Teacher Retirement System of Texas Acquires 5,869 Shares of Fabrinet (NYSE:FN)

Teacher Retirement System of Texas raised its position in Fabrinet (NYSE:FN - Free Report) by 29.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,999 shares of the technology company's stock after purchasing an additional 5,869 shares during the period. Teacher Retirement System of Texas owned 0.07% of Fabrinet worth $5,717,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. bought a new stake in Fabrinet during the third quarter valued at $52,000. Public Employees Retirement System of Ohio bought a new stake in shares of Fabrinet during the 3rd quarter valued at about $61,000. IFP Advisors Inc boosted 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 acquiring an additional 242 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Fabrinet during the third quarter worth about $70,000. Finally, Transamerica Financial Advisors Inc. bought a new position in shares of Fabrinet in the third quarter worth approximately $114,000. 97.38% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on FN. JPMorgan Chase & Co. cut their price target on shares of Fabrinet from $275.00 to $265.00 and set a "neutral" rating for the company in a research note on Tuesday, February 4th. Needham & Company LLC reiterated a "buy" rating and issued a $280.00 target price on shares of Fabrinet in a research report on Monday, March 17th. Fox Advisors initiated coverage on Fabrinet in a research report on Tuesday, February 18th. They set an "overweight" rating and a $270.00 price target on the stock. Rosenblatt Securities reaffirmed a "buy" rating and set a $285.00 price target on shares of Fabrinet in a research note on Friday, March 14th. Finally, Barclays reduced their price objective on Fabrinet from $292.00 to $245.00 and set an "equal weight" rating on the stock in a research report on Tuesday, February 4th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $250.43.

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Fabrinet Stock Down 0.8 %

Shares of FN traded down $1.58 during trading hours on Thursday, hitting $207.17. The company had a trading volume of 497,136 shares, compared to its average volume of 549,259. Fabrinet has a 52-week low of $159.69 and a 52-week high of $281.79. The stock's 50 day moving average price is $218.14 and its 200 day moving average price is $230.31. The firm has a market cap of $7.51 billion, a P/E ratio of 23.17 and a beta of 0.89.

Fabrinet (NYSE:FN - Get Free Report) last announced its quarterly earnings results on Monday, February 3rd. The technology company reported $2.38 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%. On average, research analysts expect that Fabrinet will post 9.4 EPS for the current fiscal 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.