JPMorgan Chase & Co. Grows Stock Holdings in Fabrinet (NYSE:FN)

JPMorgan Chase & Co. boosted its holdings in shares of Fabrinet (NYSE:FN - Free Report) by 1.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 669,459 shares of the technology company's stock after buying an additional 9,058 shares during the period. JPMorgan Chase & Co. owned approximately 1.85% of Fabrinet worth $147,201,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. WINTON GROUP Ltd raised its position in shares of Fabrinet by 4.3% during the 4th quarter. WINTON GROUP Ltd now owns 4,800 shares of the technology company's stock valued at $1,055,000 after buying an additional 199 shares in the last quarter. EFG Asset Management North America Corp. bought a new position in Fabrinet in the fourth quarter valued at $1,726,000. Emerald Advisers LLC raised its position in Fabrinet by 32.0% during the fourth quarter. Emerald Advisers LLC now owns 123,001 shares of the technology company's stock valued at $27,045,000 after purchasing an additional 29,834 shares in the last quarter. Vanguard Group Inc. lifted its stake in Fabrinet by 2.8% during the fourth quarter. Vanguard Group Inc. now owns 4,137,579 shares of the technology company's stock worth $909,771,000 after purchasing an additional 113,186 shares during the last quarter. Finally, Bridge City Capital LLC boosted its holdings in shares of Fabrinet by 12.5% in the 4th quarter. Bridge City Capital LLC now owns 23,957 shares of the technology company's stock worth $5,268,000 after purchasing an additional 2,668 shares in the last quarter. 97.38% of the stock is currently owned by hedge funds and other institutional investors.

Fabrinet Stock Performance

Shares of NYSE FN traded down $1.45 during trading hours on Friday, hitting $171.11. The company's stock had a trading volume of 2,458,550 shares, compared to its average volume of 587,642. Fabrinet has a 12 month low of $148.55 and a 12 month high of $281.79. The stock has a market cap of $6.21 billion, a price-to-earnings ratio of 19.14 and a beta of 0.97. The business has a 50-day simple moving average of $209.73 and a 200-day simple moving average of $228.93.

Fabrinet (NYSE:FN - Get Free Report) last issued its quarterly earnings data on Monday, February 3rd. The technology company reported $2.38 earnings per share 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 research analysts forecast that Fabrinet will post 9.4 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Barclays decreased their price objective on Fabrinet from $292.00 to $245.00 and set an "equal weight" rating on the stock in a report on Tuesday, February 4th. Fox Advisors assumed coverage on shares of Fabrinet in a report on Tuesday, February 18th. They issued an "overweight" rating and a $270.00 price objective for the company. Rosenblatt Securities reaffirmed a "buy" rating and set a $285.00 target price on shares of Fabrinet in a report on Friday, March 14th. B. Riley upgraded shares of Fabrinet from a "sell" rating to a "neutral" rating and decreased their target price for the stock from $178.00 to $176.00 in a research report on Friday. Finally, JPMorgan Chase & Co. reduced their price objective on Fabrinet from $275.00 to $265.00 and set a "neutral" rating on the stock in a research note on Tuesday, February 4th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Fabrinet has a consensus rating of "Hold" and a consensus target price of $250.14.

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.