MML Investors Services LLC Has $3.41 Million Position in Fabrinet (NYSE:FN)

MML Investors Services LLC increased its holdings in shares of Fabrinet (NYSE:FN - Free Report) by 41.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,411 shares of the technology company's stock after acquiring an additional 4,203 shares during the quarter. MML Investors Services LLC's holdings in Fabrinet were worth $3,407,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Wellington Management Group LLP increased its holdings in shares of Fabrinet by 1.7% in the third quarter. Wellington Management Group LLP now owns 1,169,162 shares of the technology company's stock valued at $276,437,000 after purchasing an additional 19,677 shares during the last quarter. Whale Rock Capital Management LLC grew its stake in Fabrinet by 25.8% in the 3rd quarter. Whale Rock Capital Management LLC now owns 855,767 shares of the technology company's stock valued at $202,338,000 after buying an additional 175,684 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Fabrinet by 14.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 480,550 shares of the technology company's stock valued at $113,621,000 after buying an additional 61,491 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Fabrinet by 4.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 314,665 shares of the technology company's stock valued at $77,027,000 after acquiring an additional 12,409 shares during the period. Finally, Epoch Investment Partners Inc. lifted its position in Fabrinet by 9.6% during the second quarter. Epoch Investment Partners Inc. now owns 302,006 shares of the technology company's stock worth $73,928,000 after acquiring an additional 26,475 shares during the last quarter. Institutional investors own 97.38% of the company's stock.

Fabrinet Price Performance

FN stock traded up $2.04 during midday trading on Friday, reaching $247.86. The company had a trading volume of 358,470 shares, compared to its average volume of 495,274. Fabrinet has a 1-year low of $159.69 and a 1-year high of $278.38. The stock has a 50 day moving average price of $245.00 and a 200-day moving average price of $238.16. The company has a market capitalization of $8.99 billion, a price-to-earnings ratio of 29.33 and a beta of 0.92.

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. JPMorgan Chase & Co. upped their target price on Fabrinet from $240.00 to $285.00 and gave the company a "neutral" rating in a research report on Tuesday, August 20th. Barclays started coverage on Fabrinet in a research report on Thursday, November 14th. They set an "equal weight" rating and a $292.00 price objective on the stock. Rosenblatt Securities boosted their target price on shares of Fabrinet from $260.00 to $280.00 and gave the company a "buy" rating in a research report on Tuesday, August 20th. B. Riley lowered shares of Fabrinet from a "neutral" rating to a "sell" rating and lowered their price target for the stock from $194.00 to $178.00 in a research report on Wednesday, November 20th. Finally, 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 objective for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have issued 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 $252.14.

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.