Fabrinet (NYSE:FN) Shares Purchased by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. grew its position in Fabrinet (NYSE:FN - Free Report) by 44.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,433 shares of the technology company's stock after buying an additional 3,227 shares during the quarter. Harbor Capital Advisors Inc.'s holdings in Fabrinet were worth $2,467,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of FN. TD Asset Management Inc increased its position in shares of Fabrinet by 216.1% during the first quarter. TD Asset Management Inc now owns 409,761 shares of the technology company's stock valued at $77,453,000 after purchasing an additional 280,145 shares during the period. Epoch Investment Partners Inc. raised its holdings in Fabrinet by 291.0% in the first quarter. Epoch Investment Partners Inc. now owns 275,531 shares of the technology company's stock worth $52,081,000 after purchasing an additional 205,057 shares during the period. Driehaus Capital Management LLC grew its position in shares of Fabrinet by 183.5% in the 2nd quarter. Driehaus Capital Management LLC now owns 277,978 shares of the technology company's stock valued at $68,046,000 after purchasing an additional 179,943 shares during the period. Clearbridge Investments LLC bought a new position in Fabrinet during the 2nd quarter worth about $27,911,000. Finally, Kennedy Capital Management LLC bought a new stake in shares of Fabrinet in the first quarter worth $15,637,000. Institutional investors and hedge funds own 97.38% of the company's stock.

Fabrinet Stock Down 3.8 %

FN traded down $9.06 during midday trading on Tuesday, reaching $230.55. The company had a trading volume of 1,958,328 shares, compared to its average volume of 488,446. Fabrinet has a 1 year low of $157.55 and a 1 year high of $278.38. The business has a 50-day moving average of $238.50 and a two-hundred day moving average of $231.70. The company has a market cap of $8.36 billion, a P/E ratio of 28.46 and a beta of 0.95.

Fabrinet (NYSE:FN - Get Free Report) last issued its earnings results on Monday, August 19th. The technology company reported $2.41 earnings per share for the quarter, beating analysts' consensus estimates of $2.06 by $0.35. Fabrinet had a return on equity of 18.10% and a net margin of 10.27%. The business had revenue of $753.26 million during the quarter, compared to analyst estimates of $732.63 million. During the same period in the previous year, the company posted $1.68 EPS. Fabrinet's revenue was up 14.8% on a year-over-year basis. On average, equities research analysts predict that Fabrinet will post 9.11 EPS for the current year.

Insider Activity at Fabrinet

In related news, EVP Edward T. Archer sold 8,690 shares of Fabrinet stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now owns 8,333 shares in the company, valued at $1,835,426.58. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Edward T. Archer sold 8,690 shares of the firm's stock in a transaction on 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 completion of the sale, the executive vice president now owns 8,333 shares in the company, valued at approximately $1,835,426.58. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Csaba Sverha sold 9,288 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $270.08, for a total value of $2,508,503.04. Following the completion of the transaction, the chief financial officer now owns 19,768 shares of the company's stock, valued at $5,338,941.44. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 44,728 shares of company stock worth $11,645,062. Insiders own 0.38% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on FN shares. Needham & Company LLC assumed coverage on shares of Fabrinet in a research report on Tuesday. They issued a "buy" rating and a $280.00 price target for the company. JPMorgan Chase & Co. lifted their target price on Fabrinet from $240.00 to $285.00 and gave the stock a "neutral" rating in a report on Tuesday, August 20th. B. Riley cut their target price on Fabrinet from $196.00 to $194.00 and set a "neutral" rating on the stock in a report on Tuesday. Finally, Rosenblatt Securities boosted their price target on shares of Fabrinet from $260.00 to $280.00 and gave the stock a "buy" rating in a report on Tuesday, August 20th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $248.17.

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.