Fabrinet (NYSE:FN) Shares Purchased by Jennison Associates LLC

Jennison Associates LLC lifted its stake in shares of Fabrinet (NYSE:FN - Free Report) by 81.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,724 shares of the technology company's stock after buying an additional 2,573 shares during the period. Jennison Associates LLC's holdings in Fabrinet were worth $1,259,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Wedge Capital Management L L P NC acquired a new stake in Fabrinet during the 4th quarter valued at approximately $63,222,000. Whale Rock Capital Management LLC lifted its position in Fabrinet by 25.8% during the third quarter. Whale Rock Capital Management LLC now owns 855,767 shares of the technology company's stock valued at $202,338,000 after purchasing an additional 175,684 shares during the period. World Investment Advisors LLC purchased a new stake in Fabrinet in the third quarter valued at $20,187,000. DekaBank Deutsche Girozentrale grew its position in Fabrinet by 3,831.4% during 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 period. Finally, Geode Capital Management LLC grew its position in Fabrinet by 7.6% during the 3rd quarter. Geode Capital Management LLC now owns 986,813 shares of the technology company's stock worth $233,359,000 after purchasing an additional 69,554 shares during the period. 97.38% of the stock is owned by hedge funds and other institutional investors.

Fabrinet Price Performance

NYSE FN traded down $1.07 on Monday, hitting $210.99. The company had a trading volume of 468,329 shares, compared to its average volume of 750,524. The company has a market capitalization of $7.65 billion, a PE ratio of 23.60 and a beta of 0.92. Fabrinet has a 12-month low of $159.69 and a 12-month high of $281.79. The company's fifty day moving average price is $229.66 and its 200-day moving average price is $233.72.

Fabrinet (NYSE:FN - Get Free Report) last released 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, sell-side analysts anticipate that Fabrinet will post 9.4 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. B. Riley downgraded Fabrinet from a "neutral" rating to a "sell" rating and lowered their target price for the stock from $194.00 to $178.00 in a research note on Wednesday, November 20th. Needham & Company LLC restated a "buy" rating and issued a $280.00 price objective on shares of Fabrinet in a research report on Tuesday, February 4th. JPMorgan Chase & Co. cut their target price on shares of Fabrinet from $275.00 to $265.00 and set a "neutral" rating for the company in a report on Tuesday, February 4th. Rosenblatt Securities boosted their target price on shares of Fabrinet from $280.00 to $285.00 and gave the company a "buy" rating in a research note on Tuesday, February 4th. Finally, Barclays dropped their price target on shares of Fabrinet from $292.00 to $245.00 and set an "equal weight" rating on the stock in a research report on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, Fabrinet presently has an average rating of "Hold" and a consensus price target of $243.29.

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.