Taika Capital LP Makes New $1.25 Million Investment in Fabrinet (NYSE:FN)

Taika Capital LP bought a new stake in shares of Fabrinet (NYSE:FN - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 5,670 shares of the technology company's stock, valued at approximately $1,247,000. Fabrinet accounts for about 1.0% of Taika Capital LP's investment portfolio, making the stock its 29th biggest holding.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in FN. Cynosure Group LLC grew its position in shares of Fabrinet by 3.4% during the 3rd quarter. Cynosure Group LLC now owns 1,560 shares of the technology company's stock worth $369,000 after buying an additional 51 shares during the period. Assetmark Inc. boosted its holdings in Fabrinet by 12.0% during the 4th quarter. Assetmark Inc. now owns 484 shares of the technology company's stock worth $106,000 after acquiring an additional 52 shares during the last quarter. Huntington National Bank lifted its position in shares of Fabrinet by 70.4% during the 3rd quarter. Huntington National Bank now owns 138 shares of the technology company's stock worth $33,000 after buying an additional 57 shares in the last quarter. CIBC Asset Management Inc increased its position in shares of Fabrinet by 5.7% during the fourth quarter. CIBC Asset Management Inc now owns 1,113 shares of the technology company's stock valued at $245,000 after acquiring an additional 60 shares during the last quarter. Finally, Nations Financial Group Inc. IA ADV increased its position in shares of Fabrinet by 2.4% during the fourth quarter. Nations Financial Group Inc. IA ADV now owns 2,941 shares of the technology company's stock valued at $647,000 after acquiring an additional 68 shares during the last quarter. Institutional investors and hedge funds own 97.38% of the company's stock.

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Wall Street Analysts Forecast Growth

FN has been the subject of a number of research analyst reports. Barclays decreased their price target on Fabrinet from $292.00 to $245.00 and set an "equal weight" rating for the company in a research report on Tuesday, February 4th. Needham & Company LLC reaffirmed a "buy" rating and set a $280.00 price target on shares of Fabrinet in a research report on Tuesday, February 4th. Rosenblatt Securities raised their target price on Fabrinet from $280.00 to $285.00 and gave the stock a "buy" rating in a research report on Tuesday, February 4th. JPMorgan Chase & Co. decreased their target price on Fabrinet from $275.00 to $265.00 and set a "neutral" rating for the company in a research report on Tuesday, February 4th. Finally, Fox Advisors assumed coverage on Fabrinet in a research report on Tuesday, February 18th. They issued an "overweight" rating and a $270.00 target price for the company. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $246.63.

Fabrinet Trading Up 10.9 %

Shares of NYSE FN traded up $22.05 during mid-day trading on Thursday, hitting $223.93. The company had a trading volume of 1,836,818 shares, compared to its average volume of 773,374. The company has a market capitalization of $8.12 billion, a price-to-earnings ratio of 25.05 and a beta of 0.89. Fabrinet has a 1 year low of $159.69 and a 1 year high of $281.79. The stock's 50-day moving average price is $219.55 and its 200-day moving average price is $231.25.

Fabrinet (NYSE:FN - Get Free Report) last announced its quarterly earnings results on Monday, February 3rd. The technology company reported $2.38 earnings per share 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 forecast that Fabrinet will post 9.4 earnings per share 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.