Nebula Research & Development LLC Grows Position in Fabrinet (NYSE:FN)

Nebula Research & Development LLC lifted its position in shares of Fabrinet (NYSE:FN - Free Report) by 124.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,888 shares of the technology company's stock after acquiring an additional 6,603 shares during the period. Nebula Research & Development LLC's holdings in Fabrinet were worth $2,614,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Huntington National Bank grew its position in Fabrinet by 66.7% in the 4th quarter. Huntington National Bank now owns 230 shares of the technology company's stock worth $51,000 after purchasing an additional 92 shares during the period. IFP Advisors Inc grew its position in Fabrinet by 576.2% in the 4th quarter. IFP Advisors Inc now owns 284 shares of the technology company's stock worth $63,000 after purchasing an additional 242 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in Fabrinet in the 3rd quarter worth approximately $70,000. Assetmark Inc. grew 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 period. Finally, Transamerica Financial Advisors Inc. grew its position in Fabrinet by 17.2% in the 4th quarter. Transamerica Financial Advisors Inc. now owns 565 shares of the technology company's stock worth $125,000 after purchasing an additional 83 shares during the period. Institutional investors own 97.38% of the company's stock.

Analysts Set New Price Targets

FN has been the subject of a number of research analyst reports. JPMorgan Chase & Co. cut their target price on shares of Fabrinet from $265.00 to $220.00 and set a "neutral" rating for the company in a research report on Thursday, April 17th. Barclays cut their price objective on shares of Fabrinet from $292.00 to $245.00 and set an "equal weight" rating for the company in a research report on Tuesday, February 4th. Needham & Company LLC reaffirmed a "buy" rating and issued a $280.00 target price on shares of Fabrinet in a report on Monday, March 17th. Fox Advisors started coverage on Fabrinet in a research note on Tuesday, February 18th. They issued an "overweight" rating and a $270.00 price objective on the stock. Finally, B. Riley raised Fabrinet from a "sell" rating to a "neutral" rating and decreased their price objective for the stock from $178.00 to $176.00 in a research note on Friday, April 4th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, Fabrinet currently has a consensus rating of "Hold" and an average target price of $235.86.

Fabrinet Trading Up 1.4 %

FN traded up $2.77 on Monday, hitting $203.32. 440,038 shares of the company's stock traded hands, compared to its average volume of 613,662. The company's 50 day simple moving average is $199.99 and its 200-day simple moving average is $222.91. The firm has a market cap of $7.28 billion, a price-to-earnings ratio of 22.74 and a beta of 0.97. Fabrinet has a one year low of $148.55 and a one year high of $281.79.

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

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.