Zurcher Kantonalbank Zurich Cantonalbank Buys 1,262 Shares of Fabrinet (NYSE:FN)

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Fabrinet (NYSE:FN - Free Report) by 15.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,534 shares of the technology company's stock after acquiring an additional 1,262 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Fabrinet were worth $2,096,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. Wellington Management Group LLP lifted its stake in Fabrinet by 1.7% during the third quarter. Wellington Management Group LLP now owns 1,169,162 shares of the technology company's stock valued at $276,437,000 after purchasing an additional 19,677 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of 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 acquiring an additional 69,554 shares in the last quarter. Whale Rock Capital Management LLC lifted its position 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 valued at $202,338,000 after acquiring an additional 175,684 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Fabrinet by 3.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 660,401 shares of the technology company's stock valued at $156,145,000 after acquiring an additional 24,439 shares in the last quarter. Finally, Baillie Gifford & Co. lifted its position in shares of Fabrinet by 10.7% in the 4th quarter. Baillie Gifford & Co. now owns 553,038 shares of the technology company's stock valued at $121,602,000 after acquiring an additional 53,250 shares in the last quarter. 97.38% of the stock is owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Rosenblatt Securities restated a "buy" rating and issued a $285.00 price target on shares of Fabrinet in a research report on Friday, March 14th. Fox Advisors assumed coverage on shares of Fabrinet in a research report on Tuesday, February 18th. They issued an "overweight" rating and a $270.00 price target for the company. JPMorgan Chase & Co. reduced 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. Barclays reduced their price target on shares of Fabrinet from $292.00 to $245.00 and set an "equal weight" rating for the company in a research report on Tuesday, February 4th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $280.00 target price on shares of Fabrinet in a research report on Monday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $246.63.

Fabrinet Stock Down 1.1 %

NYSE FN traded down $2.44 during midday trading on Thursday, hitting $222.08. The company had a trading volume of 435,380 shares, compared to its average volume of 547,865. The stock has a market cap of $8.05 billion, a price-to-earnings ratio of 24.84 and a beta of 0.89. The firm has a fifty day simple moving average of $218.92 and a two-hundred day simple moving average of $230.45. Fabrinet has a fifty-two week low of $159.69 and a fifty-two week high of $281.79.

Fabrinet (NYSE:FN - Get Free Report) last issued its earnings results on Monday, February 3rd. The technology company reported $2.38 earnings per share for the quarter, missing the consensus estimate of $2.48 by ($0.10). Fabrinet had a net margin of 10.44% and a return on equity of 18.48%. As a group, equities analysts predict that Fabrinet will post 9.4 earnings per share for the current year.

Fabrinet 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.