Fabrinet (NYSE:FN) Shares Purchased by Rhumbline Advisers

Rhumbline Advisers raised its position in Fabrinet (NYSE:FN - Free Report) by 2.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 111,934 shares of the technology company's stock after purchasing an additional 2,440 shares during the period. Rhumbline Advisers owned 0.31% of Fabrinet worth $24,612,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the company. Barclays PLC grew its position in shares of Fabrinet by 304.6% in the 3rd 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. grew its position in shares of 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. Dynamic Technology Lab Private Ltd purchased a new position in shares of Fabrinet in the 3rd quarter valued at $2,398,000. Pathstone Holdings LLC grew its position in shares of Fabrinet by 40.7% in the 3rd quarter. Pathstone Holdings LLC now owns 8,219 shares of the technology company's stock valued at $1,943,000 after buying an additional 2,378 shares during the last quarter. Finally, Freedom Investment Management Inc. grew its position in shares of Fabrinet by 106.2% in the 3rd quarter. Freedom Investment Management Inc. now owns 4,969 shares of the technology company's stock valued at $1,175,000 after buying an additional 2,559 shares during the last quarter. 97.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on FN. B. Riley downgraded shares of Fabrinet from a "neutral" rating to a "sell" rating and dropped their target price for the company from $194.00 to $178.00 in a research report on Wednesday, November 20th. JPMorgan Chase & Co. decreased their price target on shares of Fabrinet from $275.00 to $265.00 and set a "neutral" rating for the company in a research note on Tuesday, February 4th. Fox Advisors began coverage on shares of Fabrinet in a research note on Tuesday. They set an "overweight" rating and a $270.00 price target for the company. Barclays decreased their price target on shares of Fabrinet from $292.00 to $245.00 and set an "equal weight" rating for the company in a research note on Tuesday, February 4th. Finally, Rosenblatt Securities increased their price target on shares of Fabrinet from $280.00 to $285.00 and gave the stock a "buy" rating in a research note on Tuesday, February 4th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $246.63.

Fabrinet Price Performance

Shares of FN stock traded down $7.33 during mid-day trading on Friday, hitting $223.34. The stock had a trading volume of 240,395 shares, compared to its average volume of 709,302. Fabrinet has a fifty-two week low of $159.69 and a fifty-two week high of $281.79. The firm has a market cap of $8.10 billion, a PE ratio of 24.86 and a beta of 0.92. The company's 50-day simple moving average is $226.73 and its 200-day simple moving average is $233.90.

Fabrinet (NYSE:FN - Get Free Report) last released its earnings results on Monday, February 3rd. The technology company reported $2.38 EPS 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%. On average, analysts expect that Fabrinet will post 9.4 EPS for the current 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.