Sumitomo Mitsui Trust Holdings Inc. Takes $1.21 Million Position in Fabrinet (NYSE:FN)

Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in Fabrinet (NYSE:FN) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 6,353 shares of the technology company’s stock, valued at approximately $1,209,000.

Other institutional investors have also modified their holdings of the company. Park Place Capital Corp bought a new stake in shares of Fabrinet during the 4th quarter worth approximately $26,000. Salem Investment Counselors Inc. bought a new stake in shares of Fabrinet during the 4th quarter worth approximately $29,000. McGlone Suttner Wealth Management Inc. bought a new stake in shares of Fabrinet during the 4th quarter worth approximately $52,000. Orion Capital Management LLC bought a new stake in shares of Fabrinet during the 3rd quarter worth approximately $47,000. Finally, Signaturefd LLC lifted its stake in shares of Fabrinet by 15.9% during the 3rd quarter. Signaturefd LLC now owns 503 shares of the technology company’s stock worth $84,000 after acquiring an additional 69 shares during the last quarter. 97.38% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Rollance E. Olson sold 10,000 shares of the business’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $205.52, for a total transaction of $2,055,200.00. Following the transaction, the director now directly owns 25,981 shares in the company, valued at approximately $5,339,615.12. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.51% of the company’s stock.

Fabrinet Trading Up 1.3 %

Shares of NYSE:FN opened at $172.20 on Friday. Fabrinet has a 12-month low of $90.19 and a 12-month high of $229.02. The business’s fifty day simple moving average is $192.13 and its 200-day simple moving average is $185.14. The company has a market capitalization of $6.25 billion, a PE ratio of 24.88 and a beta of 1.04.

Fabrinet (NYSE:FN) last announced its quarterly earnings results on Monday, February 5th. The technology company reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.84 by $0.05. Fabrinet had a return on equity of 17.27% and a net margin of 9.35%. The business had revenue of $712.69 million for the quarter, compared to the consensus estimate of $699.76 million. Research analysts predict that Fabrinet will post 7.59 EPS for the current year.

Wall Street Analysts Forecast Growth

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

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.