Raymond James Financial Inc. Acquires New Shares in Fabrinet (NYSE:FN)

Raymond James Financial Inc. acquired a new stake in shares of Fabrinet (NYSE:FN - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 112,993 shares of the technology company's stock, valued at approximately $24,844,000. Raymond James Financial Inc. owned approximately 0.31% of Fabrinet at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Barclays PLC grew its stake in shares of Fabrinet by 304.6% during the third quarter. Barclays PLC now owns 69,128 shares of the technology company's stock valued at $16,345,000 after buying an additional 52,042 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Fabrinet by 14.7% during 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 acquiring an additional 61,491 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in Fabrinet during the 3rd quarter worth approximately $2,398,000. Pathstone Holdings LLC increased its stake in Fabrinet by 40.7% in the 3rd quarter. Pathstone Holdings LLC now owns 8,219 shares of the technology company's stock worth $1,943,000 after purchasing an additional 2,378 shares during the period. Finally, Freedom Investment Management Inc. lifted its position in Fabrinet by 106.2% in the third quarter. Freedom Investment Management Inc. now owns 4,969 shares of the technology company's stock valued at $1,175,000 after purchasing an additional 2,559 shares during the last quarter. 97.38% of the stock is owned by hedge funds and other institutional investors.

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Analyst Upgrades and Downgrades

FN has been the topic of several recent analyst reports. Barclays cut their target price on shares of Fabrinet from $292.00 to $245.00 and set an "equal weight" rating on the stock in a report on Tuesday, February 4th. JPMorgan Chase & Co. reduced their price objective on shares of Fabrinet from $275.00 to $265.00 and set a "neutral" rating on the stock in a research report on Tuesday, February 4th. Fox Advisors started coverage on shares of Fabrinet in a research note on Tuesday, February 18th. They set an "overweight" rating and a $270.00 target price on the stock. Needham & Company LLC reiterated a "buy" rating and set a $280.00 price target on shares of Fabrinet in a research report on Monday. Finally, B. Riley lowered shares of Fabrinet from a "neutral" rating to a "sell" rating and lowered their price objective for the stock 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 issued a buy rating to the company. According to MarketBeat.com, Fabrinet currently has a consensus rating of "Hold" and an average target price of $246.63.

Fabrinet Trading Up 1.0 %

Fabrinet stock traded up $2.21 during mid-day trading on Wednesday, hitting $225.07. The company had a trading volume of 455,364 shares, compared to its average volume of 778,701. Fabrinet has a 12 month low of $159.69 and a 12 month high of $281.79. The company has a market capitalization of $8.16 billion, a PE ratio of 25.18 and a beta of 0.89. The stock's 50 day moving average price is $219.08 and its two-hundred day moving average price is $230.48.

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

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.