Salem Investment Counselors Inc. bought a new stake in shares of Fabrinet (NYSE:FN - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 2,355 shares of the technology company's stock, valued at approximately $518,000.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Wellington Management Group LLP lifted its holdings in shares of Fabrinet by 1.7% in the third quarter. Wellington Management Group LLP now owns 1,169,162 shares of the technology company's stock worth $276,437,000 after buying an additional 19,677 shares in the last quarter. Geode Capital Management LLC raised its position in Fabrinet by 7.6% in the 3rd quarter. Geode Capital Management LLC now owns 986,813 shares of the technology company's stock worth $233,359,000 after purchasing an additional 69,554 shares during the period. Whale Rock Capital Management LLC lifted its stake in shares of Fabrinet by 25.8% during the 3rd quarter. Whale Rock Capital Management LLC now owns 855,767 shares of the technology company's stock worth $202,338,000 after acquiring an additional 175,684 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Fabrinet by 3.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 660,401 shares of the technology company's stock valued at $156,145,000 after buying an additional 24,439 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Fabrinet by 14.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 480,550 shares of the technology company's stock worth $113,621,000 after purchasing an additional 61,491 shares in the last quarter. 97.38% of the stock is currently owned by hedge funds and other institutional investors.
Fabrinet Price Performance
NYSE FN traded up $4.65 during trading hours on Tuesday, reaching $226.42. The company's stock had a trading volume of 133,656 shares, compared to its average volume of 344,334. The firm has a market capitalization of $8.21 billion, a price-to-earnings ratio of 26.80 and a beta of 0.93. The company's 50-day moving average is $234.57 and its two-hundred day moving average is $235.68. Fabrinet has a 1-year low of $159.69 and a 1-year high of $278.38.
Fabrinet (NYSE:FN - Get Free Report) last posted its quarterly earnings results on Monday, November 4th. The technology company reported $2.39 earnings per share for the quarter, topping the consensus estimate of $2.38 by $0.01. The firm had revenue of $804.20 million for the quarter, compared to the consensus estimate of $771.24 million. Fabrinet had a net margin of 10.28% and a return on equity of 18.08%. The company's revenue for the quarter was up 17.3% on a year-over-year basis. During the same period last year, the firm posted $1.78 earnings per share. Equities analysts forecast that Fabrinet will post 9.1 EPS for the current fiscal year.
Wall Street Analyst Weigh In
FN has been the topic of several research reports. Needham & Company LLC started coverage on shares of Fabrinet in a report on Tuesday, November 5th. They set a "buy" rating and a $280.00 price objective on the stock. B. Riley lowered Fabrinet from a "neutral" rating to a "sell" rating and decreased their price objective for the company from $194.00 to $178.00 in a report on Wednesday, November 20th. Finally, Barclays initiated coverage on shares of Fabrinet in a report on Thursday, November 14th. They set an "equal weight" rating and a $292.00 price objective on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, Fabrinet currently has a consensus rating of "Hold" and a consensus price target of $252.14.
Check Out Our Latest Analysis on Fabrinet
Fabrinet Profile
(
Free Report)
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.
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