Fabrinet (NYSE:FN) Shares Acquired by Knights of Columbus Asset Advisors LLC

Knights of Columbus Asset Advisors LLC lifted its position in shares of Fabrinet (NYSE:FN) by 102.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 33,336 shares of the technology company’s stock after purchasing an additional 16,903 shares during the period. Knights of Columbus Asset Advisors LLC owned about 0.09% of Fabrinet worth $6,345,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Calamos Advisors LLC acquired a new stake in shares of Fabrinet during the fourth quarter worth about $3,659,000. Strs Ohio grew its holdings in shares of Fabrinet by 85.5% during the fourth quarter. Strs Ohio now owns 10,200 shares of the technology company’s stock worth $1,941,000 after buying an additional 4,700 shares during the last quarter. Vontobel Holding Ltd. purchased a new position in shares of Fabrinet during the fourth quarter worth about $257,000. Sumitomo Mitsui Trust Holdings Inc. purchased a new position in shares of Fabrinet during the fourth quarter worth about $1,209,000. Finally, Louisiana State Employees Retirement System purchased a new position in shares of Fabrinet during the fourth quarter worth about $3,464,000. Institutional investors and hedge funds own 97.38% of the company’s stock.

Wall Street Analyst Weigh In

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

Fabrinet Price Performance

FN traded down $2.86 during trading on Friday, hitting $162.34. The company’s stock had a trading volume of 228,735 shares, compared to its average volume of 448,919. The firm’s 50 day moving average price is $195.54 and its 200-day moving average price is $185.27. The stock has a market cap of $5.89 billion, a PE ratio of 23.56 and a beta of 1.04. Fabrinet has a twelve month low of $90.19 and a twelve month high of $229.02.

Fabrinet (NYSE:FN) last announced its quarterly earnings data on Monday, February 5th. The technology company reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $699.76 million. Equities analysts anticipate that Fabrinet will post 7.64 earnings per share for the current year.

Insider Activity

In related news, Director Rollance E. Olson sold 10,000 shares of the company’s 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 directly owns 25,981 shares of the company’s stock, valued at approximately $5,339,615.12. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.51% of the company’s stock.

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.