Baillie Gifford & Co. Buys 53,250 Shares of Fabrinet (NYSE:FN)

Baillie Gifford & Co. boosted its stake in Fabrinet (NYSE:FN - Free Report) by 10.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 553,038 shares of the technology company's stock after acquiring an additional 53,250 shares during the quarter. Baillie Gifford & Co. owned 1.52% of Fabrinet worth $121,602,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Huntington National Bank raised its holdings in shares of Fabrinet by 70.4% in the third quarter. Huntington National Bank now owns 138 shares of the technology company's stock valued at $33,000 after purchasing an additional 57 shares during the last quarter. NBC Securities Inc. increased its stake in Fabrinet by 732.0% in the 3rd quarter. NBC Securities Inc. now owns 208 shares of the technology company's stock valued at $49,000 after buying an additional 183 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Fabrinet in the 3rd quarter valued at $52,000. Eastern Bank bought a new stake in Fabrinet during the 3rd quarter worth about $59,000. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of Fabrinet during the 3rd quarter worth about $61,000. 97.38% of the stock is owned by institutional investors and hedge funds.

Fabrinet Stock Down 3.7 %

Shares of FN traded down $8.50 during trading hours on Friday, hitting $222.17. The company had a trading volume of 495,615 shares, compared to its average volume of 717,445. The business has a fifty day moving average of $226.73 and a 200-day moving average of $233.90. The firm has a market cap of $8.06 billion, a price-to-earnings ratio of 24.85 and a beta of 0.92. Fabrinet has a 12 month low of $159.69 and a 12 month high of $281.79.

Fabrinet (NYSE:FN - Get Free Report) last issued its quarterly earnings data on Monday, February 3rd. The technology company reported $2.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.48 by ($0.10). Fabrinet had a return on equity of 18.48% and a net margin of 10.44%. On average, equities analysts expect that Fabrinet will post 9.4 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on FN. Barclays lowered their target price on Fabrinet from $292.00 to $245.00 and set an "equal weight" rating on the stock in a research report on Tuesday, February 4th. B. Riley cut Fabrinet from a "neutral" rating to a "sell" rating and dropped their price objective for the stock from $194.00 to $178.00 in a research note on Wednesday, November 20th. JPMorgan Chase & Co. decreased their target price on shares of Fabrinet from $275.00 to $265.00 and set a "neutral" rating for the company in a research note on Tuesday, February 4th. Fox Advisors assumed coverage on shares of Fabrinet in a research report on Tuesday. They set an "overweight" rating and a $270.00 price target on the stock. Finally, Rosenblatt Securities lifted their price objective on shares of Fabrinet from $280.00 to $285.00 and gave the company a "buy" rating in a research report on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $246.63.

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.