Atlas Capital Advisors LLC Acquires 1,167 Shares of Fabrinet (NYSE:FN)

Atlas Capital Advisors LLC raised its position in shares of Fabrinet (NYSE:FN) by 197.5% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,758 shares of the technology company’s stock after buying an additional 1,167 shares during the period. Atlas Capital Advisors LLC’s holdings in Fabrinet were worth $332,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Janney Montgomery Scott LLC bought a new stake in shares of Fabrinet during the 3rd quarter valued at about $241,000. Envestnet Portfolio Solutions Inc. bought a new position in shares of Fabrinet during the third quarter valued at approximately $242,000. Envestnet Asset Management Inc. lifted its holdings in shares of Fabrinet by 25.3% during the third quarter. Envestnet Asset Management Inc. now owns 41,073 shares of the technology company’s stock valued at $6,844,000 after purchasing an additional 8,302 shares during the last quarter. Invesco Ltd. grew its stake in shares of Fabrinet by 55.5% in the 3rd quarter. Invesco Ltd. now owns 306,840 shares of the technology company’s stock worth $51,126,000 after buying an additional 109,469 shares during the last quarter. Finally, Mariner LLC increased its holdings in shares of Fabrinet by 2.1% during the third quarter. Mariner LLC now owns 4,103 shares of the technology company’s stock valued at $684,000 after acquiring an additional 85 shares in the last quarter. Institutional investors own 97.38% of the company’s stock.

Fabrinet Trading Up 1.4 %

Shares of NYSE FN opened at $246.64 on Friday. Fabrinet has a 12-month low of $114.83 and a 12-month high of $257.04. The firm has a market capitalization of $8.92 billion, a price-to-earnings ratio of 32.75 and a beta of 0.99. The firm has a 50 day moving average of $221.91 and a 200 day moving average of $204.46.

Fabrinet (NYSE:FN) last posted its quarterly earnings data on Monday, May 6th. The technology company reported $2.21 EPS for the quarter, topping the consensus estimate of $1.93 by $0.28. The firm had revenue of $731.54 million during the quarter, compared to analyst estimates of $718.94 million. Fabrinet had a return on equity of 17.67% and a net margin of 9.90%. Sell-side analysts predict that Fabrinet will post 7.95 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently commented on FN. Jefferies Financial Group initiated coverage on shares of Fabrinet in a research report on Wednesday. They set a “hold” rating and a $230.00 price objective on the stock. Northland Securities upgraded Fabrinet from a “market perform” rating to an “outperform” rating and increased their target price for the company from $200.00 to $220.00 in a research note on Thursday, March 21st. Needham & Company LLC restated a “buy” rating and issued a $220.00 price target on shares of Fabrinet in a research note on Tuesday, May 7th. JPMorgan Chase & Co. lifted their price objective on Fabrinet from $210.00 to $212.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. Finally, B. Riley dropped their price target on shares of Fabrinet from $173.00 to $171.00 and set a “neutral” rating on the stock in a report on Tuesday, May 7th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Fabrinet has a consensus rating of “Moderate Buy” and an average price target of $168.67.

Insider Activity

In other Fabrinet news, Director Frank H. Levinson sold 6,000 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $241.71, for a total transaction of $1,450,260.00. Following the sale, the director now owns 5,709 shares in the company, valued at approximately $1,379,922.39. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.51% of the company’s stock.

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.