Cibc World Markets Corp Acquires New Position in Fabrinet (NYSE:FN)

Cibc World Markets Corp acquired a new position in Fabrinet (NYSE:FN - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 3,412 shares of the technology company's stock, valued at approximately $750,000.

Several other institutional investors have also recently made changes to their positions in the stock. Polen Capital Management LLC purchased a new position in shares of Fabrinet during the 4th quarter valued at $2,772,000. First Eagle Investment Management LLC boosted its stake in shares of Fabrinet by 24.8% in the fourth quarter. First Eagle Investment Management LLC now owns 60,040 shares of the technology company's stock worth $13,202,000 after acquiring an additional 11,936 shares during the period. Commonwealth Equity Services LLC grew its position in shares of Fabrinet by 11.0% during the fourth quarter. Commonwealth Equity Services LLC now owns 3,940 shares of the technology company's stock worth $866,000 after purchasing an additional 391 shares in the last quarter. Bowen Hanes & Co. Inc. raised its stake in Fabrinet by 5.7% during the 4th quarter. Bowen Hanes & Co. Inc. now owns 148,000 shares of the technology company's stock valued at $32,542,000 after purchasing an additional 8,000 shares during the period. Finally, Erste Asset Management GmbH boosted its stake in Fabrinet by 34.7% in the 4th quarter. Erste Asset Management GmbH now owns 28,785 shares of the technology company's stock worth $6,272,000 after purchasing an additional 7,410 shares during the period. Institutional investors own 97.38% of the company's stock.

Analysts Set New Price Targets

FN has been the topic of several recent analyst reports. Barclays reduced their price objective 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. JPMorgan Chase & Co. dropped their price objective on shares of Fabrinet from $275.00 to $265.00 and set a "neutral" rating for the company in a report on Tuesday, February 4th. Rosenblatt Securities restated a "buy" rating and set a $285.00 price objective on shares of Fabrinet in a research report on Friday, March 14th. Needham & Company LLC reissued a "buy" rating and set a $280.00 price target on shares of Fabrinet in a research note on Monday, March 17th. Finally, Fox Advisors began coverage on Fabrinet in a research note on Tuesday, February 18th. They issued an "overweight" rating and a $270.00 price objective on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $250.43.

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Fabrinet Trading Down 6.1 %

NYSE:FN traded down $13.68 during midday trading on Wednesday, hitting $208.94. 731,159 shares of the company traded hands, compared to its average volume of 549,326. The firm's fifty day moving average is $218.64 and its 200-day moving average is $230.46. The firm has a market capitalization of $7.58 billion, a P/E ratio of 23.37 and a beta of 0.89. Fabrinet has a 12-month low of $159.69 and a 12-month high of $281.79.

Fabrinet (NYSE:FN - Get Free Report) last released its quarterly earnings results on Monday, February 3rd. The technology company reported $2.38 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 expect that Fabrinet will post 9.4 EPS 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.