World Investment Advisors LLC acquired a new stake in shares of Fabrinet (NYSE:FN - Free Report) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 85,378 shares of the technology company's stock, valued at approximately $20,187,000. World Investment Advisors LLC owned about 0.24% of Fabrinet as of its most recent filing with the SEC.
Other institutional investors have also modified their holdings of the company. nVerses Capital LLC acquired a new position in Fabrinet in the 3rd quarter worth about $567,000. Charles Schwab Investment Management Inc. raised its holdings in Fabrinet by 14.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 480,550 shares of the technology company's stock worth $113,621,000 after purchasing an additional 61,491 shares during the period. Pathstone Holdings LLC raised its holdings in Fabrinet by 40.7% in the 3rd quarter. Pathstone Holdings LLC now owns 8,219 shares of the technology company's stock worth $1,943,000 after purchasing an additional 2,378 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in Fabrinet in the 3rd quarter worth about $2,398,000. Finally, Freedom Investment Management Inc. raised its holdings in Fabrinet by 106.2% in the 3rd quarter. Freedom Investment Management Inc. now owns 4,969 shares of the technology company's stock worth $1,175,000 after purchasing an additional 2,559 shares during the period. Hedge funds and other institutional investors own 97.38% of the company's stock.
Fabrinet Stock Performance
Shares of FN stock traded up $8.13 during trading hours on Friday, reaching $243.00. The company had a trading volume of 228,944 shares, compared to its average volume of 572,874. The stock has a fifty day moving average of $244.43 and a 200-day moving average of $238.25. The company has a market capitalization of $8.81 billion, a price-to-earnings ratio of 28.76 and a beta of 0.92. Fabrinet has a 12-month low of $159.69 and a 12-month high of $278.38.
Fabrinet (NYSE:FN - Get Free Report) last released its quarterly earnings data on Monday, November 4th. The technology company reported $2.39 EPS for the quarter, beating analysts' consensus estimates of $2.38 by $0.01. Fabrinet had a return on equity of 18.08% and a net margin of 10.28%. The firm had revenue of $804.20 million for the quarter, compared to analysts' expectations of $771.24 million. During the same period in the prior year, the firm posted $1.78 earnings per share. The firm's quarterly revenue was up 17.3% on a year-over-year basis. On average, analysts forecast that Fabrinet will post 9.1 EPS for the current year.
Wall Street Analyst Weigh In
A number of research firms recently weighed in on FN. Barclays began coverage on Fabrinet in a report on Thursday, November 14th. They issued an "equal weight" rating and a $292.00 price target for the company. Rosenblatt Securities boosted their price objective on Fabrinet from $260.00 to $280.00 and gave the stock a "buy" rating in a research note on Tuesday, August 20th. JPMorgan Chase & Co. boosted their price objective on Fabrinet from $240.00 to $285.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 20th. B. Riley lowered Fabrinet from a "neutral" rating to a "sell" rating and cut their price objective for the stock from $194.00 to $178.00 in a research note on Wednesday, November 20th. Finally, Needham & Company LLC initiated coverage on Fabrinet in a research note on Tuesday, November 5th. They set a "buy" rating and a $280.00 price objective for the company. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $252.14.
View Our Latest Analysis on FN
Fabrinet Company Profile
(
Free Report)
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.
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