Park Avenue Securities LLC Has $1.60 Million Stock Holdings in Fabrinet (NYSE:FN)

Park Avenue Securities LLC increased its stake in shares of Fabrinet (NYSE:FN) by 68.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,533 shares of the technology company’s stock after purchasing an additional 2,658 shares during the quarter. Park Avenue Securities LLC’s holdings in Fabrinet were worth $1,599,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in FN. First Eagle Investment Management LLC increased its position in Fabrinet by 0.8% in the 4th quarter. First Eagle Investment Management LLC now owns 7,508 shares of the technology company’s stock valued at $1,429,000 after acquiring an additional 60 shares during the period. Parallel Advisors LLC increased its position in Fabrinet by 59.7% in the 4th quarter. Parallel Advisors LLC now owns 206 shares of the technology company’s stock valued at $39,000 after acquiring an additional 77 shares during the period. Vanguard Personalized Indexing Management LLC increased its position in Fabrinet by 1.6% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 6,117 shares of the technology company’s stock valued at $1,164,000 after acquiring an additional 96 shares during the period. New York State Teachers Retirement System boosted its stake in shares of Fabrinet by 0.3% in the 1st quarter. New York State Teachers Retirement System now owns 29,950 shares of the technology company’s stock valued at $5,661,000 after purchasing an additional 100 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of Fabrinet by 60.6% in the 1st quarter. GAMMA Investing LLC now owns 289 shares of the technology company’s stock valued at $55,000 after purchasing an additional 109 shares during the last quarter. 97.38% of the stock is currently owned by institutional investors and hedge funds.

Fabrinet Trading Up 4.6 %

NYSE FN traded up $8.85 on Thursday, hitting $202.69. 50,768 shares of the company were exchanged, compared to its average volume of 434,389. The company has a market cap of $7.33 billion, a PE ratio of 25.74 and a beta of 0.96. Fabrinet has a 12 month low of $114.83 and a 12 month high of $266.39. The stock has a fifty day moving average of $236.20 and a 200-day moving average of $213.40.

Fabrinet (NYSE:FN) last issued its earnings results on Monday, May 6th. The technology company reported $2.21 earnings per share (EPS) for the quarter, topping the consensus estimate 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%. On average, analysts expect that Fabrinet will post 7.95 earnings per share for the current year.

Insiders Place Their Bets

In other Fabrinet news, Director Frank H. Levinson sold 6,000 shares of the company’s stock in a transaction 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 transaction, the director now owns 5,709 shares in the company, valued at $1,379,922.39. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.51% of the company’s stock.

Wall Street Analyst Weigh In

FN has been the topic of a number of analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $220.00 price objective on shares of Fabrinet in a research note on Tuesday, May 7th. Jefferies Financial Group initiated coverage on shares of Fabrinet in a research note on Wednesday, June 26th. They issued a “hold” rating and a $230.00 price objective on the stock. B. Riley reduced 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, May 7th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Fabrinet from $210.00 to $212.00 and gave the company a “neutral” rating in a research note on Thursday, April 11th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Fabrinet presently has an average rating of “Moderate Buy” and a consensus target price of $168.67.

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.