Bryce Point Capital LLC Acquires New Position in Fabrinet (NYSE:FN)

Bryce Point Capital LLC bought a new position in Fabrinet (NYSE:FN - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,297 shares of the technology company's stock, valued at approximately $505,000.

Several other hedge funds and other institutional investors have also modified their holdings of FN. Huntington National Bank raised its stake in Fabrinet by 66.7% during the fourth quarter. Huntington National Bank now owns 230 shares of the technology company's stock worth $51,000 after acquiring an additional 92 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Fabrinet by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 1,006,858 shares of the technology company's stock worth $221,430,000 after purchasing an additional 20,045 shares in the last quarter. Franklin Resources Inc. increased its position in shares of Fabrinet by 2.5% during the 4th quarter. Franklin Resources Inc. now owns 137,109 shares of the technology company's stock worth $30,148,000 after purchasing an additional 3,318 shares in the last quarter. Clearbridge Investments LLC lifted its holdings in Fabrinet by 0.4% during the 4th quarter. Clearbridge Investments LLC now owns 156,726 shares of the technology company's stock valued at $34,461,000 after purchasing an additional 637 shares during the last quarter. Finally, Schroder Investment Management Group boosted its position in Fabrinet by 85.6% in the fourth quarter. Schroder Investment Management Group now owns 82,629 shares of the technology company's stock valued at $17,745,000 after buying an additional 38,100 shares in the last quarter. Institutional investors own 97.38% of the company's stock.

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Fabrinet Stock Performance

Shares of FN traded up $27.54 during trading hours on Wednesday, reaching $201.56. The stock had a trading volume of 1,623,562 shares, compared to its average volume of 601,454. The company's 50-day moving average is $207.41 and its two-hundred day moving average is $227.36. Fabrinet has a 12 month low of $148.55 and a 12 month high of $281.79. The stock has a market capitalization of $7.31 billion, a PE ratio of 22.55 and a beta of 0.97.

Fabrinet (NYSE:FN - Get Free Report) last posted its quarterly earnings data 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 analysts anticipate that Fabrinet will post 9.4 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have weighed in on FN. Needham & Company LLC reaffirmed a "buy" rating and issued a $280.00 target price on shares of Fabrinet in a research note on Monday, March 17th. Fox Advisors started coverage on Fabrinet in a report on Tuesday, February 18th. They set an "overweight" rating and a $270.00 price objective for the company. Barclays decreased their price objective on Fabrinet from $292.00 to $245.00 and set an "equal weight" rating for the company in a report on Tuesday, February 4th. B. Riley raised Fabrinet from a "sell" rating to a "neutral" rating and cut their price objective for the company from $178.00 to $176.00 in a research report on Friday, April 4th. Finally, Rosenblatt Securities reiterated a "buy" rating and issued a $285.00 price objective on shares of Fabrinet in a research note on Friday, March 14th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average 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.