Knights of Columbus Asset Advisors LLC Buys 16,903 Shares of Fabrinet (NYSE:FN)

Knights of Columbus Asset Advisors LLC boosted its holdings in Fabrinet (NYSE:FN) by 102.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 33,336 shares of the technology company’s stock after acquiring an additional 16,903 shares during the quarter. Knights of Columbus Asset Advisors LLC’s holdings in Fabrinet were worth $6,345,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in FN. Capital International Investors increased its stake in Fabrinet by 108.1% in the first quarter. Capital International Investors now owns 1,529,864 shares of the technology company’s stock valued at $160,835,000 after acquiring an additional 794,833 shares during the period. Envestnet Asset Management Inc. increased its stake in Fabrinet by 1,165.6% in the first quarter. Envestnet Asset Management Inc. now owns 625,576 shares of the technology company’s stock valued at $6,388,000 after acquiring an additional 576,147 shares during the period. Baillie Gifford & Co. increased its stake in Fabrinet by 190.0% in the fourth quarter. Baillie Gifford & Co. now owns 563,805 shares of the technology company’s stock valued at $107,309,000 after acquiring an additional 369,389 shares during the period. Alyeska Investment Group L.P. bought a new stake in Fabrinet in the first quarter valued at about $33,032,000. Finally, Wellington Management Group LLP increased its stake in Fabrinet by 90.6% in the first quarter. Wellington Management Group LLP now owns 413,227 shares of the technology company’s stock valued at $43,443,000 after acquiring an additional 196,477 shares during the period. Institutional investors own 97.38% of the company’s stock.

Fabrinet Price Performance

Shares of FN stock traded down $2.86 during trading hours on Friday, reaching $162.34. 228,735 shares of the company were exchanged, compared to its average volume of 448,919. Fabrinet has a fifty-two week low of $90.19 and a fifty-two week high of $229.02. The stock’s fifty day moving average is $195.54 and its two-hundred day moving average is $185.27. The company has a market cap of $5.89 billion, a price-to-earnings ratio of 23.56 and a beta of 1.04.

Fabrinet (NYSE:FN) last announced its earnings results on Monday, February 5th. The technology company reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.84 by $0.05. Fabrinet had a net margin of 9.35% and a return on equity of 17.27%. The company had revenue of $712.69 million for the quarter, compared to analyst estimates of $699.76 million. On average, research analysts anticipate that Fabrinet will post 7.64 earnings per share for the current year.

Insider Buying and Selling at Fabrinet

In other news, Director Rollance E. Olson sold 10,000 shares of the stock in a transaction on Monday, February 12th. The shares were sold at an average price of $205.52, for a total transaction of $2,055,200.00. Following the completion of the sale, the director now owns 25,981 shares of the company’s stock, valued at $5,339,615.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.51% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on FN shares. Northland Securities upgraded shares of Fabrinet from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $200.00 to $220.00 in a research report on Thursday, March 21st. Rosenblatt Securities restated a “buy” rating and issued a $230.00 price target on shares of Fabrinet in a research report on Tuesday, February 6th. Needham & Company LLC reduced their price target on shares of Fabrinet from $230.00 to $220.00 and set a “buy” rating on the stock in a research report on Friday, March 22nd. Finally, JPMorgan Chase & Co. boosted their price target on shares of Fabrinet from $210.00 to $212.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $159.57.

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.