Grantham Mayo Van Otterloo & Co. LLC boosted its holdings in shares of Fabrinet (NYSE:FN - Free Report) by 42.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 43,102 shares of the technology company's stock after buying an additional 12,917 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC owned approximately 0.12% of Fabrinet worth $9,477,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Huntington National Bank raised its stake in shares of Fabrinet by 66.7% in the fourth quarter. Huntington National Bank now owns 230 shares of the technology company's stock worth $51,000 after buying an additional 92 shares during the period. 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 bought a new stake in Fabrinet during the 3rd quarter worth approximately $61,000. IFP Advisors Inc lifted its holdings in Fabrinet by 576.2% during the fourth quarter. IFP Advisors Inc now owns 284 shares of the technology company's stock valued at $63,000 after purchasing an additional 242 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Fabrinet in the third quarter worth approximately $70,000. 97.38% of the stock is owned by hedge funds and other institutional investors.
Fabrinet Trading Up 3.4 %
Shares of NYSE:FN traded up $6.30 during mid-day trading on Friday, reaching $189.10. The stock had a trading volume of 751,486 shares, compared to its average volume of 602,274. The business's 50 day moving average price is $206.17 and its 200 day moving average price is $226.76. Fabrinet has a 1 year low of $148.55 and a 1 year high of $281.79. The company has a market cap of $6.86 billion, a P/E ratio of 21.15 and a beta of 0.97.
Fabrinet (NYSE:FN - Get Free Report) last posted 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 net margin of 10.44% and a return on equity of 18.48%. Analysts predict that Fabrinet will post 9.4 earnings per share for the current fiscal year.
Analyst Ratings Changes
A number of research analysts recently weighed in on the stock. Barclays lowered their target price on shares of Fabrinet from $292.00 to $245.00 and set an "equal weight" rating on the stock in a research note on Tuesday, February 4th. B. Riley upgraded 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 report on Friday, April 4th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $285.00 price objective on shares of Fabrinet in a research note on Friday, March 14th. JPMorgan Chase & Co. decreased their target price on Fabrinet from $275.00 to $265.00 and set a "neutral" rating on the stock in a research note on Tuesday, February 4th. Finally, Needham & Company LLC restated a "buy" rating and issued a $280.00 price target on shares of Fabrinet in a research note on Monday, March 17th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $250.14.
View Our Latest Stock Analysis on FN
Fabrinet Company 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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