Shelton Capital Management Invests $306,000 in Fabrinet (NYSE:FN)

Shelton Capital Management bought a new position in Fabrinet (NYSE:FN - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 1,390 shares of the technology company's stock, valued at approximately $306,000.

A number of other large investors have also made changes to their positions in the company. Bank of Montreal Can boosted its holdings in shares of Fabrinet by 2.5% during the fourth quarter. Bank of Montreal Can now owns 18,891 shares of the technology company's stock worth $4,154,000 after purchasing an additional 466 shares during the period. FMR LLC increased its stake in shares of Fabrinet by 13.1% in the fourth quarter. FMR LLC now owns 2,213,887 shares of the technology company's stock worth $486,789,000 after acquiring an additional 257,164 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC boosted its position in Fabrinet by 42.8% during the fourth quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 43,102 shares of the technology company's stock valued at $9,477,000 after purchasing an additional 12,917 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Fabrinet by 10.1% during the 4th quarter. Wells Fargo & Company MN now owns 47,191 shares of the technology company's stock valued at $10,376,000 after buying an additional 4,340 shares during the last quarter. Finally, Integrated Quantitative Investments LLC acquired a new stake in Fabrinet in the 4th quarter worth approximately $750,000. Institutional investors and hedge funds own 97.38% of the company's stock.

Fabrinet Stock Performance

Fabrinet stock traded down $4.86 on Wednesday, reaching $183.65. The company's stock had a trading volume of 204,644 shares, compared to its average volume of 601,189. Fabrinet has a twelve month low of $148.55 and a twelve month high of $281.79. The company has a market cap of $6.58 billion, a price-to-earnings ratio of 20.54 and a beta of 0.97. The business's fifty day moving average price is $205.04 and its 200 day moving average price is $226.08.

Fabrinet (NYSE:FN - Get Free Report) last announced its 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%. As a group, equities analysts forecast that Fabrinet will post 9.4 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on FN. Rosenblatt Securities reiterated a "buy" rating and set a $285.00 price target on shares of Fabrinet in a report on Friday, March 14th. Barclays dropped their price objective 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. Fox Advisors began coverage on Fabrinet in a research report on Tuesday, February 18th. They issued an "overweight" rating and a $270.00 price objective for the company. B. Riley raised Fabrinet from a "sell" rating to a "neutral" rating and reduced their target price for the stock from $178.00 to $176.00 in a research report on Friday, April 4th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $280.00 target price on shares of Fabrinet in a research note on Monday, March 17th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $250.14.

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.