Fabrinet (NYSE:FN) Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. lifted its position in Fabrinet (NYSE:FN - Free Report) by 3.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 660,401 shares of the technology company's stock after buying an additional 24,439 shares during the quarter. JPMorgan Chase & Co. owned approximately 1.82% of Fabrinet worth $156,145,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Huntington National Bank lifted its holdings in Fabrinet by 70.4% during the 3rd quarter. Huntington National Bank now owns 138 shares of the technology company's stock worth $33,000 after buying an additional 57 shares in the last quarter. Banque Cantonale Vaudoise acquired a new stake in shares of Fabrinet in the second quarter valued at $35,000. Kimelman & Baird LLC acquired a new stake in shares of Fabrinet in the second quarter valued at $49,000. NBC Securities Inc. boosted its holdings in Fabrinet by 732.0% in the third quarter. NBC Securities Inc. now owns 208 shares of the technology company's stock valued at $49,000 after purchasing an additional 183 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Fabrinet during the 3rd quarter worth $52,000. Institutional investors and hedge funds own 97.38% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on FN shares. Needham & Company LLC initiated coverage on shares of Fabrinet in a research note on Tuesday, November 5th. They issued a "buy" rating and a $280.00 price target for the company. B. Riley lowered shares of Fabrinet from a "neutral" rating to a "sell" rating and reduced their price objective for the company from $194.00 to $178.00 in a report on Wednesday, November 20th. Finally, Barclays assumed coverage on shares of Fabrinet in a research note on Thursday, November 14th. They set an "equal weight" rating and a $292.00 target price for the company. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $252.14.

Fabrinet Stock Performance

NYSE FN traded up $5.12 during trading on Wednesday, reaching $219.88. The company's stock had a trading volume of 416,107 shares, compared to its average volume of 493,455. The firm has a market cap of $7.97 billion, a price-to-earnings ratio of 26.02 and a beta of 0.92. Fabrinet has a twelve month low of $159.69 and a twelve month high of $278.38. The business's fifty day moving average price is $237.27 and its 200-day moving average price is $236.78.

Fabrinet (NYSE:FN - Get Free Report) last issued its quarterly earnings results on Monday, November 4th. The technology company reported $2.39 earnings per share for the quarter, topping the consensus estimate of $2.38 by $0.01. The firm had revenue of $804.20 million during the quarter, compared to the consensus estimate of $771.24 million. Fabrinet had a return on equity of 18.08% and a net margin of 10.28%. The company's revenue for the quarter was up 17.3% on a year-over-year basis. During the same period last year, the company earned $1.78 earnings per share. As a group, sell-side analysts forecast that Fabrinet will post 9.1 EPS for the current fiscal year.

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.