Bowen Hanes & Co. Inc. Has $32.54 Million Holdings in Fabrinet (NYSE:FN)

Bowen Hanes & Co. Inc. lifted its stake in shares of Fabrinet (NYSE:FN - Free Report) by 5.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 148,000 shares of the technology company's stock after purchasing an additional 8,000 shares during the period. Bowen Hanes & Co. Inc. owned approximately 0.41% of Fabrinet worth $32,542,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Huntington National Bank increased its position 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 during the period. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Fabrinet in the 3rd quarter valued at about $52,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Fabrinet during the 3rd quarter worth approximately $61,000. IFP Advisors Inc raised its stake in shares of Fabrinet by 576.2% during the fourth quarter. IFP Advisors Inc now owns 284 shares of the technology company's stock worth $63,000 after buying an additional 242 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new position in Fabrinet in the third quarter valued at approximately $70,000. 97.38% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on FN. Needham & Company LLC reaffirmed a "buy" rating and set a $280.00 target price on shares of Fabrinet in a report on Monday. JPMorgan Chase & Co. decreased their price objective on Fabrinet from $275.00 to $265.00 and set a "neutral" rating for the company in a research note on Tuesday, February 4th. Barclays cut their target price on Fabrinet from $292.00 to $245.00 and set an "equal weight" rating on the stock in a research note on Tuesday, February 4th. Fox Advisors initiated coverage on Fabrinet in a research report on Tuesday, February 18th. They set an "overweight" rating and a $270.00 target price for the company. Finally, B. Riley cut Fabrinet from a "neutral" rating to a "sell" rating and lowered their price target for the company from $194.00 to $178.00 in a research note on Wednesday, November 20th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, Fabrinet currently has a consensus rating of "Hold" and a consensus target price of $246.63.

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Fabrinet Trading Up 0.5 %

Shares of NYSE FN traded up $1.13 during mid-day trading on Monday, reaching $221.13. 923,898 shares of the company's stock were exchanged, compared to its average volume of 546,884. The business has a fifty day simple moving average of $219.44 and a 200 day simple moving average of $230.79. Fabrinet has a twelve month low of $159.69 and a twelve month high of $281.79. The firm has a market capitalization of $8.02 billion, a price-to-earnings ratio of 24.74 and a beta of 0.89.

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