XTX Topco Ltd Buys 2,764 Shares of Fabrinet (NYSE:FN)

XTX Topco Ltd grew its stake in Fabrinet (NYSE:FN - Free Report) by 192.3% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 4,201 shares of the technology company's stock after acquiring an additional 2,764 shares during the period. XTX Topco Ltd's holdings in Fabrinet were worth $993,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in FN. Legacy Wealth Asset Management LLC boosted its holdings in shares of Fabrinet by 3.2% in the third quarter. Legacy Wealth Asset Management LLC now owns 1,375 shares of the technology company's stock valued at $325,000 after acquiring an additional 43 shares during the period. Wolff Wiese Magana LLC raised its position in Fabrinet by 2.7% in the third quarter. Wolff Wiese Magana LLC now owns 1,765 shares of the technology company's stock worth $417,000 after acquiring an additional 47 shares in the last quarter. Cynosure Group LLC boosted its stake in shares of Fabrinet by 3.4% during the 3rd quarter. Cynosure Group LLC now owns 1,560 shares of the technology company's stock worth $369,000 after acquiring an additional 51 shares in the last quarter. Trust Point Inc. raised its position in Fabrinet by 4.7% during the third quarter. Trust Point Inc. now owns 1,272 shares of the technology company's stock worth $301,000 after acquiring an additional 57 shares during the last quarter. Finally, Huntington National Bank lifted its holdings in 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 purchasing an additional 57 shares in the last quarter. 97.38% of the stock is currently owned by institutional investors and hedge funds.

Fabrinet Stock Performance

NYSE FN traded up $6.38 during trading hours on Wednesday, reaching $240.21. 336,390 shares of the company's stock were exchanged, compared to its average volume of 496,077. The company's 50-day moving average is $244.67 and its two-hundred day moving average is $238.14. Fabrinet has a one year low of $159.69 and a one year high of $278.38. The company has a market capitalization of $8.71 billion, a price-to-earnings ratio of 28.43 and a beta of 0.92.

Fabrinet (NYSE:FN - Get Free Report) last issued its earnings results on Monday, November 4th. The technology company reported $2.39 earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $771.24 million. During the same period last year, the business posted $1.78 EPS. Fabrinet's revenue was up 17.3% on a year-over-year basis. Research analysts predict that Fabrinet will post 9.1 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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