12,605 Shares in Fabrinet (NYSE:FN) Purchased by Polen Capital Management LLC

Polen Capital Management LLC purchased a new position in Fabrinet (NYSE:FN - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 12,605 shares of the technology company's stock, valued at approximately $2,772,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Huntington National Bank increased its stake in shares of Fabrinet by 70.4% in the third quarter. Huntington National Bank now owns 138 shares of the technology company's stock worth $33,000 after buying an additional 57 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in Fabrinet in the third quarter worth $52,000. Public Employees Retirement System of Ohio acquired a new position in Fabrinet in the third quarter worth $61,000. IFP Advisors Inc boosted its holdings in Fabrinet by 576.2% in the fourth 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. Finally, Wilmington Savings Fund Society FSB acquired a new position in Fabrinet in the third quarter worth $70,000. Institutional investors own 97.38% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on FN. Needham & Company LLC reaffirmed a "buy" rating and issued a $280.00 price objective on shares of Fabrinet in a report on Monday. Fox Advisors began coverage on shares of Fabrinet in a report on Tuesday, February 18th. They issued an "overweight" rating and a $270.00 price objective for the company. Barclays decreased their price objective 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. Rosenblatt Securities reissued a "buy" rating and set a $285.00 price target on shares of Fabrinet in a report on Friday, March 14th. Finally, B. Riley downgraded shares of Fabrinet from a "neutral" rating to a "sell" rating and reduced their price target for the company from $194.00 to $178.00 in a report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $246.63.

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Fabrinet Stock Performance

Shares of FN traded down $2.44 during midday trading on Thursday, hitting $222.08. 442,801 shares of the stock traded hands, compared to its average volume of 547,895. The firm has a market capitalization of $8.05 billion, a PE ratio of 24.84 and a beta of 0.89. The business's 50 day moving average price is $218.92 and its two-hundred day moving average price is $230.45. Fabrinet has a 1-year low of $159.69 and a 1-year high of $281.79.

Fabrinet (NYSE:FN - Get Free Report) last posted 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 return on equity of 18.48% and a net margin of 10.44%. As a group, equities research analysts forecast that Fabrinet will post 9.4 EPS for the current fiscal year.

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.