New York Life Investment Management LLC Invests $783,000 in Fabrinet (NYSE:FN)

New York Life Investment Management LLC bought a new stake in Fabrinet (NYSE:FN) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 4,115 shares of the technology company’s stock, valued at approximately $783,000.

A number of other institutional investors have also bought and sold shares of FN. Vanguard Group Inc. increased its stake in shares of Fabrinet by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 4,333,317 shares of the technology company’s stock valued at $722,017,000 after acquiring an additional 16,228 shares in the last quarter. FMR LLC grew its holdings in Fabrinet by 9.7% in the third quarter. FMR LLC now owns 1,987,726 shares of the technology company’s stock worth $331,195,000 after purchasing an additional 174,945 shares during the period. Wellington Management Group LLP increased its stake in Fabrinet by 21.3% in the third quarter. Wellington Management Group LLP now owns 904,505 shares of the technology company’s stock valued at $150,709,000 after purchasing an additional 159,037 shares in the last quarter. Baillie Gifford & Co. raised its holdings in shares of Fabrinet by 190.0% during the fourth quarter. Baillie Gifford & Co. now owns 563,805 shares of the technology company’s stock valued at $107,309,000 after purchasing an additional 369,389 shares during the period. Finally, Vaughan Nelson Investment Management L.P. boosted its position in shares of Fabrinet by 0.5% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 496,076 shares of the technology company’s stock worth $82,656,000 after purchasing an additional 2,666 shares in the last quarter. Institutional investors own 97.38% of the company’s stock.

Fabrinet Trading Up 1.0 %

Shares of NYSE:FN opened at $211.44 on Thursday. The stock has a market cap of $7.68 billion, a PE ratio of 30.55 and a beta of 1.04. The stock’s fifty day simple moving average is $189.91 and its two-hundred day simple moving average is $185.95. Fabrinet has a 1-year low of $90.19 and a 1-year high of $229.02.

Fabrinet (NYSE:FN) last released its quarterly earnings results on Monday, February 5th. The technology company reported $1.89 earnings per share for the quarter, beating 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, sell-side analysts forecast that Fabrinet will post 7.59 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently commented on FN shares. Rosenblatt Securities reaffirmed a “buy” rating and issued a $230.00 target price on shares of Fabrinet in a research report on Tuesday, February 6th. JPMorgan Chase & Co. boosted 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. Needham & Company LLC reiterated a “buy” rating and issued a $220.00 target price on shares of Fabrinet in a report on Tuesday. 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 note on Thursday, March 21st. Finally, B. Riley dropped their price objective on shares of Fabrinet from $173.00 to $171.00 and set a “neutral” rating on the stock in a research note on Tuesday. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $161.00.

Insiders Place Their Bets

In other Fabrinet 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 value of $2,055,200.00. Following the transaction, the director now owns 25,981 shares of the company’s stock, valued at $5,339,615.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 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.