Stephens Investment Management Group LLC Acquires Shares of 128,334 Fabrinet (NYSE:FN)

Stephens Investment Management Group LLC bought a new stake in Fabrinet (NYSE:FN - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 128,334 shares of the technology company's stock, valued at approximately $28,218,000. Stephens Investment Management Group LLC owned 0.35% of Fabrinet at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Huntington National Bank boosted its holdings in Fabrinet by 70.4% in the third quarter. Huntington National Bank now owns 138 shares of the technology company's stock valued at $33,000 after purchasing an additional 57 shares during the last quarter. NBC Securities Inc. boosted its holdings in Fabrinet by 732.0% in the third quarter. NBC Securities Inc. now owns 208 shares of the technology company's stock valued at $49,000 after purchasing an additional 183 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Fabrinet in the third quarter valued at $52,000. UMB Bank n.a. boosted its holdings in Fabrinet by 252.9% in the third quarter. UMB Bank n.a. now owns 240 shares of the technology company's stock valued at $57,000 after purchasing an additional 172 shares during the last quarter. Finally, Eastern Bank purchased a new stake in Fabrinet in the third quarter valued at $59,000. 97.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have commented on FN. B. Riley lowered shares of Fabrinet from a "neutral" rating to a "sell" rating and lowered their price target for the company from $194.00 to $178.00 in a report on Wednesday, November 20th. Needham & Company LLC reaffirmed a "buy" rating and issued a $280.00 price target on shares of Fabrinet in a report on Tuesday, February 4th. Rosenblatt Securities upped their price target on shares of Fabrinet from $280.00 to $285.00 and gave the company a "buy" rating in a report on Tuesday, February 4th. JPMorgan Chase & Co. lowered their target price on shares of Fabrinet from $275.00 to $265.00 and set a "neutral" rating on the stock in a research note on Tuesday, February 4th. Finally, Barclays lowered 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 note on Tuesday, February 4th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $243.29.

Fabrinet Stock Up 1.3 %

Shares of FN stock traded up $2.70 during mid-day trading on Thursday, hitting $213.95. 440,995 shares of the stock were exchanged, compared to its average volume of 718,127. The firm has a fifty day moving average of $228.04 and a 200 day moving average of $233.44. Fabrinet has a 52-week low of $159.69 and a 52-week high of $281.79. The company has a market cap of $7.76 billion, a PE ratio of 23.93 and a beta of 0.92.

Fabrinet (NYSE:FN - Get Free Report) last issued its quarterly earnings results on Monday, February 3rd. The technology company reported $2.38 earnings per share 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 predict 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.