Barclays PLC Has $16.35 Million Holdings in Fabrinet (NYSE:FN)

Barclays PLC grew its stake in Fabrinet (NYSE:FN) by 304.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 69,128 shares of the technology company’s stock after acquiring an additional 52,042 shares during the quarter. Barclays PLC’s holdings in Fabrinet were worth $16,345,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of FN. CWM LLC increased its stake in Fabrinet by 71.8% in the second quarter. CWM LLC now owns 531 shares of the technology company’s stock valued at $130,000 after purchasing an additional 222 shares in the last quarter. Hennion & Walsh Asset Management Inc. acquired a new position in shares of Fabrinet in the 2nd quarter valued at $1,026,000. Atria Wealth Solutions Inc. increased its position in shares of Fabrinet by 84.8% in the 2nd quarter. Atria Wealth Solutions Inc. now owns 4,503 shares of the technology company’s stock valued at $1,102,000 after buying an additional 2,066 shares in the last quarter. Fifth Third Wealth Advisors LLC acquired a new stake in Fabrinet during the 2nd quarter worth $305,000. Finally, Louisiana State Employees Retirement System lifted its holdings in Fabrinet by 1.1% during the second quarter. Louisiana State Employees Retirement System now owns 18,200 shares of the technology company’s stock worth $4,455,000 after acquiring an additional 200 shares in the last quarter. 97.38% of the stock is currently owned by institutional investors and hedge funds.

Fabrinet Stock Up 0.8 %

NYSE FN opened at $247.86 on Friday. Fabrinet has a 12-month low of $159.69 and a 12-month high of $278.38. The firm’s 50 day moving average is $245.00 and its 200-day moving average is $238.16. The company has a market capitalization of $8.99 billion, a PE ratio of 29.33 and a beta of 0.92.

Fabrinet (NYSE:FN) last issued its quarterly earnings results on Monday, November 4th. The technology company reported $2.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.38 by $0.01. Fabrinet had a net margin of 10.28% and a return on equity of 18.08%. The firm had revenue of $804.20 million for the quarter, compared to analyst estimates of $771.24 million. During the same period in the previous year, the business earned $1.78 EPS. The company’s revenue was up 17.3% compared to the same quarter last year. As a group, sell-side analysts expect that Fabrinet will post 9.1 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Barclays started coverage on Fabrinet in a research report on Thursday, November 14th. They set an “equal weight” rating and a $292.00 price target on the stock. B. Riley lowered shares of Fabrinet from a “neutral” rating to a “sell” rating and cut their price target for the company from $194.00 to $178.00 in a research note on Wednesday, November 20th. JPMorgan Chase & Co. increased their price objective on shares of Fabrinet from $240.00 to $285.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Needham & Company LLC assumed coverage on shares of Fabrinet in a research report on Tuesday, November 5th. They issued a “buy” rating and a $280.00 price objective on the stock. Finally, Rosenblatt Securities upped their target price on shares of Fabrinet from $260.00 to $280.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $252.14.

Fabrinet 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.