Handelsbanken Fonder AB grew its holdings in shares of Fabrinet (NYSE:FN - Free Report) by 21.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,866 shares of the technology company's stock after acquiring an additional 1,900 shares during the period. Handelsbanken Fonder AB's holdings in Fabrinet were worth $2,389,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Blue Trust Inc. grew its position in shares of Fabrinet by 249.2% during the third quarter. Blue Trust Inc. now owns 426 shares of the technology company's stock worth $104,000 after buying an additional 304 shares in the last quarter. Raymond James & Associates boosted its stake in Fabrinet by 8.5% during the 3rd quarter. Raymond James & Associates now owns 21,746 shares of the technology company's stock valued at $5,142,000 after acquiring an additional 1,708 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in Fabrinet by 13.8% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 4,003 shares of the technology company's stock worth $946,000 after acquiring an additional 484 shares in the last quarter. DekaBank Deutsche Girozentrale increased its position in shares of Fabrinet by 3,831.4% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 82,088 shares of the technology company's stock worth $19,465,000 after purchasing an additional 80,000 shares during the last quarter. Finally, Oak Ridge Investments LLC acquired a new stake in shares of Fabrinet in the 3rd quarter valued at about $2,661,000. 97.38% of the stock is owned by hedge funds and other institutional investors.
Fabrinet Stock Performance
Shares of FN traded up $3.97 during midday trading on Friday, hitting $199.19. 760,426 shares of the stock traded hands, compared to its average volume of 713,787. The business's 50 day moving average price is $224.34 and its two-hundred day moving average price is $234.25. The firm has a market capitalization of $7.22 billion, a PE ratio of 22.28 and a beta of 0.92. Fabrinet has a 1-year low of $159.69 and a 1-year high of $281.79.
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 the consensus estimate of $2.48 by ($0.10). Fabrinet had a return on equity of 18.48% and a net margin of 10.44%. As a group, equities research analysts forecast that Fabrinet will post 9.4 EPS for the current fiscal year.
Analyst Ratings Changes
A number of research firms recently commented on FN. JPMorgan Chase & Co. decreased their price target 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 reiterated a "buy" rating and issued a $280.00 price target on shares of Fabrinet in a report on Tuesday, February 4th. Rosenblatt Securities upped their price target on Fabrinet from $280.00 to $285.00 and gave the company a "buy" rating in a research report on Tuesday, February 4th. B. Riley downgraded shares of Fabrinet from a "neutral" rating to a "sell" rating and decreased their price objective for the stock from $194.00 to $178.00 in a report on Wednesday, November 20th. Finally, Barclays lowered their target price on shares of Fabrinet from $292.00 to $245.00 and set an "equal weight" rating for the company in a research note on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $246.63.
Check Out Our Latest Research Report on FN
About Fabrinet
(
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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