TD Asset Management Inc. Trims Position in Fabrinet (NYSE:FN)

TD Asset Management Inc. lowered its position in Fabrinet (NYSE:FN - Free Report) by 11.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 405,719 shares of the technology company's stock after selling 50,248 shares during the quarter. TD Asset Management Inc. owned approximately 1.12% of Fabrinet worth $89,209,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. acquired a new position in Fabrinet in the 3rd quarter valued at about $52,000. Public Employees Retirement System of Ohio purchased a new position in shares of Fabrinet in the 3rd quarter valued at approximately $61,000. IFP Advisors Inc increased its holdings in shares of Fabrinet by 576.2% in the fourth quarter. IFP Advisors Inc now owns 284 shares of the technology company's stock valued at $63,000 after purchasing an additional 242 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in shares of Fabrinet during the third quarter worth approximately $70,000. Finally, Assetmark Inc. grew its position in Fabrinet by 12.0% in the 4th quarter. Assetmark Inc. now owns 484 shares of the technology company's stock valued at $106,000 after buying an additional 52 shares during the last quarter. 97.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

FN has been the topic of a number of recent analyst reports. Barclays dropped their price target 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. Rosenblatt Securities reissued a "buy" rating and set a $285.00 target price on shares of Fabrinet in a research note on Friday, March 14th. Needham & Company LLC restated a "buy" rating and issued a $280.00 price target on shares of Fabrinet in a research note on Monday, March 17th. Fox Advisors assumed 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. Finally, JPMorgan Chase & Co. decreased their target price on shares of Fabrinet from $275.00 to $265.00 and set a "neutral" rating on the stock in a research report on Tuesday, February 4th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $250.43.

Fabrinet Stock Up 1.0 %

NYSE FN traded up $1.97 during mid-day trading on Monday, hitting $198.11. The stock had a trading volume of 1,180,276 shares, compared to its average volume of 572,950. The company has a 50 day simple moving average of $215.76 and a 200 day simple moving average of $230.14. The company has a market cap of $7.19 billion, a price-to-earnings ratio of 22.16 and a beta of 0.89. Fabrinet has a 52-week low of $159.69 and a 52-week high of $281.79.

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

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.