Fabrinet (NYSE:FN) Shares Purchased by Franklin Resources Inc.

Franklin Resources Inc. boosted its holdings in shares of Fabrinet (NYSE:FN - Free Report) by 2.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 137,109 shares of the technology company's stock after buying an additional 3,318 shares during the quarter. Franklin Resources Inc. owned 0.38% of Fabrinet worth $30,148,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FN. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Fabrinet in the 3rd quarter worth approximately $52,000. Public Employees Retirement System of Ohio acquired a new position in shares of Fabrinet in the third quarter worth about $61,000. IFP Advisors Inc grew its position in shares of Fabrinet by 576.2% during the 4th quarter. IFP Advisors Inc now owns 284 shares of the technology company's stock valued at $63,000 after acquiring an additional 242 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in Fabrinet in the 3rd quarter worth about $70,000. Finally, Assetmark Inc. boosted its position in Fabrinet by 12.0% during the fourth quarter. Assetmark Inc. now owns 484 shares of the technology company's stock worth $106,000 after purchasing an additional 52 shares in the last quarter. 97.38% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on FN. JPMorgan Chase & Co. reduced their target price on Fabrinet from $275.00 to $265.00 and set a "neutral" rating for the company in a research note on Tuesday, February 4th. Needham & Company LLC reissued a "buy" rating and set a $280.00 target price on shares of Fabrinet in a research note on Monday, March 17th. Rosenblatt Securities reiterated a "buy" rating and issued a $285.00 price objective on shares of Fabrinet in a report on Friday, March 14th. B. Riley upgraded Fabrinet from a "sell" rating to a "neutral" rating and decreased their target price for the company from $178.00 to $176.00 in a research report on Friday, April 4th. Finally, Barclays reduced their price objective on Fabrinet from $292.00 to $245.00 and set an "equal weight" rating for the company in a research note on Tuesday, February 4th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Fabrinet currently has a consensus rating of "Hold" and an average target price of $250.14.

Fabrinet Trading Down 8.6 %

NYSE:FN traded down $17.32 during trading hours on Thursday, hitting $184.59. The company had a trading volume of 147,953 shares, compared to its average volume of 599,745. Fabrinet has a 1 year low of $148.55 and a 1 year high of $281.79. The company has a 50-day moving average of $207.41 and a 200 day moving average of $227.36. The company has a market cap of $6.69 billion, a P/E ratio of 20.79 and a beta of 0.97.

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 analysts' consensus estimates 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 forecast that Fabrinet will post 9.4 earnings per share 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.