Bank of New York Mellon Corp Purchases 2,990 Shares of Fabrinet (NYSE:FN)

Bank of New York Mellon Corp boosted its holdings in Fabrinet (NYSE:FN - Free Report) by 1.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 283,892 shares of the technology company's stock after acquiring an additional 2,990 shares during the quarter. Bank of New York Mellon Corp owned 0.78% of Fabrinet worth $62,422,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Huntington National Bank increased its stake in 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 acquiring an additional 57 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in Fabrinet in the third quarter valued at about $52,000. Public Employees Retirement System of Ohio bought a new stake in Fabrinet in the third quarter valued at about $61,000. IFP Advisors Inc increased its stake in Fabrinet by 576.2% in the fourth quarter. IFP Advisors Inc now owns 284 shares of the technology company's stock valued at $63,000 after acquiring an additional 242 shares during the period. Finally, Wilmington Savings Fund Society FSB bought a new stake in Fabrinet in the third quarter valued at about $70,000. Institutional investors own 97.38% of the company's stock.

Analyst Ratings Changes

A number of research firms have commented on FN. Barclays reduced their price target on shares of 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 lowered shares of Fabrinet from a "neutral" rating to a "sell" rating and reduced their price target for the company from $194.00 to $178.00 in a research report on Wednesday, November 20th. Needham & Company LLC restated a "buy" rating and issued a $280.00 price target on shares of Fabrinet in a research report on Tuesday, February 4th. Fox Advisors began coverage on shares of Fabrinet in a research report on Tuesday, February 18th. They issued an "overweight" rating and a $270.00 price target on the stock. Finally, Rosenblatt Securities boosted their price target 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 equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Fabrinet currently has a consensus rating of "Hold" and an average target price of $246.63.

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Fabrinet Price Performance

Shares of FN stock traded up $10.79 during trading hours on Friday, reaching $194.45. 1,367,595 shares of the company were exchanged, compared to its average volume of 733,557. Fabrinet has a fifty-two week low of $159.69 and a fifty-two week high of $281.79. The stock's fifty day moving average is $220.89 and its two-hundred day moving average is $233.00. The company has a market cap of $7.05 billion, a price-to-earnings ratio of 21.75 and a beta of 0.89.

Fabrinet (NYSE:FN - Get Free Report) last announced its earnings results on Monday, February 3rd. The technology company reported $2.38 earnings per share (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%. On average, research analysts anticipate that Fabrinet will post 9.4 earnings per share for the current year.

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.