Stevens Capital Management LP Invests $203,000 in Fabrinet (NYSE:FN)

Stevens Capital Management LP bought a new position in shares of Fabrinet (NYSE:FN) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,068 shares of the technology company’s stock, valued at approximately $203,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Atria Wealth Solutions Inc. acquired a new position in Fabrinet in the fourth quarter valued at approximately $476,000. Harvest Fund Management Co. Ltd purchased a new position in shares of Fabrinet during the 4th quarter valued at approximately $71,000. GAMMA Investing LLC acquired a new position in shares of Fabrinet in the 4th quarter valued at $34,000. California Public Employees Retirement System boosted its holdings in Fabrinet by 3.1% during the fourth quarter. California Public Employees Retirement System now owns 60,275 shares of the technology company’s stock worth $11,472,000 after buying an additional 1,805 shares in the last quarter. Finally, LRT Capital Management LLC acquired a new stake in Fabrinet during the fourth quarter valued at $1,598,000. 97.38% of the stock is currently owned by institutional investors and hedge funds.

Fabrinet Trading Up 1.9 %

Shares of NYSE FN traded up $3.25 during mid-day trading on Friday, reaching $175.45. The company had a trading volume of 218,050 shares, compared to its average volume of 446,401. Fabrinet has a 52-week low of $90.19 and a 52-week high of $229.02. The stock has a market cap of $6.37 billion, a P/E ratio of 24.88 and a beta of 1.04. The firm has a 50 day simple moving average of $192.13 and a two-hundred day simple moving average of $185.14.

Fabrinet (NYSE:FN) last released its quarterly earnings results on Monday, February 5th. The technology company reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.84 by $0.05. Fabrinet had a return on equity of 17.27% and a net margin of 9.35%. The firm had revenue of $712.69 million for the quarter, compared to the consensus estimate of $699.76 million. On average, equities analysts expect that Fabrinet will post 7.59 EPS for the current year.

Insider Activity at Fabrinet

In other news, Director Rollance E. Olson sold 10,000 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $205.52, for a total transaction of $2,055,200.00. Following the completion of the sale, the director now owns 25,981 shares in the company, valued at $5,339,615.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.51% of the stock is owned by insiders.

Analysts Set New Price Targets

FN has been the subject of a number of analyst reports. JPMorgan Chase & Co. upped their price objective on shares of Fabrinet from $210.00 to $212.00 and gave the stock a “neutral” rating in a research report on Thursday, April 11th. Rosenblatt Securities reiterated a “buy” rating and set a $230.00 price target on shares of Fabrinet in a research report on Tuesday, February 6th. Needham & Company LLC cut their price objective on Fabrinet from $230.00 to $220.00 and set a “buy” rating for the company in a research report on Friday, March 22nd. Finally, Northland Securities raised shares of 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. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $159.57.

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.