Fabrinet (NYSE:FN) Shares Purchased by Legato Capital Management LLC

Legato Capital Management LLC boosted its holdings in shares of Fabrinet (NYSE:FN) by 2.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,378 shares of the technology company’s stock after buying an additional 251 shares during the period. Legato Capital Management LLC’s holdings in Fabrinet were worth $2,062,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FN. Barclays PLC lifted its stake in shares of Fabrinet by 304.6% during the third quarter. Barclays PLC now owns 69,128 shares of the technology company’s stock worth $16,345,000 after buying an additional 52,042 shares during the period. nVerses Capital LLC acquired a new stake in Fabrinet during the 3rd quarter worth about $567,000. Charles Schwab Investment Management Inc. grew its stake in Fabrinet by 14.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 480,550 shares of the technology company’s stock valued at $113,621,000 after purchasing an additional 61,491 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Fabrinet in the third quarter valued at about $2,398,000. Finally, Pathstone Holdings LLC raised its stake in shares of Fabrinet by 40.7% in the third quarter. Pathstone Holdings LLC now owns 8,219 shares of the technology company’s stock worth $1,943,000 after purchasing an additional 2,378 shares during the last quarter. 97.38% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on FN shares. B. Riley downgraded shares of Fabrinet from a “neutral” rating to a “sell” rating and cut their price target for the stock from $194.00 to $178.00 in a report on Wednesday, November 20th. Rosenblatt Securities increased their price objective on shares of Fabrinet from $280.00 to $285.00 and gave the stock a “buy” rating in a research note on Tuesday, February 4th. JPMorgan Chase & Co. decreased their target price on shares of 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 reaffirmed a “buy” rating and set a $280.00 price target on shares of Fabrinet in a research report on Tuesday, February 4th. Finally, Barclays reduced their price objective on Fabrinet from $292.00 to $245.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 4th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $243.29.

Fabrinet Stock Performance

FN opened at $207.64 on Wednesday. The company has a fifty day moving average of $229.20 and a two-hundred day moving average of $233.69. The stock has a market capitalization of $7.53 billion, a price-to-earnings ratio of 23.23 and a beta of 0.92. Fabrinet has a fifty-two week low of $159.69 and a fifty-two week high of $281.79.

Fabrinet (NYSE:FN) last announced 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 net margin of 10.44% and a return on equity of 18.48%. On average, equities research analysts forecast that Fabrinet will post 9.4 earnings per share 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.