Vaughan Nelson Investment Management L.P. Raises Stake in Fabrinet (NYSE:FN)

Vaughan Nelson Investment Management L.P. raised its stake in shares of Fabrinet (NYSE:FN - Free Report) by 34.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 306,570 shares of the technology company's stock after purchasing an additional 79,265 shares during the period. Vaughan Nelson Investment Management L.P. owned 0.85% of Fabrinet worth $67,408,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Wedge Capital Management L L P NC purchased a new stake in Fabrinet in the 4th quarter worth about $63,222,000. Whale Rock Capital Management LLC raised its holdings in shares of Fabrinet by 25.8% in the third quarter. Whale Rock Capital Management LLC now owns 855,767 shares of the technology company's stock worth $202,338,000 after buying an additional 175,684 shares during the period. Stephens Investment Management Group LLC bought a new stake in shares of Fabrinet during the 4th quarter worth approximately $28,218,000. World Investment Advisors LLC bought a new position in Fabrinet in the 3rd quarter valued at $20,187,000. Finally, DekaBank Deutsche Girozentrale increased its stake in Fabrinet by 3,831.4% in the third quarter. DekaBank Deutsche Girozentrale now owns 82,088 shares of the technology company's stock worth $19,465,000 after purchasing an additional 80,000 shares during the period. 97.38% of the stock is owned by institutional investors.

Fabrinet Trading Up 2.1 %

Shares of NYSE:FN traded up $4.26 on Wednesday, reaching $211.35. The company had a trading volume of 593,408 shares, compared to its average volume of 728,018. The firm has a market capitalization of $7.67 billion, a PE ratio of 23.64 and a beta of 0.92. Fabrinet has a 52-week low of $159.69 and a 52-week high of $281.79. The firm's 50 day simple moving average is $228.65 and its 200-day simple moving average is $233.59.

Fabrinet (NYSE:FN - Get Free Report) last released its quarterly earnings results on Monday, February 3rd. The technology company reported $2.38 EPS 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 predict that Fabrinet will post 9.4 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Needham & Company LLC restated a "buy" rating and issued a $280.00 price target on shares of Fabrinet in a report on Tuesday, February 4th. Barclays decreased their price target on shares of Fabrinet from $292.00 to $245.00 and set an "equal weight" rating for the company in a research note on Tuesday, February 4th. JPMorgan Chase & Co. dropped their price objective on Fabrinet from $275.00 to $265.00 and set a "neutral" rating on the stock in a research note on Tuesday, February 4th. B. Riley lowered Fabrinet from a "neutral" rating to a "sell" rating and decreased their target price for the company from $194.00 to $178.00 in a research report on Wednesday, November 20th. Finally, Rosenblatt Securities increased their price target on Fabrinet from $280.00 to $285.00 and gave the stock a "buy" rating in a research report on Tuesday, February 4th. One 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. According to MarketBeat.com, Fabrinet currently has a consensus rating of "Hold" and an average target price of $243.29.

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.