Swiss National Bank Boosts Stock Holdings in Fabrinet (NYSE:FN)

Swiss National Bank lifted its position in Fabrinet (NYSE:FN) by 0.7% during the 4th quarter, Holdings Channel reports. The firm owned 71,040 shares of the technology company’s stock after acquiring an additional 500 shares during the period. Swiss National Bank’s holdings in Fabrinet were worth $15,620,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Cynosure Group LLC boosted its holdings in Fabrinet by 3.4% in the third quarter. Cynosure Group LLC now owns 1,560 shares of the technology company’s stock valued at $369,000 after acquiring an additional 51 shares in the last quarter. Assetmark Inc. grew its position in shares of Fabrinet by 12.0% in the 4th quarter. Assetmark Inc. now owns 484 shares of the technology company’s stock worth $106,000 after buying an additional 52 shares during the period. Huntington National Bank increased its stake in shares of Fabrinet by 70.4% in the 3rd quarter. Huntington National Bank now owns 138 shares of the technology company’s stock worth $33,000 after acquiring an additional 57 shares in the last quarter. CIBC Asset Management Inc lifted its position in Fabrinet by 5.7% during the 4th quarter. CIBC Asset Management Inc now owns 1,113 shares of the technology company’s stock valued at $245,000 after acquiring an additional 60 shares during the period. Finally, Nations Financial Group Inc. IA ADV boosted its stake in Fabrinet by 2.4% during the fourth quarter. Nations Financial Group Inc. IA ADV now owns 2,941 shares of the technology company’s stock worth $647,000 after acquiring an additional 68 shares in the last quarter. Institutional investors own 97.38% of the company’s stock.

Fabrinet Price Performance

FN stock opened at $225.07 on Thursday. The stock has a market capitalization of $8.16 billion, a P/E ratio of 25.18 and a beta of 0.89. Fabrinet has a 1-year low of $159.69 and a 1-year high of $281.79. The business has a fifty day moving average price of $218.92 and a 200-day moving average price of $230.45.

Fabrinet (NYSE:FN) last issued its earnings results on Monday, February 3rd. The technology company reported $2.38 earnings per share for the quarter, missing analysts’ consensus estimates 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.

Analyst Ratings Changes

FN has been the subject of several recent research reports. JPMorgan Chase & Co. lowered their target price on shares of Fabrinet from $275.00 to $265.00 and set a “neutral” rating for the company in a report on Tuesday, February 4th. Rosenblatt Securities reiterated a “buy” rating and set a $285.00 price objective on shares of Fabrinet in a research note on Friday, March 14th. Barclays cut their target price on Fabrinet from $292.00 to $245.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 4th. B. Riley downgraded Fabrinet from a “neutral” rating to a “sell” rating and reduced their price target for the company from $194.00 to $178.00 in a report on Wednesday, November 20th. Finally, Fox Advisors initiated coverage on shares of Fabrinet in a research note on Tuesday, February 18th. They issued an “overweight” rating and a $270.00 price target on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $246.63.

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.