Harbor Capital Advisors Inc. Boosts Stock Position in Fabrinet (NYSE:FN)

Harbor Capital Advisors Inc. lifted its position in shares of Fabrinet (NYSE:FN - Free Report) by 33.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,901 shares of the technology company's stock after acquiring an additional 3,468 shares during the quarter. Harbor Capital Advisors Inc.'s holdings in Fabrinet were worth $3,057,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of FN. Barclays PLC lifted its holdings in Fabrinet by 304.6% during the third quarter. Barclays PLC now owns 69,128 shares of the technology company's stock valued at $16,345,000 after purchasing an additional 52,042 shares in the last quarter. nVerses Capital LLC acquired a new position in shares of Fabrinet during the 3rd quarter worth about $567,000. Charles Schwab Investment Management Inc. lifted 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 buying an additional 61,491 shares in the last quarter. Pathstone Holdings LLC boosted its holdings in Fabrinet by 40.7% in the 3rd quarter. Pathstone Holdings LLC now owns 8,219 shares of the technology company's stock worth $1,943,000 after buying an additional 2,378 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in Fabrinet during the 3rd quarter worth approximately $2,398,000. 97.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on FN. B. Riley downgraded Fabrinet from a "neutral" rating to a "sell" rating and decreased their target price for the company from $194.00 to $178.00 in a research 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 began coverage on shares of Fabrinet in a research note on Tuesday, November 5th. They set a "buy" rating and a $280.00 target price on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $252.14.

Fabrinet Trading Down 2.1 %

NYSE FN traded down $4.88 on Friday, reaching $228.67. 500,031 shares of the company were exchanged, compared to its average volume of 370,920. The business's fifty day moving average price is $234.92 and its 200 day moving average price is $235.85. The stock has a market capitalization of $8.29 billion, a P/E ratio of 27.06 and a beta of 0.93. Fabrinet has a fifty-two week low of $159.69 and a fifty-two week high of $278.38.

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

Fabrinet Company Profile

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.