Artisan Partners Limited Partnership Has $85.18 Million Position in Fabrinet (NYSE:FN)

Artisan Partners Limited Partnership cut its stake in Fabrinet (NYSE:FN - Free Report) by 9.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 387,380 shares of the technology company's stock after selling 41,612 shares during the period. Artisan Partners Limited Partnership owned approximately 1.07% of Fabrinet worth $85,177,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Wedge Capital Management L L P NC acquired a new stake in shares of Fabrinet during the 4th quarter worth approximately $63,222,000. Whale Rock Capital Management LLC boosted its holdings in shares of Fabrinet by 25.8% in the 3rd quarter. Whale Rock Capital Management LLC now owns 855,767 shares of the technology company's stock valued at $202,338,000 after purchasing an additional 175,684 shares in the last quarter. Stephens Investment Management Group LLC acquired a new stake in shares of Fabrinet in the 4th quarter valued at $28,218,000. Vanguard Group Inc. increased its stake in shares of Fabrinet by 2.8% in the 4th quarter. Vanguard Group Inc. now owns 4,137,579 shares of the technology company's stock valued at $909,771,000 after purchasing an additional 113,186 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of Fabrinet during the 4th quarter worth $24,844,000. 97.38% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

FN has been the topic of a number of recent analyst reports. Barclays decreased their target price on Fabrinet from $292.00 to $245.00 and set an "equal weight" rating on the stock in a research report on Tuesday, February 4th. Fox Advisors assumed coverage on shares of Fabrinet in a research report on Tuesday, February 18th. They set an "overweight" rating and a $270.00 price objective for the company. Needham & Company LLC reissued a "buy" rating and issued a $280.00 price objective on shares of Fabrinet in a research note on Monday, March 17th. JPMorgan Chase & Co. decreased their target price on shares of Fabrinet from $275.00 to $265.00 and set a "neutral" rating on the stock in a research note on Tuesday, February 4th. Finally, Rosenblatt Securities reiterated a "buy" rating and issued a $285.00 price target on shares of Fabrinet in a research note on Friday, March 14th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $250.43.

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Fabrinet Stock Down 0.4 %

Shares of FN stock traded down $0.83 during trading hours on Tuesday, hitting $196.68. 735,990 shares of the company's stock traded hands, compared to its average volume of 574,358. The stock has a market cap of $7.13 billion, a PE ratio of 22.00 and a beta of 0.89. The stock's 50 day simple moving average is $214.65 and its 200 day simple moving average is $229.90. Fabrinet has a 12 month low of $159.69 and a 12 month high of $281.79.

Fabrinet (NYSE:FN - Get Free Report) last announced its 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, equities 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.