Healthcare of Ontario Pension Plan Trust Fund Invests $244,000 in Fabrinet (NYSE:FN)

Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Fabrinet (NYSE:FN) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 1,290 shares of the technology company’s stock, valued at approximately $244,000.

Other institutional investors have also added to or reduced their stakes in the company. Evoke Wealth LLC bought a new position in shares of Fabrinet in the fourth quarter worth about $3,135,000. Redwood Investments LLC acquired a new position in Fabrinet during the 4th quarter worth approximately $3,478,000. Cim LLC bought a new position in Fabrinet in the 4th quarter valued at approximately $1,194,000. Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in Fabrinet in the fourth quarter valued at approximately $1,209,000. Finally, Norden Group LLC grew its stake in shares of Fabrinet by 1,775.2% during the first quarter. Norden Group LLC now owns 28,616 shares of the technology company’s stock worth $5,409,000 after buying an additional 27,090 shares during the last quarter. 97.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently weighed in on FN. B. Riley cut their price objective on Fabrinet from $173.00 to $171.00 and set a “neutral” rating on the stock in a report on Tuesday, May 7th. JPMorgan Chase & Co. lifted their price target on Fabrinet from $210.00 to $212.00 and gave the company a “neutral” rating in a research note on Thursday, April 11th. 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. Finally, Jefferies Financial Group began coverage on shares of Fabrinet in a report on Wednesday, June 26th. They issued a “hold” rating and a $230.00 price objective for the company. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Fabrinet currently has an average rating of “Moderate Buy” and a consensus price target of $168.67.

Fabrinet Stock Performance

NYSE:FN opened at $216.44 on Friday. Fabrinet has a fifty-two week low of $114.83 and a fifty-two week high of $266.39. The company has a 50 day simple moving average of $241.61 and a two-hundred day simple moving average of $212.05. The company has a market capitalization of $7.82 billion, a PE ratio of 28.74 and a beta of 0.96.

Fabrinet (NYSE:FN) last posted its quarterly earnings data on Monday, May 6th. The technology company reported $2.21 EPS for the quarter, beating analysts’ consensus estimates of $1.93 by $0.28. Fabrinet had a net margin of 9.90% and a return on equity of 17.67%. The company had revenue of $731.54 million for the quarter, compared to analyst estimates of $718.94 million. Research analysts predict that Fabrinet will post 7.95 EPS for the current year.

Insiders Place Their Bets

In other news, Director Frank H. Levinson sold 6,000 shares of the business’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $241.71, for a total value of $1,450,260.00. Following the transaction, the director now directly owns 5,709 shares of the company’s stock, valued at approximately $1,379,922.39. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.51% of the company’s stock.

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.