Norden Group LLC Acquires Shares of 1,526 Fabrinet (NYSE:FN)

Norden Group LLC acquired a new stake in Fabrinet (NYSE:FN) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,526 shares of the technology company’s stock, valued at approximately $290,000.

Other hedge funds have also modified their holdings of the company. Campbell Newman Asset Management Inc. raised its stake in Fabrinet by 0.4% during the 4th quarter. Campbell Newman Asset Management Inc. now owns 17,895 shares of the technology company’s stock valued at $3,406,000 after acquiring an additional 64 shares during the last quarter. Signaturefd LLC grew its position in Fabrinet by 15.9% in the 3rd quarter. Signaturefd LLC now owns 503 shares of the technology company’s stock valued at $84,000 after buying an additional 69 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in Fabrinet by 3.5% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 2,208 shares of the technology company’s stock valued at $368,000 after buying an additional 75 shares during the period. Sequoia Financial Advisors LLC raised its position in Fabrinet by 3.2% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 2,396 shares of the technology company’s stock worth $399,000 after buying an additional 75 shares during the last quarter. Finally, Mariner LLC lifted its stake in shares of Fabrinet by 2.1% in the 3rd quarter. Mariner LLC now owns 4,103 shares of the technology company’s stock worth $684,000 after acquiring an additional 85 shares during the period. 97.38% of the stock is currently owned by hedge funds and other institutional investors.

Fabrinet Trading Down 0.3 %

NYSE:FN opened at $172.61 on Thursday. Fabrinet has a twelve month low of $90.19 and a twelve month high of $229.02. The company has a market capitalization of $6.27 billion, a P/E ratio of 24.94 and a beta of 1.04. The firm has a 50-day moving average price of $190.77 and a two-hundred day moving average price of $185.11.

Fabrinet (NYSE:FN) last issued its quarterly earnings data on Monday, February 5th. The technology company reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.84 by $0.05. The firm had revenue of $712.69 million during the quarter, compared to the consensus estimate of $699.76 million. Fabrinet had a return on equity of 17.27% and a net margin of 9.35%. On average, equities research analysts predict that Fabrinet will post 7.59 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Needham & Company LLC cut their price target on shares of Fabrinet from $230.00 to $220.00 and set a “buy” rating for the company in a report on Friday, March 22nd. JPMorgan Chase & Co. raised their price target on Fabrinet from $210.00 to $212.00 and gave the company a “neutral” rating in a report on Thursday, April 11th. Rosenblatt Securities reaffirmed a “buy” rating and set a $230.00 price objective on shares of Fabrinet in a report on Tuesday, February 6th. Finally, Northland Securities raised shares of Fabrinet from a “market perform” rating to an “outperform” rating and increased their target price for the company from $200.00 to $220.00 in a report on Thursday, March 21st. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $159.57.

Insider Activity 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 shares were sold at an average price of $205.52, for a total value of $2,055,200.00. Following the completion of 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 Securities & Exchange Commission, which is available at the SEC website. Corporate 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.