The Manufacturers Life Insurance Company Has $8.29 Million Stock Position in Fabrinet (NYSE:FN)

The Manufacturers Life Insurance Company grew its position in Fabrinet (NYSE:FN - Free Report) by 150.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 35,047 shares of the technology company's stock after acquiring an additional 21,050 shares during the period. The Manufacturers Life Insurance Company owned 0.10% of Fabrinet worth $8,287,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Bank of Montreal Can increased its holdings in shares of Fabrinet by 61.6% in the third quarter. Bank of Montreal Can now owns 18,425 shares of the technology company's stock valued at $4,418,000 after purchasing an additional 7,025 shares in the last quarter. Truvestments Capital LLC grew its holdings in Fabrinet by 6.5% during the 3rd quarter. Truvestments Capital LLC now owns 2,347 shares of the technology company's stock worth $555,000 after acquiring an additional 143 shares during the period. DRW Securities LLC acquired a new stake in Fabrinet during the 3rd quarter worth $1,628,000. Harvest Fund Management Co. Ltd grew its holdings in Fabrinet by 197.2% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 5,795 shares of the technology company's stock worth $1,371,000 after acquiring an additional 3,845 shares during the period. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Fabrinet during the 3rd quarter worth $2,398,000. Institutional investors own 97.38% of the company's stock.

Fabrinet Stock Up 2.8 %

FN traded up $6.52 during trading on Wednesday, hitting $241.90. The company had a trading volume of 373,509 shares, compared to its average volume of 499,595. The company has a market capitalization of $8.77 billion, a PE ratio of 28.63 and a beta of 0.92. Fabrinet has a one year low of $159.69 and a one year high of $278.38. The firm's 50-day moving average price is $244.42 and its 200 day moving average price is $238.12.

Fabrinet (NYSE:FN - Get Free Report) last issued its quarterly earnings results on Monday, November 4th. The technology company reported $2.39 EPS for the quarter, topping the consensus estimate of $2.38 by $0.01. Fabrinet had a net margin of 10.28% and a return on equity of 18.08%. The firm had revenue of $804.20 million for the quarter, compared to analysts' expectations of $771.24 million. During the same period in the previous year, the firm posted $1.78 EPS. The company's revenue for the quarter was up 17.3% on a year-over-year basis. Sell-side analysts forecast that Fabrinet will post 9.1 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Rosenblatt Securities lifted their target price on shares of Fabrinet from $260.00 to $280.00 and gave the stock a "buy" rating in a report on Tuesday, August 20th. B. Riley lowered shares of Fabrinet from a "neutral" rating to a "sell" rating and decreased their price target for the company from $194.00 to $178.00 in a report on Wednesday, November 20th. Needham & Company LLC started coverage on shares of Fabrinet in a report on Tuesday, November 5th. They issued a "buy" rating and a $280.00 price target for the company. JPMorgan Chase & Co. boosted their price target on shares of Fabrinet from $240.00 to $285.00 and gave the company a "neutral" rating in a report on Tuesday, August 20th. Finally, Barclays started coverage on shares of Fabrinet in a report on Thursday, November 14th. They issued an "equal weight" rating and a $292.00 price target for the company. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $252.14.

Insiders Place Their Bets

In other news, EVP Edward T. Archer sold 8,690 shares of the company's stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $220.26, for a total value of $1,914,059.40. Following the sale, the executive vice president now directly owns 8,333 shares of the company's stock, valued at approximately $1,835,426.58. This represents a 51.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.38% 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.