Park Avenue Securities LLC Has $732,000 Holdings in Fabrinet (NYSE:FN)

Park Avenue Securities LLC raised its holdings in Fabrinet (NYSE:FN) by 4.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,875 shares of the technology company’s stock after acquiring an additional 156 shares during the period. Park Avenue Securities LLC’s holdings in Fabrinet were worth $732,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the business. Congress Asset Management Co. MA bought a new position in Fabrinet during the 4th quarter worth about $99,045,000. Baillie Gifford & Co. lifted its stake in Fabrinet by 190.0% in the 4th quarter. Baillie Gifford & Co. now owns 563,805 shares of the technology company’s stock valued at $107,309,000 after acquiring an additional 369,389 shares in the last quarter. Wellington Management Group LLP boosted its position in Fabrinet by 21.3% during the 3rd quarter. Wellington Management Group LLP now owns 904,505 shares of the technology company’s stock worth $150,709,000 after acquiring an additional 159,037 shares during the last quarter. TD Asset Management Inc raised its holdings in shares of Fabrinet by 310.5% in the fourth quarter. TD Asset Management Inc now owns 129,616 shares of the technology company’s stock valued at $24,670,000 after purchasing an additional 98,042 shares during the last quarter. Finally, American Century Companies Inc. lifted its position in shares of Fabrinet by 159.3% in the third quarter. American Century Companies Inc. now owns 157,964 shares of the technology company’s stock worth $26,320,000 after purchasing an additional 97,052 shares in the last quarter. 97.38% of the stock is currently owned by institutional investors.

Fabrinet Price Performance

NYSE:FN opened at $246.64 on Friday. The company has a market cap of $8.92 billion, a P/E ratio of 32.75 and a beta of 0.99. The firm’s fifty day moving average price is $221.91 and its two-hundred day moving average price is $204.46. Fabrinet has a one year low of $114.83 and a one year high of $257.04.

Fabrinet (NYSE:FN) last announced its quarterly earnings results on Monday, May 6th. The technology company reported $2.21 EPS for the quarter, beating analysts’ consensus estimates of $1.93 by $0.28. The business had revenue of $731.54 million for the quarter, compared to analyst estimates of $718.94 million. Fabrinet had a net margin of 9.90% and a return on equity of 17.67%. As a group, equities research analysts expect that Fabrinet will post 7.95 earnings per share for the current year.

Analyst Upgrades and Downgrades

FN has been the topic of several recent research reports. Jefferies Financial Group began coverage on shares of Fabrinet in a research note on Wednesday. They issued a “hold” rating and a $230.00 price target on the stock. JPMorgan Chase & Co. increased their price target on Fabrinet from $210.00 to $212.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. Needham & Company LLC reaffirmed a “buy” rating and set a $220.00 price target on shares of Fabrinet in a research report on Tuesday, May 7th. Northland Securities raised Fabrinet from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $200.00 to $220.00 in a report on Thursday, March 21st. Finally, B. Riley lowered their target price 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 analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $168.67.

Insider Activity at Fabrinet

In related news, Director Frank H. Levinson sold 6,000 shares of the company’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $241.71, for a total value of $1,450,260.00. Following the transaction, the director now directly owns 5,709 shares in the company, valued at $1,379,922.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.51% of the stock is currently owned by corporate insiders.

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.