Fabrinet (NYSE:FN) Shares Acquired by HighTower Advisors LLC

HighTower Advisors LLC boosted its position in Fabrinet (NYSE:FN - Free Report) by 94.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,431 shares of the technology company's stock after purchasing an additional 3,608 shares during the period. HighTower Advisors LLC's holdings in Fabrinet were worth $1,634,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Cynosure Group LLC boosted its stake in shares of Fabrinet by 3.4% during the third quarter. Cynosure Group LLC now owns 1,560 shares of the technology company's stock valued at $369,000 after purchasing an additional 51 shares during the period. Assetmark Inc. boosted its position in Fabrinet by 12.0% in the 4th quarter. Assetmark Inc. now owns 484 shares of the technology company's stock valued at $106,000 after buying an additional 52 shares during the period. CIBC Asset Management Inc boosted its position in Fabrinet by 5.7% in 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 grew its stake in Fabrinet by 2.4% in the 4th quarter. Nations Financial Group Inc. IA ADV now owns 2,941 shares of the technology company's stock worth $647,000 after acquiring an additional 68 shares in the last quarter. Finally, Janney Montgomery Scott LLC increased its position in shares of Fabrinet by 2.6% during the fourth quarter. Janney Montgomery Scott LLC now owns 3,279 shares of the technology company's stock worth $721,000 after acquiring an additional 82 shares during the period. Institutional investors own 97.38% of the company's stock.

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Fabrinet Stock Down 5.3 %

Shares of NYSE FN traded down $11.02 during mid-day trading on Friday, reaching $195.58. 895,717 shares of the company were exchanged, compared to its average volume of 570,037. Fabrinet has a 1 year low of $159.69 and a 1 year high of $281.79. The firm has a 50-day moving average of $217.58 and a 200 day moving average of $230.15. The stock has a market cap of $7.09 billion, a price-to-earnings ratio of 21.88 and a beta of 0.89.

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, equities analysts forecast that Fabrinet will post 9.4 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently issued reports on FN shares. Needham & Company LLC reissued a "buy" rating and issued a $280.00 price objective on shares of Fabrinet in a research note on Monday, March 17th. JPMorgan Chase & Co. dropped their price target on Fabrinet from $275.00 to $265.00 and set a "neutral" rating on the stock in a research report on Tuesday, February 4th. Rosenblatt Securities restated a "buy" rating and set a $285.00 price target on shares of Fabrinet in a research note on Friday, March 14th. Fox Advisors assumed coverage on shares of Fabrinet in a research note on Tuesday, February 18th. They issued an "overweight" rating and a $270.00 price objective for the company. Finally, Barclays dropped their target price 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. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $250.43.

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.