Wasatch Advisors LP lifted its position in shares of Fabrinet (NYSE:FN - Free Report) by 47.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,132,636 shares of the technology company's stock after purchasing an additional 362,064 shares during the period. Fabrinet comprises about 1.2% of Wasatch Advisors LP's holdings, making the stock its 25th largest position. Wasatch Advisors LP owned 3.12% of Fabrinet worth $249,044,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Stifel Financial Corp lifted its stake in shares of Fabrinet by 9.3% in the 3rd quarter. Stifel Financial Corp now owns 12,295 shares of the technology company's stock worth $2,907,000 after acquiring an additional 1,041 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in Fabrinet in the third quarter valued at about $61,000. Barclays PLC increased its position in Fabrinet by 304.6% during the 3rd quarter. Barclays PLC now owns 69,128 shares of the technology company's stock worth $16,345,000 after purchasing an additional 52,042 shares during the period. Coldstream Capital Management Inc. raised its stake in shares of Fabrinet by 10.2% during the 3rd quarter. Coldstream Capital Management Inc. now owns 1,037 shares of the technology company's stock worth $246,000 after buying an additional 96 shares in the last quarter. Finally, Virtu Financial LLC acquired a new stake in shares of Fabrinet in the 3rd quarter valued at approximately $431,000. Hedge funds and other institutional investors own 97.38% of the company's stock.
Wall Street Analyst Weigh In
A number of brokerages recently weighed in on FN. Barclays dropped their price objective on Fabrinet from $292.00 to $245.00 and set an "equal weight" rating on the stock in a report on Tuesday, February 4th. Fox Advisors initiated coverage on shares of Fabrinet in a research note on Tuesday, February 18th. They issued an "overweight" rating and a $270.00 price objective for the company. JPMorgan Chase & Co. dropped their target price on shares of Fabrinet from $265.00 to $220.00 and set a "neutral" rating for the company in a report on Thursday. B. Riley upgraded Fabrinet from a "sell" rating to a "neutral" rating and lowered their price target for the stock from $178.00 to $176.00 in a report on Friday, April 4th. Finally, Needham & Company LLC restated a "buy" rating and set a $280.00 target price on shares of Fabrinet in a research report on Monday, March 17th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $243.71.
Check Out Our Latest Stock Report on Fabrinet
Fabrinet Stock Performance
Fabrinet stock traded down $3.08 during trading on Friday, hitting $183.63. The company's stock had a trading volume of 425,242 shares, compared to its average volume of 605,850. The stock's fifty day moving average is $203.49 and its 200 day moving average is $225.13. Fabrinet has a 1-year low of $148.55 and a 1-year high of $281.79. The stock has a market capitalization of $6.58 billion, a price-to-earnings ratio of 20.54 and a beta of 0.97.
Fabrinet (NYSE:FN - Get Free Report) last posted its quarterly earnings results 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%. On average, research analysts anticipate that Fabrinet will post 9.4 EPS for the current fiscal year.
About Fabrinet
(
Free Report)
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.
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