Motley Fool Wealth Management LLC Makes New Investment in Fabrinet (NYSE:FN)

Motley Fool Wealth Management LLC purchased a new position in shares of Fabrinet (NYSE:FN) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 48,103 shares of the technology company’s stock, valued at approximately $9,501,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Banque Cantonale Vaudoise purchased a new position in shares of Fabrinet in the first quarter worth about $29,000. Wayfinding Financial LLC purchased a new position in shares of Fabrinet in the first quarter worth about $30,000. Berbice Capital Management LLC purchased a new position in shares of Fabrinet in the first quarter worth about $30,000. Private Trust Co. NA increased its holdings in shares of Fabrinet by 44.3% in the first quarter. Private Trust Co. NA now owns 166 shares of the technology company’s stock worth $33,000 after buying an additional 51 shares during the period. Finally, SBI Securities Co. Ltd. increased its holdings in shares of Fabrinet by 93.5% in the first quarter. SBI Securities Co. Ltd. now owns 180 shares of the technology company’s stock worth $36,000 after buying an additional 87 shares during the period. Institutional investors own 97.38% of the company’s stock.

Insider Buying and Selling

In other Fabrinet news, COO Harpal Gill sold 18,675 shares of the company’s stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $240.00, for a total transaction of $4,482,000.00. Following the transaction, the chief operating officer owned 18,068 shares in the company, valued at approximately $4,336,320. This represents a 50.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Rollance E. Olson sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $223.98, for a total value of $559,950.00. Following the transaction, the director owned 23,201 shares in the company, valued at $5,196,559.98. This trade represents a 9.73% decrease in their position. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by corporate insiders.

Fabrinet Price Performance

Shares of NYSE:FN opened at $345.12 on Monday. Fabrinet has a 1 year low of $148.55 and a 1 year high of $345.71. The company has a market cap of $12.37 billion, a PE ratio of 38.43 and a beta of 1.02. The stock’s 50-day moving average is $286.97 and its 200 day moving average is $236.26.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Barclays set a $234.00 price objective on Fabrinet and gave the stock an “equal weight” rating in a report on Tuesday, May 6th. Wolfe Research initiated coverage on Fabrinet in a report on Tuesday, July 8th. They issued a “peer perform” rating on the stock. JPMorgan Chase & Co. boosted their price target on Fabrinet from $235.00 to $318.00 and gave the company a “neutral” rating in a report on Thursday, July 17th. Needham & Company LLC restated a “buy” rating and set a $280.00 price target on shares of Fabrinet in a report on Tuesday, May 6th. Finally, Rosenblatt Securities boosted their price target on Fabrinet from $250.00 to $290.00 and gave the company a “buy” rating in a report on Thursday, June 12th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $261.33.

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.