Delta Investment Management LLC purchased a new position in shares of Fabrinet (NYSE:FN) during the first quarter, Holdings Channel reports. The firm purchased 37,332 shares of the technology company’s stock, valued at approximately $1,954,000.

Several other large investors have also modified their holdings of FN. FMR LLC lifted its holdings in Fabrinet by 79.2% in the fourth quarter. FMR LLC now owns 2,740,360 shares of the technology company’s stock valued at $140,608,000 after buying an additional 1,211,028 shares during the period. Norges Bank acquired a new position in Fabrinet in the fourth quarter valued at $17,661,000. JPMorgan Chase & Co. lifted its holdings in Fabrinet by 156.0% in the third quarter. JPMorgan Chase & Co. now owns 563,241 shares of the technology company’s stock valued at $26,056,000 after buying an additional 343,213 shares during the period. Canada Pension Plan Investment Board lifted its holdings in Fabrinet by 282.4% in the fourth quarter. Canada Pension Plan Investment Board now owns 288,700 shares of the technology company’s stock valued at $14,812,000 after buying an additional 213,200 shares during the period. Finally, Robeco Institutional Asset Management B.V. acquired a new position in Fabrinet in the first quarter valued at $8,955,000. Institutional investors own 97.19% of the company’s stock.

Shares of NYSE:FN traded up $0.62 during midday trading on Wednesday, hitting $57.96. 1,381 shares of the company’s stock were exchanged, compared to its average volume of 371,907. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.23 and a quick ratio of 2.30. The company has a market cap of $2.09 billion, a PE ratio of 19.38, a PEG ratio of 1.34 and a beta of 0.63. Fabrinet has a 12 month low of $34.27 and a 12 month high of $62.31.

Fabrinet (NYSE:FN) last posted its earnings results on Monday, May 6th. The technology company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.76 by $0.16. The company had revenue of $398.95 million during the quarter, compared to the consensus estimate of $389.60 million. Fabrinet had a net margin of 7.27% and a return on equity of 15.60%. The firm’s revenue for the quarter was up 20.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.71 earnings per share. On average, equities research analysts expect that Fabrinet will post 3.25 earnings per share for the current fiscal year.

Several brokerages have recently weighed in on FN. Zacks Investment Research upgraded shares of Fabrinet from a “hold” rating to a “buy” rating and set a $66.00 price objective on the stock in a report on Monday. Needham & Company LLC upped their price objective on shares of Fabrinet from $62.00 to $68.00 and gave the company a “buy” rating in a report on Monday, May 6th. Piper Jaffray Companies upped their price objective on shares of Fabrinet from $56.00 to $61.00 and gave the company an “overweight” rating in a report on Thursday, January 24th. Finally, ValuEngine upgraded shares of Fabrinet from a “hold” rating to a “buy” rating in a report on Saturday, April 13th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $56.50.

In other news, Director Thomas F. Kelly sold 3,000 shares of the business’s stock in a transaction dated Thursday, February 14th. The shares were sold at an average price of $54.79, for a total transaction of $164,370.00. Following the completion of the sale, the director now directly owns 41,323 shares of the company’s stock, valued at $2,264,087.17. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director David T. Mitchell sold 30,000 shares of the business’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $60.02, for a total transaction of $1,800,600.00. Following the sale, the director now directly owns 73,748 shares of the company’s stock, valued at $4,426,354.96. The disclosure for this sale can be found here. Over the last three months, insiders have sold 132,518 shares of company stock valued at $7,506,054. 1.90% of the stock is currently owned by insiders.

TRADEMARK VIOLATION NOTICE: “Delta Investment Management LLC Purchases Shares of 37,332 Fabrinet (FN)” was originally reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this report on another publication, it was stolen and reposted in violation of United States and international copyright and trademark laws. The correct version of this report can be viewed at https://www.thecerbatgem.com/2019/05/15/delta-investment-management-llc-purchases-shares-of-37332-fabrinet-fn.html.

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 optical and electro-mechanical capabilities in the manufacturing process, including process design and engineering, supply chain management, manufacturing, printed circuit board assembly, packaging, integration, final assembly, and test.

Featured Article: No Load Funds

Want to see what other hedge funds are holding FN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fabrinet (NYSE:FN).

Institutional Ownership by Quarter for Fabrinet (NYSE:FN)

Receive News & Ratings for Fabrinet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fabrinet and related companies with MarketBeat.com's FREE daily email newsletter.