UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Acquires 29,639 Shares of Fabrinet (NYSE:FN)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Fabrinet (NYSE:FN - Free Report) by 85.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 64,492 shares of the technology company's stock after buying an additional 29,639 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.18% of Fabrinet worth $15,248,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Charles Schwab Investment Management Inc. lifted its holdings in shares of Fabrinet by 14.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 480,550 shares of the technology company's stock worth $113,621,000 after buying an additional 61,491 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Fabrinet by 4.1% during the second quarter. Bank of New York Mellon Corp now owns 314,665 shares of the technology company's stock valued at $77,027,000 after purchasing an additional 12,409 shares during the period. Epoch Investment Partners Inc. increased its position in shares of Fabrinet by 9.6% during the second quarter. Epoch Investment Partners Inc. now owns 302,006 shares of the technology company's stock valued at $73,928,000 after purchasing an additional 26,475 shares during the period. Driehaus Capital Management LLC increased its position in shares of Fabrinet by 183.5% during the second quarter. Driehaus Capital Management LLC now owns 277,978 shares of the technology company's stock valued at $68,046,000 after purchasing an additional 179,943 shares during the period. Finally, Victory Capital Management Inc. increased its position in shares of Fabrinet by 19.8% during the second quarter. Victory Capital Management Inc. now owns 236,705 shares of the technology company's stock valued at $57,943,000 after purchasing an additional 39,063 shares during the period. 97.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on FN shares. JPMorgan Chase & Co. boosted their price objective on Fabrinet from $240.00 to $285.00 and gave the company a "neutral" rating in a research report on Tuesday, August 20th. Rosenblatt Securities boosted their price objective on Fabrinet from $260.00 to $280.00 and gave the company a "buy" rating in a research report on Tuesday, August 20th. B. Riley cut Fabrinet from a "neutral" rating to a "sell" rating and lowered their price objective for the company from $194.00 to $178.00 in a research report on Wednesday, November 20th. Barclays began coverage on Fabrinet in a research report on Thursday, November 14th. They set an "equal weight" rating and a $292.00 price objective on the stock. Finally, Needham & Company LLC began coverage on Fabrinet in a research report on Tuesday, November 5th. They issued a "buy" rating and a $280.00 price target on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Fabrinet has a consensus rating of "Hold" and an average price target of $252.14.

Fabrinet Stock Performance

NYSE:FN traded up $8.13 during mid-day trading on Friday, hitting $243.00. The company had a trading volume of 228,944 shares, compared to its average volume of 572,874. Fabrinet has a fifty-two week low of $159.69 and a fifty-two week high of $278.38. The business's fifty day moving average is $244.43 and its two-hundred day moving average is $238.22. The firm has a market cap of $8.81 billion, a P/E ratio of 28.76 and a beta of 0.92.

Fabrinet (NYSE:FN - Get Free Report) last released its earnings results on Monday, November 4th. The technology company reported $2.39 earnings per share for the quarter, beating the consensus estimate of $2.38 by $0.01. Fabrinet had a return on equity of 18.08% and a net margin of 10.28%. The firm had revenue of $804.20 million for the quarter, compared to analyst estimates of $771.24 million. During the same quarter in the prior year, the firm posted $1.78 earnings per share. The company's quarterly revenue was up 17.3% on a year-over-year basis. Equities analysts forecast that Fabrinet will post 9.1 earnings per share 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.