Fabrinet (NYSE:FN) Shares Bought by First Eagle Investment Management LLC

First Eagle Investment Management LLC grew its stake in Fabrinet (NYSE:FN - Free Report) by 24.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 60,040 shares of the technology company's stock after purchasing an additional 11,936 shares during the period. First Eagle Investment Management LLC owned approximately 0.17% of Fabrinet worth $13,202,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Assetmark Inc. grew its position in Fabrinet by 468.4% in the third quarter. Assetmark Inc. now owns 432 shares of the technology company's stock worth $102,000 after acquiring an additional 356 shares during the period. Aigen Investment Management LP purchased a new position in Fabrinet in the third quarter worth approximately $442,000. KBC Group NV grew its position in Fabrinet by 12.2% in the third quarter. KBC Group NV now owns 1,022 shares of the technology company's stock worth $242,000 after acquiring an additional 111 shares during the period. Huntington National Bank grew its position in Fabrinet by 70.4% in the third quarter. Huntington National Bank now owns 138 shares of the technology company's stock worth $33,000 after acquiring an additional 57 shares during the period. Finally, Mutual of America Capital Management LLC grew its position in Fabrinet by 43.4% in the third quarter. Mutual of America Capital Management LLC now owns 44,175 shares of the technology company's stock worth $10,445,000 after acquiring an additional 13,361 shares during the period. 97.38% of the stock is currently owned by hedge funds and other institutional investors.

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Fabrinet Price Performance

Shares of NYSE FN traded up $2.21 during mid-day trading on Wednesday, hitting $225.07. The company had a trading volume of 750,269 shares, compared to its average volume of 548,587. The company has a market capitalization of $8.16 billion, a PE ratio of 25.18 and a beta of 0.89. Fabrinet has a 1-year low of $159.69 and a 1-year high of $281.79. The business's 50-day simple moving average is $219.08 and its 200 day simple moving average is $230.48.

Fabrinet (NYSE:FN - Get Free Report) last announced its quarterly earnings data 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 net margin of 10.44% and a return on equity of 18.48%. On average, analysts expect that Fabrinet will post 9.4 EPS for the current year.

Analysts Set New Price Targets

FN has been the subject of several analyst reports. B. Riley lowered Fabrinet from a "neutral" rating to a "sell" rating and lowered their price objective for the stock from $194.00 to $178.00 in a research report on Wednesday, November 20th. Rosenblatt Securities restated a "buy" rating and set a $285.00 price target on shares of Fabrinet in a research report on Friday, March 14th. Fox Advisors initiated coverage on Fabrinet in a research report on Tuesday, February 18th. They set an "overweight" rating and a $270.00 price target for the company. Needham & Company LLC restated a "buy" rating and set a $280.00 price target on shares of Fabrinet in a research report on Monday. Finally, JPMorgan Chase & Co. lowered their price target on Fabrinet from $275.00 to $265.00 and set a "neutral" rating for the company in a research report on Tuesday, February 4th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Fabrinet has a consensus rating of "Hold" and an average price target of $246.63.

Fabrinet Company 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.