Canada Pension Plan Investment Board Has $8.66 Million Stock Holdings in Fabrinet (NYSE:FN)

Canada Pension Plan Investment Board raised its stake in Fabrinet (NYSE:FN - Free Report) by 70.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 39,400 shares of the technology company's stock after buying an additional 16,300 shares during the quarter. Canada Pension Plan Investment Board owned 0.11% of Fabrinet worth $8,663,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the stock. Huntington National Bank grew its stake in Fabrinet by 66.7% in the fourth quarter. Huntington National Bank now owns 230 shares of the technology company's stock valued at $51,000 after acquiring an additional 92 shares during the period. Public Employees Retirement System of Ohio bought a new stake in Fabrinet during the 3rd quarter worth approximately $61,000. IFP Advisors Inc raised its holdings in Fabrinet by 576.2% during the 4th 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 period. Wilmington Savings Fund Society FSB bought a new position in Fabrinet in the third quarter valued at approximately $70,000. Finally, Assetmark Inc. boosted its holdings in shares of Fabrinet by 12.0% in the fourth quarter. Assetmark Inc. now owns 484 shares of the technology company's stock valued at $106,000 after buying an additional 52 shares during the period. 97.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

FN has been the topic of a number of research analyst reports. Barclays dropped their price objective on shares of Fabrinet from $292.00 to $245.00 and set an "equal weight" rating on the stock in a report on Tuesday, February 4th. JPMorgan Chase & Co. cut their price target on Fabrinet from $265.00 to $220.00 and set a "neutral" rating on the stock in a report on Thursday, April 17th. B. Riley upgraded Fabrinet from a "sell" rating to a "neutral" rating and decreased their price objective for the stock from $178.00 to $176.00 in a report on Friday, April 4th. Rosenblatt Securities dropped their target price on Fabrinet from $280.00 to $230.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $280.00 price target on shares of Fabrinet in a research report on Monday, March 17th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, Fabrinet has an average rating of "Hold" and a consensus price target of $235.86.

Fabrinet Trading Up 0.8 %

Shares of NYSE:FN traded up $1.54 during trading on Friday, hitting $200.54. 399,025 shares of the company were exchanged, compared to its average volume of 614,359. Fabrinet has a fifty-two week low of $148.55 and a fifty-two week high of $281.79. The stock has a market cap of $7.19 billion, a price-to-earnings ratio of 22.43 and a beta of 0.97. The firm has a fifty day moving average price of $199.99 and a two-hundred day moving average price of $222.91.

Fabrinet (NYSE:FN - Get Free Report) last posted its quarterly earnings results 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%. As a group, research analysts predict that Fabrinet will post 9.4 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.