Orion Capital Management LLC Invests $62,000 in Fabrinet (NYSE:FN)

Orion Capital Management LLC bought a new position in shares of Fabrinet (NYSE:FN) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 282 shares of the technology company’s stock, valued at approximately $62,000.

Other large investors also recently bought and sold shares of the company. Barclays PLC lifted its stake in Fabrinet by 304.6% in the 3rd quarter. Barclays PLC now owns 69,128 shares of the technology company’s stock worth $16,345,000 after purchasing an additional 52,042 shares in the last quarter. Janney Montgomery Scott LLC boosted its holdings in shares of Fabrinet by 2.6% during the 4th quarter. Janney Montgomery Scott LLC now owns 3,279 shares of the technology company’s stock worth $721,000 after purchasing an additional 82 shares during the last quarter. T. Rowe Price Investment Management Inc. acquired a new position in shares of Fabrinet during the 4th quarter worth approximately $1,945,000. Tokio Marine Asset Management Co. Ltd. acquired a new position in shares of Fabrinet during the 4th quarter worth approximately $4,615,000. Finally, Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Fabrinet by 178.9% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,008 shares of the technology company’s stock worth $881,000 after purchasing an additional 2,571 shares during the last quarter. Hedge funds and other institutional investors own 97.38% of the company’s stock.

Insider Buying and Selling at Fabrinet

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

Fabrinet Stock Down 0.4%

Shares of NYSE FN opened at $227.34 on Thursday. The firm has a market cap of $8.15 billion, a price-to-earnings ratio of 25.43 and a beta of 0.95. Fabrinet has a 52-week low of $148.55 and a 52-week high of $281.79. The business’s 50 day moving average is $203.75 and its two-hundred day moving average is $218.96.

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

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. JPMorgan Chase & Co. boosted their target price on Fabrinet from $220.00 to $235.00 and gave the stock a “neutral” rating in a report on Tuesday, May 6th. B. Riley upgraded Fabrinet from a “sell” rating to a “neutral” rating and decreased their price objective for the company from $178.00 to $176.00 in a report on Friday, April 4th. Needham & Company LLC reiterated a “buy” rating and issued a $280.00 price objective on shares of Fabrinet in a report on Tuesday, May 6th. Fox Advisors started coverage on Fabrinet in a report on Tuesday, February 18th. They issued an “overweight” rating and a $270.00 price objective on the stock. Finally, Barclays set a $234.00 price objective on Fabrinet and gave the company an “equal weight” rating in a report on Tuesday, May 6th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $239.29.

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.