Schroder Investment Management Group Raises Stake in Fabrinet (NYSE:FN)

Schroder Investment Management Group grew its stake in Fabrinet (NYSE:FN - Free Report) by 85.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 82,629 shares of the technology company's stock after acquiring an additional 38,100 shares during the quarter. Schroder Investment Management Group owned about 0.23% of Fabrinet worth $17,745,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Fabrinet during the third quarter worth about $52,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Fabrinet during the 3rd quarter worth approximately $61,000. IFP Advisors Inc raised its position in shares of Fabrinet by 576.2% during the 4th quarter. IFP Advisors Inc now owns 284 shares of the technology company's stock valued at $63,000 after buying an additional 242 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in Fabrinet in the third quarter valued at approximately $70,000. Finally, Assetmark Inc. grew its position in Fabrinet by 12.0% in the fourth 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. Hedge funds and other institutional investors own 97.38% of the company's stock.

Fabrinet Stock Performance

Shares of FN traded up $7.71 during mid-day trading on Monday, hitting $178.74. 1,903,212 shares of the company's stock were exchanged, compared to its average volume of 592,884. The company has a market cap of $6.48 billion, a price-to-earnings ratio of 19.99 and a beta of 0.97. The stock's 50-day moving average is $209.27 and its 200-day moving average is $228.54. Fabrinet has a fifty-two week low of $148.55 and a fifty-two week high of $281.79.

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

Analyst Ratings Changes

Several brokerages have recently commented on FN. Fox Advisors began coverage on Fabrinet in a research note on Tuesday, February 18th. They issued an "overweight" rating and a $270.00 price target on the stock. Barclays decreased their target price on shares of Fabrinet from $292.00 to $245.00 and set an "equal weight" rating on the stock in a research report on Tuesday, February 4th. JPMorgan Chase & Co. dropped their price target on shares of Fabrinet from $275.00 to $265.00 and set a "neutral" rating for the company in a research report on Tuesday, February 4th. Needham & Company LLC restated a "buy" rating and issued a $280.00 price objective on shares of Fabrinet in a report on Monday, March 17th. Finally, Rosenblatt Securities reaffirmed a "buy" rating and set a $285.00 price objective on shares of Fabrinet in a research report on Friday, March 14th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $250.14.

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.