World Investment Advisors LLC Takes $20.19 Million Position in Fabrinet (NYSE:FN)

World Investment Advisors LLC bought a new stake in shares of Fabrinet (NYSE:FN - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 85,378 shares of the technology company's stock, valued at approximately $20,187,000. World Investment Advisors LLC owned 0.24% of Fabrinet as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of FN. Huntington National Bank boosted its holdings in shares of Fabrinet by 70.4% in the 3rd quarter. Huntington National Bank now owns 138 shares of the technology company's stock valued at $33,000 after buying an additional 57 shares in the last quarter. Banque Cantonale Vaudoise acquired a new stake in Fabrinet in the second quarter valued at approximately $35,000. Kimelman & Baird LLC purchased a new position in Fabrinet in the second quarter worth $49,000. NBC Securities Inc. increased its position in shares of Fabrinet by 732.0% during the third quarter. NBC Securities Inc. now owns 208 shares of the technology company's stock worth $49,000 after purchasing an additional 183 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Fabrinet during the 3rd quarter valued at $52,000. Institutional investors own 97.38% of the company's stock.

Fabrinet Price Performance

NYSE:FN traded up $5.59 during midday trading on Thursday, hitting $245.82. The company's stock had a trading volume of 450,580 shares, compared to its average volume of 495,949. Fabrinet has a fifty-two week low of $159.69 and a fifty-two week high of $278.38. The firm has a market cap of $8.92 billion, a P/E ratio of 29.09 and a beta of 0.92. The firm's 50 day moving average is $244.67 and its 200-day moving average is $238.14.

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

Wall Street Analysts Forecast Growth

FN has been the topic of several research analyst reports. Barclays initiated coverage on Fabrinet in a research note on Thursday, November 14th. They set an "equal weight" rating and a $292.00 target price on the stock. B. Riley lowered Fabrinet from a "neutral" rating to a "sell" rating and dropped their price target for the stock from $194.00 to $178.00 in a research note on Wednesday, November 20th. Rosenblatt Securities increased their price objective on shares of Fabrinet from $260.00 to $280.00 and gave the company a "buy" rating in a research report on Tuesday, August 20th. Needham & Company LLC began coverage on shares of Fabrinet in a research note on Tuesday, November 5th. They issued a "buy" rating and a $280.00 target price for the company. Finally, JPMorgan Chase & Co. upped their price target on shares of Fabrinet from $240.00 to $285.00 and gave the company a "neutral" rating in a research note on Tuesday, August 20th. One 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. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $252.14.

About Fabrinet

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.