Jump Financial LLC Grows Stock Position in Fabrinet (NYSE:FN)

Jump Financial LLC boosted its stake in Fabrinet (NYSE:FN - Free Report) by 266.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 39,411 shares of the technology company's stock after acquiring an additional 28,664 shares during the quarter. Jump Financial LLC owned about 0.11% of Fabrinet worth $8,666,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. CreativeOne Wealth LLC acquired a new stake in Fabrinet in the 4th quarter worth approximately $241,000. Mariner LLC boosted its stake in Fabrinet by 129.3% during the 4th quarter. Mariner LLC now owns 9,010 shares of the technology company's stock worth $1,981,000 after acquiring an additional 5,081 shares during the last quarter. Barclays PLC increased its position in shares of Fabrinet by 28.5% in the 4th quarter. Barclays PLC now owns 88,801 shares of the technology company's stock valued at $19,525,000 after buying an additional 19,673 shares in the last quarter. Toronado Partners LLC raised its position in shares of Fabrinet by 9.7% during the fourth quarter. Toronado Partners LLC now owns 98,746 shares of the technology company's stock worth $21,712,000 after purchasing an additional 8,700 shares during the period. Finally, Capital Fund Management S.A. lifted its position in Fabrinet by 192.3% in the 4th quarter. Capital Fund Management S.A. now owns 67,379 shares of the technology company's stock valued at $14,815,000 after acquiring an additional 44,326 shares in the last quarter. 97.38% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently commented on FN shares. JPMorgan Chase & Co. decreased their target price on Fabrinet from $265.00 to $220.00 and set a "neutral" rating on the stock in a research report on Thursday. B. Riley raised shares of Fabrinet from a "sell" rating to a "neutral" rating and reduced their price target for the company from $178.00 to $176.00 in a research report on Friday, April 4th. Rosenblatt Securities reiterated a "buy" rating and issued a $285.00 price objective on shares of Fabrinet in a research note on Friday, March 14th. Needham & Company LLC reaffirmed a "buy" rating and issued a $280.00 price target on shares of Fabrinet in a report on Monday, March 17th. Finally, Fox Advisors assumed coverage on Fabrinet in a research report on Tuesday, February 18th. They issued an "overweight" rating and a $270.00 target price for the company. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $243.71.

Fabrinet Stock Down 1.6 %

Shares of NYSE:FN traded down $3.08 during trading on Friday, reaching $183.63. 425,242 shares of the company's stock traded hands, compared to its average volume of 605,850. The company has a 50-day simple moving average of $203.49 and a 200-day simple moving average of $225.13. The firm has a market cap of $6.58 billion, a PE ratio of 20.54 and a beta of 0.97. Fabrinet has a fifty-two week low of $148.55 and a fifty-two week high of $281.79.

Fabrinet (NYSE:FN - Get Free Report) last issued its quarterly earnings results on Monday, February 3rd. The technology company reported $2.38 earnings per share (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, equities research analysts forecast that Fabrinet will post 9.4 EPS 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.