Ronald Blue Trust Inc. increased its holdings in Fabrinet (NYSE:FN – Get Rating) by 135.3% in Q4, according to a recent Securities and Exchange Commission filing. Harbour Capital Advisors LLC and TIAA FSB also acquired new positions in Fabrinet. The SEC filing also disclosed that a director of Fabrinet, Rollance E. Olson, sold 5,000 shares of the company’s stock in February 2017. Fabrinet’s insiders own 0.50% of the company’s stock. The article also covers the stock’s price performance and profile. Fabrinet provides optical packaging and electronic manufacturing services to original equipment manufacturers.
Ronald Blue Trust Inc. Increases Stake in Fabrinet (NYSE:FN)
Ronald Blue Trust Inc. recently reported a 135.3% increase in its holdings of Fabrinet (NYSE:FN – Get Rating) in the fourth quarter. According to the Securities and Exchange Commission filing, several other hedge funds have also purchased and sold FN shares.
New positions in Fabrinet were acquired by Harbour Capital Advisors LLC and TIAA FSB, worth $232,000 and $221,000, respectively. Bank of New York Mellon Corp increased its holdings in the company by 4.2% during the third quarter, and Teachers Retirement System of The State of Kentucky bought a new position worth $2,654,000. BNP Paribas Arbitrage SNC grew its position in Fabrinet by 31.5% in the third quarter.
As of now, hedge funds and other institutional investors own 97.13% of the company’s stock.
Research Analysts’ Comments on Fabrinet
Recently, several research analysts commented on Fabrinet’s stock. StockNews.com began covering Fabrinet and issued a “buy” rating for the company in a research note on Thursday, March 16th. B. Riley gave the stock a “neutral” rating and increased its price target from $110.00 to $115.00. Northland Securities rated the company as “outperform” and increased its price objective from $132.50 to $155.00. Loop Capital raised its target price on FN shares from $146.00 to $158.00. Needham & Company LLC upped the company’s price target from $140.00 to $150.00 and issued a “buy” rating.
According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $129.00.
Insider Activity
On February 14th, 2017, Fabrinet’s Director Rollance E. Olson sold 5,000 shares of the company’s stock at an average price of $126.33, amounting to a total transaction of $631,650.00. After the sale, Olson now owns 34,699 shares in Fabrinet, worth $4,383,524.67. The SEC document disclosed the transaction, which is available on the SEC website.
The company’s insiders own 0.50% of the company’s stock.
Fabrinet Price Performance and Profile
Fabrinet (NYSE:FN) opened at $110.82 on Friday, with a market capitalization of $4.06 billion. Its 12 month high and low are $140.18 and $74.57, respectively. The firm has a beta of 1.17 and a PE ratio of 17.51.
Fabrinet provides optical packaging and electronic manufacturing services to original equipment manufacturers. It offers engineering services that include tooling design, process design, failure analysis, reliability testing, and real-time traceability systems. The company also manufactures sensors, subsystems, customized optics, and optical modules and components.
Don’t miss interesting posts on Famousbio
