FMR LLC boosted its stake in shares of Fabrinet (NYSE:FN - Free Report) by 13.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,213,887 shares of the technology company's stock after purchasing an additional 257,164 shares during the period. FMR LLC owned 6.10% of Fabrinet worth $486,789,000 as of its most recent filing with the SEC.
Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Fabrinet by 2.8% in the fourth quarter. Vanguard Group Inc. now owns 4,137,579 shares of the technology company's stock valued at $909,771,000 after acquiring an additional 113,186 shares during the period. Geode Capital Management LLC raised its holdings in Fabrinet by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 1,006,858 shares of the technology company's stock valued at $221,430,000 after acquiring an additional 20,045 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Fabrinet by 1.4% during the 4th quarter. JPMorgan Chase & Co. now owns 669,459 shares of the technology company's stock valued at $147,201,000 after acquiring an additional 9,058 shares during the period. Baillie Gifford & Co. increased its position in shares of Fabrinet by 10.7% in the fourth quarter. Baillie Gifford & Co. now owns 553,038 shares of the technology company's stock worth $121,602,000 after purchasing an additional 53,250 shares during the period. Finally, Norges Bank acquired a new position in Fabrinet in the fourth quarter valued at about $95,084,000. 97.38% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several analysts recently issued reports on the stock. Needham & Company LLC reiterated a "buy" rating and set a $280.00 price target on shares of Fabrinet in a research report on Monday, March 17th. Fox Advisors initiated coverage on Fabrinet in a report on Tuesday, February 18th. They issued an "overweight" rating and a $270.00 target price for the company. B. Riley raised Fabrinet from a "sell" rating to a "neutral" rating and lowered their price objective for the company from $178.00 to $176.00 in a research note on Friday, April 4th. Barclays reduced their target price on shares of Fabrinet from $292.00 to $245.00 and set an "equal weight" rating on the stock in a report on Tuesday, February 4th. Finally, Rosenblatt Securities reiterated a "buy" rating and set a $285.00 price target on shares of Fabrinet in a report on Friday, March 14th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Fabrinet has an average rating of "Hold" and a consensus target price of $250.14.
Read Our Latest Analysis on FN
Fabrinet Price Performance
Shares of FN traded up $1.09 during trading hours on Tuesday, hitting $191.28. The stock had a trading volume of 158,074 shares, compared to its average volume of 600,751. The firm has a 50 day simple moving average of $205.69 and a 200-day simple moving average of $226.34. Fabrinet has a 1-year low of $148.55 and a 1-year high of $281.79. The firm has a market capitalization of $6.94 billion, a P/E ratio of 21.40 and a beta of 0.97.
Fabrinet (NYSE:FN - Get Free Report) last released its quarterly earnings data on Monday, February 3rd. The technology company reported $2.38 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%. Equities analysts predict that Fabrinet will post 9.4 EPS for the current fiscal year.
Fabrinet Profile
(
Free Report)
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.
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