Magnetar Financial LLC Acquires New Holdings in Fabrinet (NYSE:FN)

Magnetar Financial LLC acquired a new stake in Fabrinet (NYSE:FN - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 1,505 shares of the technology company's stock, valued at approximately $331,000.

A number of other large investors have also recently bought and sold shares of the business. Cynosure Group LLC increased its stake in 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 acquiring an additional 51 shares during the period. Assetmark Inc. grew its holdings in shares of Fabrinet by 12.0% during the 4th quarter. Assetmark Inc. now owns 484 shares of the technology company's stock worth $106,000 after purchasing an additional 52 shares in the last quarter. CIBC Asset Management Inc increased its position in shares of Fabrinet by 5.7% during the fourth quarter. CIBC Asset Management Inc now owns 1,113 shares of the technology company's stock valued at $245,000 after purchasing an additional 60 shares during the period. Nations Financial Group Inc. IA ADV raised its stake in shares of Fabrinet by 2.4% in the fourth quarter. Nations Financial Group Inc. IA ADV now owns 2,941 shares of the technology company's stock valued at $647,000 after purchasing an additional 68 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its stake in shares of Fabrinet by 2.6% in the fourth quarter. Janney Montgomery Scott LLC now owns 3,279 shares of the technology company's stock valued at $721,000 after purchasing an additional 82 shares in the last quarter. 97.38% of the stock is currently owned by institutional investors.

Fabrinet Stock Performance

NYSE:FN traded down $1.58 on Thursday, hitting $207.17. 497,136 shares of the stock were exchanged, compared to its average volume of 549,259. Fabrinet has a 52 week low of $159.69 and a 52 week high of $281.79. The stock has a market capitalization of $7.51 billion, a price-to-earnings ratio of 23.17 and a beta of 0.89. The company's 50-day moving average price is $218.14 and its 200 day moving average price is $230.31.

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Fabrinet (NYSE:FN - Get Free Report) last announced its quarterly earnings data on Monday, February 3rd. The technology company reported $2.38 earnings per share for the quarter, missing the consensus estimate of $2.48 by ($0.10). Fabrinet had a net margin of 10.44% and a return on equity of 18.48%. As a group, equities research analysts predict that Fabrinet will post 9.4 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on FN shares. Rosenblatt Securities reiterated a "buy" rating and set a $285.00 target price on shares of Fabrinet in a research report on Friday, March 14th. JPMorgan Chase & Co. dropped their price target on Fabrinet from $275.00 to $265.00 and set a "neutral" rating for the company in a report on Tuesday, February 4th. Needham & Company LLC reiterated a "buy" rating and issued a $280.00 price objective on shares of Fabrinet in a research report on Monday, March 17th. Fox Advisors initiated coverage on Fabrinet in a report on Tuesday, February 18th. They set an "overweight" rating and a $270.00 target price on the stock. Finally, Barclays cut their price target on Fabrinet from $292.00 to $245.00 and set an "equal weight" rating for the company in a report on Tuesday, February 4th. One equities 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. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $250.43.

Fabrinet 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.