Mariner LLC Purchases 5,081 Shares of Fabrinet (NYSE:FN)

Mariner LLC increased its position in shares of Fabrinet (NYSE:FN - Free Report) by 129.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,010 shares of the technology company's stock after purchasing an additional 5,081 shares during the quarter. Mariner LLC's holdings in Fabrinet were worth $1,981,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Huntington National Bank increased its position in Fabrinet by 66.7% in the 4th quarter. Huntington National Bank now owns 230 shares of the technology company's stock valued at $51,000 after acquiring an additional 92 shares in the last quarter. IFP Advisors Inc grew its stake in shares of Fabrinet by 576.2% during the fourth quarter. IFP Advisors Inc now owns 284 shares of the technology company's stock valued at $63,000 after purchasing an additional 242 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Fabrinet in the third quarter valued at approximately $70,000. Assetmark Inc. raised its position in Fabrinet by 12.0% in the 4th quarter. Assetmark Inc. now owns 484 shares of the technology company's stock worth $106,000 after purchasing an additional 52 shares during the last quarter. Finally, Transamerica Financial Advisors Inc. lifted its holdings in Fabrinet by 17.2% during the 4th quarter. Transamerica Financial Advisors Inc. now owns 565 shares of the technology company's stock worth $125,000 after buying an additional 83 shares in the last quarter. 97.38% of the stock is owned by institutional investors.

Fabrinet Trading Up 0.8 %

Shares of FN stock traded up $1.54 on Friday, hitting $200.54. The stock had a trading volume of 399,025 shares, compared to its average volume of 614,359. Fabrinet has a twelve month low of $148.55 and a twelve month high of $281.79. The company has a fifty day moving average price of $199.99 and a two-hundred day moving average price of $223.12. The firm has a market cap of $7.19 billion, a P/E ratio of 22.43 and a beta of 0.97.

Fabrinet (NYSE:FN - Get Free Report) last released 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%. On average, analysts expect that Fabrinet will post 9.4 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on FN. Rosenblatt Securities decreased their price target on Fabrinet from $280.00 to $230.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. B. Riley raised shares of Fabrinet from a "sell" rating to a "neutral" rating and reduced their price objective for the company from $178.00 to $176.00 in a research note on Friday, April 4th. Barclays lowered their target price on shares of Fabrinet from $292.00 to $245.00 and set an "equal weight" rating for the company in a report on Tuesday, February 4th. JPMorgan Chase & Co. cut their price target on Fabrinet from $265.00 to $220.00 and set a "neutral" rating on the stock in a research note on Thursday, April 17th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $280.00 price objective on shares of Fabrinet in a research note on Monday, March 17th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, Fabrinet currently has an average rating of "Hold" and an average target price of $235.86.

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.