MetLife Investment Management LLC Has $9.19 Million Position in Fabrinet (NYSE:FN)

MetLife Investment Management LLC boosted its holdings in Fabrinet (NYSE:FN) by 7.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 41,775 shares of the technology company’s stock after acquiring an additional 3,016 shares during the period. MetLife Investment Management LLC owned 0.12% of Fabrinet worth $9,185,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in FN. Norges Bank acquired a new stake in Fabrinet during the 4th quarter worth approximately $95,084,000. Capital Research Global Investors boosted its position in shares of Fabrinet by 675.2% in the fourth quarter. Capital Research Global Investors now owns 417,020 shares of the technology company’s stock valued at $91,694,000 after acquiring an additional 363,228 shares during the period. Wasatch Advisors LP grew its stake in shares of Fabrinet by 47.0% in the fourth quarter. Wasatch Advisors LP now owns 1,132,636 shares of the technology company’s stock valued at $249,044,000 after acquiring an additional 362,064 shares in the last quarter. Wedge Capital Management L L P NC bought a new position in Fabrinet during the fourth quarter worth about $63,222,000. Finally, FMR LLC boosted its holdings in Fabrinet by 13.1% in the 4th quarter. FMR LLC now owns 2,213,887 shares of the technology company’s stock valued at $486,789,000 after purchasing an additional 257,164 shares during the period. Institutional investors and hedge funds own 97.38% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Barclays dropped 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. Needham & Company LLC restated a “buy” rating and issued a $280.00 price target on shares of Fabrinet in a research report on Monday, March 17th. JPMorgan Chase & Co. cut their price objective on shares of Fabrinet from $265.00 to $220.00 and set a “neutral” rating for the company in a research report on Thursday, April 17th. B. Riley upgraded shares of Fabrinet from a “sell” rating to a “neutral” rating and dropped their target price for the company from $178.00 to $176.00 in a research report on Friday, April 4th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $285.00 price objective 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 given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $243.71.

Fabrinet Stock Performance

Shares of FN opened at $173.20 on Tuesday. Fabrinet has a 52 week low of $148.55 and a 52 week high of $281.79. The stock has a market capitalization of $6.21 billion, a price-to-earnings ratio of 19.37 and a beta of 0.97. The stock has a fifty day moving average of $202.73 and a 200-day moving average of $224.51.

Fabrinet (NYSE:FN) last announced its quarterly earnings results on Monday, February 3rd. The technology company reported $2.38 EPS for the quarter, missing analysts’ consensus estimates 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 forecast that Fabrinet will post 9.4 EPS for the current year.

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.