, for a total value of $2,055,200.00. Following the completion of the sale, the director now directly 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 Securities & Exchange Commission, which is accessible through this link. Insiders own 0.51% of the company’s stock.

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.