DekaBank Deutsche Girozentrale Has $15.04 Million Stock Position in Fabrinet (NYSE:FN)

DekaBank Deutsche Girozentrale raised its holdings in shares of Fabrinet (NYSE:FN) by 27.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 79,088 shares of the technology company’s stock after buying an additional 17,000 shares during the quarter. DekaBank Deutsche Girozentrale owned about 0.22% of Fabrinet worth $15,036,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Park Place Capital Corp acquired a new position in Fabrinet in the 4th quarter valued at approximately $26,000. GAMMA Investing LLC bought a new position in Fabrinet in the 4th quarter valued at $34,000. Parallel Advisors LLC lifted its position in Fabrinet by 59.7% during the 4th quarter. Parallel Advisors LLC now owns 206 shares of the technology company’s stock worth $39,000 after buying an additional 77 shares in the last quarter. UMB Bank n.a. bought a new position in shares of Fabrinet in the first quarter worth about $57,000. Finally, Headlands Technologies LLC acquired a new position in shares of Fabrinet during the first quarter worth approximately $63,000. 97.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. B. Riley reduced their price objective on Fabrinet from $173.00 to $171.00 and set a “neutral” rating on the stock in a report on Tuesday, May 7th. Needham & Company LLC reiterated a “buy” rating and issued a $220.00 price target on shares of Fabrinet in a research report on Tuesday, May 7th. Jefferies Financial Group started coverage on shares of Fabrinet in a research note on Wednesday, June 26th. They set a “hold” rating and a $230.00 price objective on the stock. Finally, JPMorgan Chase & Co. raised their price objective on Fabrinet from $210.00 to $212.00 and gave the stock a “neutral” rating in a research note on Thursday, April 11th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $168.67.

Insider Activity at Fabrinet

In other news, Director Frank H. Levinson sold 6,000 shares of the business’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 completion of the sale, the director now owns 5,709 shares of the company’s stock, valued at $1,379,922.39. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.51% of the stock is currently owned by company insiders.

Fabrinet Stock Performance

Fabrinet stock traded down $12.41 during mid-day trading on Friday, reaching $202.56. The company’s stock had a trading volume of 517,569 shares, compared to its average volume of 361,072. Fabrinet has a 12 month low of $114.83 and a 12 month high of $266.39. The business’s 50 day simple moving average is $239.09 and its 200 day simple moving average is $213.18. The company has a market capitalization of $7.32 billion, a price-to-earnings ratio of 26.90 and a beta of 0.96.

Fabrinet (NYSE:FN) last released its earnings results on Monday, May 6th. The technology company reported $2.21 earnings per share (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 the consensus estimate of $718.94 million. Fabrinet had a return on equity of 17.67% and a net margin of 9.90%. As a group, sell-side analysts expect that Fabrinet will post 7.95 EPS for the current year.

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.