Mercer Global Advisors Inc. ADV Has $448,000 Position in Fabrinet (NYSE:FN)

Mercer Global Advisors Inc. ADV lessened its stake in shares of Fabrinet (NYSE:FN) by 27.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,039 shares of the technology company’s stock after selling 776 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in Fabrinet were worth $448,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FN. Assetmark Inc. lifted its holdings in shares of Fabrinet by 12.0% during the fourth quarter. Assetmark Inc. now owns 484 shares of the technology company’s stock worth $106,000 after buying an additional 52 shares during the last quarter. CIBC Asset Management Inc increased its position in Fabrinet by 5.7% during the fourth quarter. CIBC Asset Management Inc now owns 1,113 shares of the technology company’s stock worth $245,000 after acquiring an additional 60 shares during the period. Nations Financial Group Inc. IA ADV raised its stake in Fabrinet by 2.4% during the 4th quarter. Nations Financial Group Inc. IA ADV now owns 2,941 shares of the technology company’s stock valued at $647,000 after purchasing an additional 68 shares during the last quarter. Janney Montgomery Scott LLC boosted its holdings in Fabrinet by 2.6% in the 4th quarter. Janney Montgomery Scott LLC now owns 3,279 shares of the technology company’s stock valued at $721,000 after purchasing an additional 82 shares during the period. Finally, Transamerica Financial Advisors Inc. boosted its holdings in Fabrinet by 17.2% in the 4th quarter. Transamerica Financial Advisors Inc. now owns 565 shares of the technology company’s stock valued at $125,000 after purchasing an additional 83 shares during the period. Institutional investors and hedge funds own 97.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $280.00 price objective on shares of Fabrinet in a research report on Tuesday, May 6th. Rosenblatt Securities boosted their price target on Fabrinet from $230.00 to $250.00 and gave the company a “buy” rating in a research note on Tuesday, May 6th. JPMorgan Chase & Co. upped their price target on Fabrinet from $220.00 to $235.00 and gave the company a “neutral” rating in a research report on Tuesday, May 6th. Barclays set a $234.00 price objective on Fabrinet and gave the company an “equal weight” rating in a report on Tuesday, May 6th. Finally, B. Riley raised shares of Fabrinet from a “sell” rating to a “neutral” rating and lowered their target price for the stock from $178.00 to $176.00 in a report on Friday, April 4th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $239.29.

Fabrinet Stock Performance

Shares of NYSE:FN opened at $227.59 on Wednesday. The business has a fifty day moving average of $201.01 and a 200-day moving average of $219.56. Fabrinet has a twelve month low of $148.55 and a twelve month high of $281.79. The firm has a market cap of $8.15 billion, a PE ratio of 25.46 and a beta of 0.95.

Fabrinet (NYSE:FN) last posted its quarterly earnings data on Monday, May 5th. The technology company reported $2.52 earnings per share for the quarter, beating the consensus estimate of $2.47 by $0.05. Fabrinet had a net margin of 10.44% and a return on equity of 18.48%. The firm had revenue of $871.80 million during the quarter, compared to analysts’ expectations of $857.12 million. During the same quarter last year, the company posted $2.39 EPS. The company’s quarterly revenue was up 19.2% compared to the same quarter last year. On average, analysts anticipate that Fabrinet will post 9.4 EPS for the current fiscal year.

Insider Transactions at Fabrinet

In related news, Director Rollance E. Olson sold 2,500 shares of Fabrinet stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $223.98, for a total value of $559,950.00. Following the completion of the sale, the director now directly owns 23,201 shares in the company, valued at $5,196,559.98. This trade represents a 9.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.38% of the stock is currently owned by corporate insiders.

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.