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

Franklin Resources Inc. boosted its holdings in shares of Fabrinet (NYSE:FN - Free Report) by 41.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 133,791 shares of the technology company's stock after buying an additional 39,076 shares during the period. Franklin Resources Inc. owned approximately 0.37% of Fabrinet worth $31,634,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wellington Management Group LLP lifted its stake in shares of Fabrinet by 1.7% in the 3rd quarter. Wellington Management Group LLP now owns 1,169,162 shares of the technology company's stock valued at $276,437,000 after purchasing an additional 19,677 shares during the period. Geode Capital Management LLC increased its position in Fabrinet by 7.6% during the third quarter. Geode Capital Management LLC now owns 986,813 shares of the technology company's stock worth $233,359,000 after buying an additional 69,554 shares during the last quarter. Whale Rock Capital Management LLC increased its holdings in shares of Fabrinet by 25.8% in the third 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 during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Fabrinet by 14.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 480,550 shares of the technology company's stock valued at $113,621,000 after purchasing an additional 61,491 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in Fabrinet by 4.1% in the second quarter. Bank of New York Mellon Corp now owns 314,665 shares of the technology company's stock valued at $77,027,000 after purchasing an additional 12,409 shares in the last quarter. 97.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

FN has been the topic of several research reports. B. Riley lowered shares of Fabrinet from a "neutral" rating to a "sell" rating and dropped their price objective for the company from $194.00 to $178.00 in a report on Wednesday, November 20th. Barclays assumed coverage on Fabrinet in a research note on Thursday, November 14th. They issued an "equal weight" rating and a $292.00 price objective for the company. Finally, Needham & Company LLC started coverage on Fabrinet in a research report on Tuesday, November 5th. They set a "buy" rating and a $280.00 target price on the stock. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Fabrinet has an average rating of "Hold" and a consensus target price of $252.14.

Fabrinet Price Performance

NYSE:FN traded down $8.89 during trading hours on Thursday, hitting $222.74. 536,604 shares of the company were exchanged, compared to its average volume of 496,909. The company's 50 day moving average price is $244.22 and its 200-day moving average price is $237.98. The stock has a market capitalization of $8.08 billion, a price-to-earnings ratio of 26.36 and a beta of 0.92. Fabrinet has a 52-week low of $159.69 and a 52-week high of $278.38.

Fabrinet (NYSE:FN - Get Free Report) last issued its quarterly earnings data on Monday, November 4th. The technology company reported $2.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.38 by $0.01. The business had revenue of $804.20 million during the quarter, compared to analysts' expectations of $771.24 million. Fabrinet had a return on equity of 18.08% and a net margin of 10.28%. The company's revenue for the quarter was up 17.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.78 EPS. On average, equities analysts predict that Fabrinet will post 9.1 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.