Renaissance Technologies LLC Buys 4,300 Shares of Fabrinet (NYSE:FN)

Renaissance Technologies LLC increased its holdings in Fabrinet (NYSE:FN - Free Report) by 8.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 57,200 shares of the technology company's stock after acquiring an additional 4,300 shares during the quarter. Renaissance Technologies LLC owned about 0.16% of Fabrinet worth $12,577,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently modified their holdings of the stock. Assetmark Inc. grew its holdings in shares of Fabrinet by 12.0% during the 4th quarter. Assetmark Inc. now owns 484 shares of the technology company's stock worth $106,000 after acquiring an additional 52 shares during the period. CIBC Asset Management Inc raised its holdings in Fabrinet by 5.7% in the fourth quarter. CIBC Asset Management Inc now owns 1,113 shares of the technology company's stock worth $245,000 after purchasing an additional 60 shares in the last quarter. Nations Financial Group Inc. IA ADV boosted its holdings in shares of Fabrinet by 2.4% during the 4th quarter. Nations Financial Group Inc. IA ADV now owns 2,941 shares of the technology company's stock valued at $647,000 after buying an additional 68 shares in the last quarter. Janney Montgomery Scott LLC grew its position in shares of Fabrinet by 2.6% in the 4th quarter. Janney Montgomery Scott LLC now owns 3,279 shares of the technology company's stock worth $721,000 after buying an additional 82 shares during the period. Finally, Transamerica Financial Advisors Inc. increased its stake in shares of 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 acquiring an additional 83 shares in the last quarter. Institutional investors own 97.38% of the company's stock.

Fabrinet Stock Performance

Shares of NYSE FN traded down $3.08 during midday trading on Friday, hitting $183.63. 425,242 shares of the stock traded hands, compared to its average volume of 605,850. The firm has a market capitalization of $6.58 billion, a P/E ratio of 20.54 and a beta of 0.97. Fabrinet has a one year low of $148.55 and a one year high of $281.79. The firm has a 50-day moving average of $203.97 and a two-hundred day moving average of $225.44.

Fabrinet (NYSE:FN - Get Free Report) last released 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 net margin of 10.44% and a return on equity of 18.48%. Equities analysts forecast that Fabrinet will post 9.4 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on FN shares. JPMorgan Chase & Co. cut their price objective on shares of Fabrinet from $265.00 to $220.00 and set a "neutral" rating on the stock in a report on Thursday. B. Riley raised shares of Fabrinet from a "sell" rating to a "neutral" rating and cut their price objective for the company from $178.00 to $176.00 in a research report on Friday, April 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. Barclays cut their price target 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. Finally, Rosenblatt Securities restated a "buy" rating and issued a $285.00 price objective on shares of Fabrinet in a report on Friday, March 14th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $243.71.

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.