Fabrinet (NYSE:FN) Shares Bought by Barclays PLC

Barclays PLC lifted its stake in Fabrinet (NYSE:FN - Free Report) by 304.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 69,128 shares of the technology company's stock after acquiring an additional 52,042 shares during the period. Barclays PLC owned 0.19% of Fabrinet worth $16,345,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in FN. Huntington National Bank raised its holdings in Fabrinet by 70.4% in the third quarter. Huntington National Bank now owns 138 shares of the technology company's stock worth $33,000 after purchasing an additional 57 shares in the last quarter. Banque Cantonale Vaudoise bought a new position in shares of Fabrinet during the 2nd quarter worth approximately $35,000. Kimelman & Baird LLC bought a new position in shares of Fabrinet during the 2nd quarter worth approximately $49,000. NBC Securities Inc. lifted its position in Fabrinet by 732.0% during the third quarter. NBC Securities Inc. now owns 208 shares of the technology company's stock valued at $49,000 after acquiring an additional 183 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Fabrinet in the third quarter valued at approximately $52,000. 97.38% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Needham & Company LLC initiated coverage on Fabrinet in a research report on Tuesday, November 5th. They set a "buy" rating and a $280.00 price target on the stock. Rosenblatt Securities raised their price target on Fabrinet from $260.00 to $280.00 and gave the stock a "buy" rating in a report on Tuesday, August 20th. JPMorgan Chase & Co. boosted their price target on Fabrinet from $240.00 to $285.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 20th. Barclays initiated coverage on shares of Fabrinet in a research report on Thursday, November 14th. They issued an "equal weight" rating and a $292.00 price objective for the company. Finally, B. Riley downgraded shares of Fabrinet from a "neutral" rating to a "sell" rating and dropped their target price for the stock from $194.00 to $178.00 in a research report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Fabrinet presently has a consensus rating of "Hold" and an average target price of $252.14.

Fabrinet Stock Performance

NYSE FN traded up $2.04 during trading hours on Friday, reaching $247.86. The stock had a trading volume of 358,470 shares, compared to its average volume of 495,274. Fabrinet has a 52-week low of $159.69 and a 52-week high of $278.38. The stock has a fifty day moving average of $245.00 and a 200 day moving average of $238.14. The stock has a market cap of $8.99 billion, a P/E ratio of 29.33 and a beta of 0.92.

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 the consensus estimate of $2.38 by $0.01. Fabrinet had a net margin of 10.28% and a return on equity of 18.08%. The business had revenue of $804.20 million for the quarter, compared to the consensus estimate of $771.24 million. During the same period in the prior year, the firm earned $1.78 EPS. The business's revenue for the quarter was up 17.3% on a year-over-year basis. On average, equities research analysts forecast that Fabrinet will post 9.1 EPS for the current year.

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 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.