Fabrinet (NYSE:FN) Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC lifted its position in Fabrinet (NYSE:FN - Free Report) by 2.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,006,858 shares of the technology company's stock after purchasing an additional 20,045 shares during the quarter. Geode Capital Management LLC owned about 2.78% of Fabrinet worth $221,430,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Assetmark Inc. increased its stake 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 acquiring an additional 52 shares during the last quarter. CIBC Asset Management Inc raised its holdings in Fabrinet by 5.7% during the 4th quarter. CIBC Asset Management Inc now owns 1,113 shares of the technology company's stock valued at $245,000 after buying an additional 60 shares during the period. Nations Financial Group Inc. IA ADV boosted its stake in Fabrinet by 2.4% during the fourth quarter. Nations Financial Group Inc. IA ADV now owns 2,941 shares of the technology company's stock worth $647,000 after buying an additional 68 shares during the period. Janney Montgomery Scott LLC increased its position in Fabrinet by 2.6% during the fourth quarter. Janney Montgomery Scott LLC now owns 3,279 shares of the technology company's stock valued at $721,000 after acquiring an additional 82 shares during the last quarter. Finally, Transamerica Financial Advisors Inc. raised its stake in shares of Fabrinet by 17.2% in the fourth quarter. Transamerica Financial Advisors Inc. now owns 565 shares of the technology company's stock valued at $125,000 after acquiring an additional 83 shares during the period. 97.38% of the stock is currently owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

FN has been the topic of several analyst reports. Barclays cut their price target 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. B. Riley raised Fabrinet from a "sell" rating to a "neutral" rating and cut their target price for the company from $178.00 to $176.00 in a research note on Friday, April 4th. Needham & Company LLC restated a "buy" rating and set a $280.00 price objective on shares of Fabrinet in a report on Monday, March 17th. Fox Advisors began coverage on Fabrinet in a research note on Tuesday, February 18th. They issued an "overweight" rating and a $270.00 target price on the stock. Finally, Rosenblatt Securities reissued a "buy" rating and set a $285.00 target price on shares of Fabrinet in a research note on Friday, March 14th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $250.14.

Fabrinet Stock Down 9.9 %

NYSE:FN traded down $20.05 during mid-day trading on Thursday, reaching $181.85. The company's stock had a trading volume of 200,491 shares, compared to its average volume of 836,691. The firm has a market capitalization of $6.60 billion, a PE ratio of 20.41 and a beta of 0.97. The stock has a fifty day moving average of $207.41 and a 200-day moving average of $227.36. Fabrinet has a 1 year low of $148.55 and a 1 year high of $281.79.

Fabrinet (NYSE:FN - Get Free Report) last announced its earnings results on Monday, February 3rd. The technology company reported $2.38 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, analysts expect 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.