Two Sigma Securities LLC Takes Position in Fabrinet (NYSE:FN)

Two Sigma Securities LLC purchased a new stake in Fabrinet (NYSE:FN) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 1,034 shares of the technology company’s stock, valued at approximately $227,000.

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

Wall Street Analysts Forecast Growth

Several research firms have weighed in on FN. Rosenblatt Securities cut their target price on Fabrinet from $280.00 to $230.00 and set a “buy” rating on the stock in a research note on Tuesday, April 22nd. JPMorgan Chase & Co. decreased their price objective on shares of Fabrinet from $265.00 to $220.00 and set a “neutral” rating for the company in a report on Thursday, April 17th. B. Riley upgraded shares of Fabrinet from a “sell” rating to a “neutral” rating and cut their target price for the stock from $178.00 to $176.00 in a report on Friday, April 4th. Fox Advisors started coverage on shares of Fabrinet in a report on Tuesday, February 18th. They issued an “overweight” rating and a $270.00 price target for the company. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $280.00 price objective on shares of Fabrinet in a research note on Monday, March 17th. 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 data from MarketBeat, Fabrinet presently has an average rating of “Hold” and a consensus price target of $235.86.

Fabrinet Trading Up 2.2 %

Shares of NYSE FN opened at $207.57 on Wednesday. The company has a fifty day moving average price of $198.82 and a 200 day moving average price of $222.38. Fabrinet has a 1-year low of $148.55 and a 1-year high of $281.79. The firm has a market cap of $7.44 billion, a PE ratio of 23.22 and a beta of 0.97.

Fabrinet (NYSE:FN) last posted its quarterly earnings data on Monday, February 3rd. The technology company reported $2.38 earnings per share (EPS) 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%. Equities research analysts forecast that Fabrinet will post 9.4 EPS for the current year.

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.