Fabrinet (NYSE:FN) Shares Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. increased its position in Fabrinet (NYSE:FN - Free Report) by 18.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 227,300 shares of the technology company's stock after purchasing an additional 35,504 shares during the quarter. Principal Financial Group Inc. owned approximately 0.63% of Fabrinet worth $53,743,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. TD Asset Management Inc boosted its position in 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 in the last quarter. Epoch Investment Partners Inc. raised its stake in shares of Fabrinet by 291.0% during the 1st quarter. Epoch Investment Partners Inc. now owns 275,531 shares of the technology company's stock worth $52,081,000 after acquiring an additional 205,057 shares in the last quarter. Driehaus Capital Management LLC lifted its position in Fabrinet by 183.5% during the second quarter. Driehaus Capital Management LLC now owns 277,978 shares of the technology company's stock valued at $68,046,000 after acquiring an additional 179,943 shares during the last quarter. Clearbridge Investments LLC acquired a new stake in Fabrinet in the second quarter valued at approximately $27,911,000. Finally, Kennedy Capital Management LLC purchased a new position in Fabrinet in the first quarter worth $15,637,000. 97.38% of the stock is currently owned by hedge funds and other institutional investors.

Fabrinet Stock Down 0.1 %

Shares of NYSE FN traded down $0.15 during midday trading on Monday, reaching $270.93. 611,296 shares of the stock were exchanged, compared to its average volume of 492,267. The firm has a market cap of $9.83 billion, a price-to-earnings ratio of 31.81 and a beta of 0.95. The firm has a 50-day simple moving average of $239.49 and a two-hundred day simple moving average of $233.66. Fabrinet has a twelve month low of $159.30 and a twelve month high of $278.38.

Fabrinet (NYSE:FN - Get Free Report) last posted its quarterly earnings data on Monday, November 4th. The technology company reported $2.39 earnings per share for the quarter, topping analysts' consensus estimates of $2.38 by $0.01. Fabrinet had a net margin of 10.28% and a return on equity of 18.08%. The company had revenue of $804.20 million during the quarter, compared to analysts' expectations of $771.24 million. During the same period in the prior year, the business posted $1.78 earnings per share. The firm's revenue for the quarter was up 17.3% on a year-over-year basis. Research analysts expect that Fabrinet will post 9.11 EPS for the current fiscal year.

Insider Transactions at Fabrinet

In other Fabrinet news, CFO Csaba Sverha sold 100 shares of the firm's stock in a transaction on Monday, August 26th. The stock was sold at an average price of $270.00, for a total value of $27,000.00. Following the transaction, the chief financial officer now owns 19,347 shares in the company, valued at approximately $5,223,690. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO Seamus Grady sold 26,650 shares of Fabrinet stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $270.00, for a total transaction of $7,195,500.00. Following the transaction, the chief executive officer now owns 37,643 shares in the company, valued at approximately $10,163,610. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Csaba Sverha sold 100 shares of the company's stock in a transaction on Monday, August 26th. The shares were sold at an average price of $270.00, for a total value of $27,000.00. Following the completion of the sale, the chief financial officer now owns 19,347 shares of the company's stock, valued at approximately $5,223,690. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 44,728 shares of company stock valued at $11,645,062 over the last ninety days. Insiders own 0.38% of the company's stock.

Analyst Ratings Changes

Several analysts have recently commented on FN shares. Rosenblatt Securities increased their price objective on Fabrinet from $260.00 to $280.00 and gave the company a "buy" rating in a report on Tuesday, August 20th. B. Riley dropped their target price on shares of Fabrinet from $196.00 to $194.00 and set a "neutral" rating on the stock in a research report on Tuesday, November 5th. JPMorgan Chase & Co. lifted their price objective on shares of Fabrinet from $240.00 to $285.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 20th. Finally, Needham & Company LLC began coverage on Fabrinet in a report on Tuesday, November 5th. They set a "buy" rating and a $280.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, Fabrinet has a consensus rating of "Moderate Buy" and a consensus price target of $248.17.

About Fabrinet

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.