Wellington Management Group LLP Has $276.44 Million Holdings in Fabrinet (NYSE:FN)

Wellington Management Group LLP lifted its holdings in Fabrinet (NYSE:FN - Free Report) by 1.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,169,162 shares of the technology company's stock after purchasing an additional 19,677 shares during the period. Wellington Management Group LLP owned 3.22% of Fabrinet worth $276,437,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Opal Wealth Advisors LLC bought a new position in shares of Fabrinet in the second quarter valued at approximately $28,000. Huntington National Bank raised its holdings in Fabrinet by 70.4% in the 3rd quarter. Huntington National Bank now owns 138 shares of the technology company's stock worth $33,000 after acquiring an additional 57 shares during the period. Banque Cantonale Vaudoise acquired a new position in Fabrinet during the 2nd quarter worth $35,000. Kimelman & Baird LLC bought a new stake in Fabrinet during the second quarter valued at about $49,000. Finally, NBC Securities Inc. boosted its holdings in Fabrinet by 732.0% during the third quarter. NBC Securities Inc. now owns 208 shares of the technology company's stock valued at $49,000 after acquiring an additional 183 shares during the period. 97.38% of the stock is currently owned by institutional investors.

Fabrinet Stock Up 3.5 %

FN traded up $8.13 during trading on Friday, reaching $243.00. 228,944 shares of the company's stock were exchanged, compared to its average volume of 572,874. The company has a market capitalization of $8.81 billion, a P/E ratio of 28.76 and a beta of 0.92. The business has a 50 day moving average price of $244.43 and a 200 day moving average price of $238.22. Fabrinet has a fifty-two week low of $159.69 and a fifty-two week high of $278.38.

Fabrinet (NYSE:FN - Get Free Report) last issued its earnings results on Monday, November 4th. The technology company reported $2.39 earnings per share for the quarter, beating the consensus estimate of $2.38 by $0.01. Fabrinet had a net margin of 10.28% and a return on equity of 18.08%. The business had revenue of $804.20 million for the quarter, compared to analyst estimates of $771.24 million. During the same period in the previous year, the business earned $1.78 EPS. The firm's revenue was up 17.3% on a year-over-year basis. As a group, research analysts forecast that Fabrinet will post 9.1 EPS for the current year.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. B. Riley cut Fabrinet from a "neutral" rating to a "sell" rating and cut their price objective for the stock from $194.00 to $178.00 in a research report on Wednesday, November 20th. Needham & Company LLC assumed coverage on Fabrinet in a research report on Tuesday, November 5th. They issued a "buy" rating and a $280.00 price objective for the company. Barclays began coverage on shares of Fabrinet in a research report on Thursday, November 14th. They set an "equal weight" rating and a $292.00 target price on the stock. JPMorgan Chase & Co. increased their price target on shares of Fabrinet from $240.00 to $285.00 and gave the company a "neutral" rating in a report on Tuesday, August 20th. Finally, Rosenblatt Securities raised their price target on shares of Fabrinet from $260.00 to $280.00 and gave the stock a "buy" rating in a research report on Tuesday, August 20th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Fabrinet presently has a consensus rating of "Hold" and a consensus price target of $252.14.

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.