EFG Asset Management North America Corp. Acquires Shares of 7,849 Fabrinet (NYSE:FN)

EFG Asset Management North America Corp. purchased a new position in Fabrinet (NYSE:FN - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,849 shares of the technology company's stock, valued at approximately $1,726,000.

Several other institutional investors have also recently made changes to their positions in the stock. Emerald Advisers LLC boosted its holdings in Fabrinet by 32.0% in the 4th quarter. Emerald Advisers LLC now owns 123,001 shares of the technology company's stock worth $27,045,000 after buying an additional 29,834 shares during the period. Vanguard Group Inc. grew its position in shares of Fabrinet by 2.8% during the fourth quarter. Vanguard Group Inc. now owns 4,137,579 shares of the technology company's stock worth $909,771,000 after purchasing an additional 113,186 shares in the last quarter. Bridge City Capital LLC raised its stake in Fabrinet by 12.5% during the 4th quarter. Bridge City Capital LLC now owns 23,957 shares of the technology company's stock valued at $5,268,000 after purchasing an additional 2,668 shares during the period. LPL Financial LLC lifted its holdings in Fabrinet by 110.4% in the 4th quarter. LPL Financial LLC now owns 14,531 shares of the technology company's stock worth $3,195,000 after purchasing an additional 7,624 shares in the last quarter. Finally, KLP Kapitalforvaltning AS bought a new position in Fabrinet in the 4th quarter worth approximately $1,627,000. Institutional investors own 97.38% of the company's stock.

Fabrinet Price Performance

Shares of Fabrinet stock traded down $11.02 on Friday, reaching $195.58. The company had a trading volume of 895,717 shares, compared to its average volume of 570,520. The firm has a market cap of $7.09 billion, a price-to-earnings ratio of 21.88 and a beta of 0.89. The firm's 50-day moving average price is $216.64 and its two-hundred day moving average price is $230.05. Fabrinet has a 1 year low of $159.69 and a 1 year high of $281.79.

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Fabrinet (NYSE:FN - Get Free Report) last posted its quarterly earnings data on Monday, February 3rd. The technology company reported $2.38 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, analysts anticipate that Fabrinet will post 9.4 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Fox Advisors assumed coverage on shares of Fabrinet in a report on Tuesday, February 18th. They issued an "overweight" rating and a $270.00 target price on the stock. Barclays reduced their target price on Fabrinet from $292.00 to $245.00 and set an "equal weight" rating on the stock in a report on Tuesday, February 4th. Needham & Company LLC reiterated a "buy" rating and issued a $280.00 target price on shares of Fabrinet in a research report on Monday, March 17th. JPMorgan Chase & Co. cut their price target on Fabrinet from $275.00 to $265.00 and set a "neutral" rating for the company in a report on Tuesday, February 4th. Finally, Rosenblatt Securities reaffirmed a "buy" rating and set a $285.00 price objective on shares of Fabrinet in a report on Friday, March 14th. 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. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $250.43.

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.