Van ECK Associates Corp Grows Stake in Fabrinet (NYSE:FN)

Van ECK Associates Corp lifted its position in Fabrinet (NYSE:FN - Free Report) by 36.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,087 shares of the technology company's stock after buying an additional 8,533 shares during the quarter. Van ECK Associates Corp owned approximately 0.09% of Fabrinet worth $7,055,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Barclays PLC increased its stake in Fabrinet by 304.6% in the 3rd quarter. Barclays PLC now owns 69,128 shares of the technology company's stock worth $16,345,000 after acquiring an additional 52,042 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Fabrinet by 14.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 480,550 shares of the technology company's stock valued at $113,621,000 after acquiring an additional 61,491 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of Fabrinet in the third quarter worth approximately $2,398,000. Pathstone Holdings LLC increased its position in shares of Fabrinet by 40.7% in the third quarter. Pathstone Holdings LLC now owns 8,219 shares of the technology company's stock worth $1,943,000 after purchasing an additional 2,378 shares during the last quarter. Finally, Freedom Investment Management Inc. lifted its position in Fabrinet by 106.2% during the third quarter. Freedom Investment Management Inc. now owns 4,969 shares of the technology company's stock valued at $1,175,000 after purchasing an additional 2,559 shares during the last quarter. 97.38% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Fabrinet Stock Down 3.7 %

Shares of FN traded down $8.50 during trading hours on Friday, hitting $222.17. The company had a trading volume of 495,615 shares, compared to its average volume of 717,445. 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 $226.73 and its 200 day moving average price is $233.90. The firm has a market cap of $8.06 billion, a P/E ratio of 24.85 and a beta of 0.92.

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 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.