Fabrinet (NYSE:FN) Shares Bought by WCM Investment Management LLC

WCM Investment Management LLC grew its position in Fabrinet (NYSE:FN - Free Report) by 64.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 85,268 shares of the technology company's stock after purchasing an additional 33,545 shares during the quarter. WCM Investment Management LLC owned about 0.24% of Fabrinet worth $18,312,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of FN. Wellington Management Group LLP grew its stake in shares of Fabrinet by 1.7% in the third quarter. Wellington Management Group LLP now owns 1,169,162 shares of the technology company's stock worth $276,437,000 after purchasing an additional 19,677 shares during the last quarter. Geode Capital Management LLC raised its position in Fabrinet by 7.6% in the 3rd quarter. Geode Capital Management LLC now owns 986,813 shares of the technology company's stock valued at $233,359,000 after buying an additional 69,554 shares during the last quarter. Whale Rock Capital Management LLC boosted its stake in shares of Fabrinet by 25.8% in the 3rd 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 last quarter. JPMorgan Chase & Co. increased its holdings in Fabrinet by 3.8% during the third quarter. JPMorgan Chase & Co. now owns 660,401 shares of the technology company's stock worth $156,145,000 after buying an additional 24,439 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Fabrinet by 14.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 480,550 shares of the technology company's stock valued at $113,621,000 after purchasing an additional 61,491 shares during the last quarter. Institutional investors own 97.38% of the company's stock.

Wall Street Analysts Forecast Growth

FN has been the topic of a number of analyst reports. Barclays decreased their price objective on Fabrinet from $292.00 to $245.00 and set an "equal weight" 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 reduced their price objective for the company from $194.00 to $178.00 in a research report on Wednesday, November 20th. 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 report on Tuesday, February 4th. Rosenblatt Securities raised their price target on shares of Fabrinet from $280.00 to $285.00 and gave the stock a "buy" rating in a report on Tuesday, February 4th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $280.00 price target on shares of Fabrinet in a research note on Tuesday, February 4th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $243.29.

Fabrinet Price Performance

Shares of Fabrinet stock traded up $4.26 during trading on Wednesday, reaching $211.35. 593,408 shares of the stock traded hands, compared to its average volume of 728,018. The company has a market capitalization of $7.67 billion, a price-to-earnings ratio of 23.64 and a beta of 0.92. The business has a fifty day simple moving average of $228.65 and a two-hundred day simple moving average of $233.59. Fabrinet has a 52-week low of $159.69 and a 52-week high of $281.79.

Fabrinet (NYSE:FN - Get Free Report) last posted its quarterly earnings data on Monday, February 3rd. The technology company reported $2.38 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.48 by ($0.10). Fabrinet had a net margin of 10.44% and a return on equity of 18.48%. On average, research analysts predict that Fabrinet will post 9.4 earnings per share 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.