Capital International Investors Sells 34,562 Shares of Fabrinet (NYSE:FN)

Capital International Investors lowered its position in shares of Fabrinet (NYSE:FN - Free Report) by 2.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,259,597 shares of the technology company's stock after selling 34,562 shares during the quarter. Capital International Investors owned about 3.47% of Fabrinet worth $276,960,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Huntington National Bank increased its stake in Fabrinet by 66.7% during the 4th quarter. Huntington National Bank now owns 230 shares of the technology company's stock valued at $51,000 after purchasing an additional 92 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of Fabrinet in the third quarter worth approximately $61,000. IFP Advisors Inc boosted its position in shares of Fabrinet by 576.2% during the fourth quarter. IFP Advisors Inc now owns 284 shares of the technology company's stock valued at $63,000 after buying an additional 242 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Fabrinet during the third quarter worth $70,000. Finally, Assetmark Inc. lifted its stake in Fabrinet by 12.0% during the 4th quarter. Assetmark Inc. now owns 484 shares of the technology company's stock valued at $106,000 after acquiring an additional 52 shares in the last quarter. 97.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on FN. JPMorgan Chase & Co. reduced their target price on shares of Fabrinet from $265.00 to $220.00 and set a "neutral" rating for the company in a research note on Thursday, April 17th. Rosenblatt Securities dropped their target price on shares of Fabrinet from $280.00 to $230.00 and set a "buy" rating on the stock in a research report on Tuesday. Needham & Company LLC restated a "buy" rating and issued a $280.00 target price on shares of Fabrinet in a research note on Monday, March 17th. B. Riley raised Fabrinet from a "sell" rating to a "neutral" rating and decreased their price target for the company from $178.00 to $176.00 in a research report on Friday, April 4th. Finally, Fox Advisors began coverage on Fabrinet in a research report on Tuesday, February 18th. They issued an "overweight" rating and a $270.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Fabrinet currently has an average rating of "Hold" and an average target price of $235.86.

Fabrinet Stock Performance

NYSE FN traded up $13.63 on Thursday, hitting $200.45. 295,392 shares of the stock traded hands, compared to its average volume of 609,378. The business's fifty day moving average is $201.27 and its two-hundred day moving average is $223.93. Fabrinet has a 12 month low of $148.55 and a 12 month high of $281.79. The firm has a market capitalization of $7.18 billion, a price-to-earnings ratio of 22.45 and a beta of 0.97.

Fabrinet (NYSE:FN - Get Free Report) last posted its earnings results on Monday, February 3rd. The technology company reported $2.38 earnings per share 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%. Analysts expect that Fabrinet will post 9.4 EPS for the current fiscal year.

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.