Fmr LLC Has $486.79 Million Stock Position in Fabrinet (NYSE:FN)

Fmr LLC raised its stake in shares of Fabrinet (NYSE:FN) by 13.1% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 2,213,887 shares of the technology company’s stock after purchasing an additional 257,164 shares during the quarter. Fmr LLC owned about 0.06% of Fabrinet worth $486,789,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of FN. Huntington National Bank lifted its holdings in shares of Fabrinet by 66.7% during the 4th quarter. Huntington National Bank now owns 230 shares of the technology company’s stock valued at $51,000 after purchasing an additional 92 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of Fabrinet during the 3rd quarter valued at about $61,000. IFP Advisors Inc lifted its holdings in shares of Fabrinet by 576.2% during the 4th quarter. IFP Advisors Inc now owns 284 shares of the technology company’s stock valued at $63,000 after purchasing an additional 242 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Fabrinet during the 3rd quarter valued at about $70,000. Finally, Assetmark Inc. lifted its holdings in shares of Fabrinet by 12.0% during the 4th quarter. Assetmark Inc. now owns 484 shares of the technology company’s stock valued at $106,000 after purchasing an additional 52 shares in the last quarter. 97.38% of the stock is currently owned by institutional investors and hedge funds.

Fabrinet Stock Up 15.8 %

NYSE:FN opened at $201.56 on Thursday. The firm has a market capitalization of $7.31 billion, a price-to-earnings ratio of 22.55 and a beta of 0.97. Fabrinet has a twelve month low of $148.55 and a twelve month high of $281.79. The stock’s 50 day moving average price is $207.41 and its two-hundred day moving average price is $227.36.

Fabrinet (NYSE:FN) last posted its quarterly 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 return on equity of 18.48% and a net margin of 10.44%. As a group, analysts anticipate that Fabrinet will post 9.4 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on FN shares. Needham & Company LLC restated a “buy” rating and issued a $280.00 target price on shares of Fabrinet in a research note on Monday, March 17th. B. Riley upgraded Fabrinet from a “sell” rating to a “neutral” rating and cut their target price for the company from $178.00 to $176.00 in a research note on Friday, April 4th. Fox Advisors started coverage on Fabrinet in a research note on Tuesday, February 18th. They issued an “overweight” rating and a $270.00 target price on the stock. JPMorgan Chase & Co. cut their target price on Fabrinet from $275.00 to $265.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 4th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $285.00 target price on shares of Fabrinet in a research note on Friday, March 14th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Fabrinet has a consensus rating of “Hold” and an average price target of $250.14.

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.