Fabrinet (NYSE:FN) Position Boosted by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership lifted its position in shares of Fabrinet (NYSE:FN - Free Report) by 205.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 267,228 shares of the technology company's stock after acquiring an additional 179,679 shares during the period. Arrowstreet Capital Limited Partnership owned about 0.74% of Fabrinet worth $58,758,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Assetmark Inc. raised its holdings in shares of Fabrinet by 12.0% during the fourth quarter. Assetmark Inc. now owns 484 shares of the technology company's stock worth $106,000 after purchasing an additional 52 shares during the period. CIBC Asset Management Inc raised its stake in Fabrinet by 5.7% during the fourth quarter. CIBC Asset Management Inc now owns 1,113 shares of the technology company's stock worth $245,000 after acquiring an additional 60 shares during the period. Nations Financial Group Inc. IA ADV lifted its holdings in Fabrinet by 2.4% in the fourth quarter. Nations Financial Group Inc. IA ADV now owns 2,941 shares of the technology company's stock worth $647,000 after acquiring an additional 68 shares during the last quarter. Janney Montgomery Scott LLC lifted its holdings in Fabrinet by 2.6% in the fourth quarter. Janney Montgomery Scott LLC now owns 3,279 shares of the technology company's stock worth $721,000 after acquiring an additional 82 shares during the last quarter. Finally, Transamerica Financial Advisors Inc. boosted its stake in Fabrinet by 17.2% in the fourth quarter. Transamerica Financial Advisors Inc. now owns 565 shares of the technology company's stock valued at $125,000 after acquiring an additional 83 shares during the period. 97.38% of the stock is currently owned by institutional investors.

Fabrinet Price Performance

Shares of NYSE FN traded down $1.45 during midday trading on Friday, reaching $171.11. 2,458,550 shares of the company traded hands, compared to its average volume of 587,642. The company has a market cap of $6.21 billion, a price-to-earnings ratio of 19.14 and a beta of 0.97. The stock has a 50-day moving average price of $209.73 and a 200 day moving average price of $228.93. Fabrinet has a 52 week low of $148.55 and a 52 week high of $281.79.

Fabrinet (NYSE:FN - Get Free Report) last released its quarterly earnings results on Monday, February 3rd. The technology company reported $2.38 EPS for the quarter, missing analysts' consensus estimates of $2.48 by ($0.10). Fabrinet had a return on equity of 18.48% and a net margin of 10.44%. As a group, analysts expect that Fabrinet will post 9.4 EPS for the current year.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Rosenblatt Securities reissued a "buy" rating and issued a $285.00 price target on shares of Fabrinet in a report on Friday, March 14th. B. Riley upgraded Fabrinet from a "sell" rating to a "neutral" rating and cut their target price for the company from $178.00 to $176.00 in a research note on Friday. Fox Advisors began coverage on shares of Fabrinet in a research report on Tuesday, February 18th. They set an "overweight" rating and a $270.00 price target for the company. Barclays dropped their price objective on shares of Fabrinet from $292.00 to $245.00 and set an "equal weight" rating on the stock in a report on Tuesday, February 4th. Finally, Needham & Company LLC reissued a "buy" rating and set a $280.00 target price on shares of Fabrinet in a research note on Monday, March 17th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $250.14.

Fabrinet 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.