Wellington Management Group LLP Has $146.52 Million Stock Position in Fabrinet (NYSE:FN)

Wellington Management Group LLP cut its holdings in Fabrinet (NYSE:FN) by 43.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 666,361 shares of the technology company’s stock after selling 502,801 shares during the quarter. Wellington Management Group LLP’s holdings in Fabrinet were worth $146,519,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Barclays PLC lifted its stake in shares of Fabrinet by 304.6% in the 3rd quarter. Barclays PLC now owns 69,128 shares of the technology company’s stock valued at $16,345,000 after acquiring an additional 52,042 shares during the last quarter. Salem Investment Counselors Inc. bought a new position in Fabrinet in the fourth quarter valued at about $518,000. Janney Montgomery Scott LLC raised its position in Fabrinet by 2.6% in the fourth quarter. Janney Montgomery Scott LLC now owns 3,279 shares of the technology company’s stock valued at $721,000 after purchasing an additional 82 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Fabrinet by 3.8% during the third quarter. JPMorgan Chase & Co. now owns 660,401 shares of the technology company’s stock valued at $156,145,000 after purchasing an additional 24,439 shares in the last quarter. Finally, Harbor Capital Advisors Inc. grew its holdings in shares of Fabrinet by 33.2% during the fourth quarter. Harbor Capital Advisors Inc. now owns 13,901 shares of the technology company’s stock worth $3,057,000 after purchasing an additional 3,468 shares during the last quarter. Institutional investors own 97.38% of the company’s stock.

Wall Street Analysts Forecast Growth

FN has been the subject of several recent research reports. Barclays decreased 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. Rosenblatt Securities restated a “buy” rating and issued a $285.00 price objective on shares of Fabrinet in a report on Friday, March 14th. JPMorgan Chase & Co. lowered their target price on Fabrinet from $275.00 to $265.00 and set a “neutral” rating for the company in a research report on Tuesday, February 4th. Needham & Company LLC reiterated a “buy” rating and issued a $280.00 price target on shares of Fabrinet in a research report on Monday, March 17th. Finally, Fox Advisors began coverage on Fabrinet in a research report on Tuesday, February 18th. They set an “overweight” rating and a $270.00 price objective for the company. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $250.43.

Fabrinet Stock Performance

Shares of FN opened at $172.73 on Friday. Fabrinet has a 52 week low of $159.69 and a 52 week high of $281.79. The stock has a 50 day moving average price of $211.47 and a two-hundred day moving average price of $229.32. The firm has a market capitalization of $6.26 billion, a P/E ratio of 19.32 and a beta of 0.89.

Fabrinet (NYSE:FN) last released 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%. On average, equities analysts forecast that Fabrinet will post 9.4 earnings per share 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.