Fabrinet (NYSE:FN) Shares Acquired by Smartleaf Asset Management LLC

Smartleaf Asset Management LLC increased its stake in Fabrinet (NYSE:FN) by 237.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 625 shares of the technology company’s stock after acquiring an additional 440 shares during the period. Smartleaf Asset Management LLC’s holdings in Fabrinet were worth $134,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Wellington Management Group LLP raised its stake in shares of Fabrinet by 1.7% in the third quarter. Wellington Management Group LLP now owns 1,169,162 shares of the technology company’s stock valued at $276,437,000 after acquiring an additional 19,677 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Fabrinet by 7.6% during the 3rd quarter. Geode Capital Management LLC now owns 986,813 shares of the technology company’s stock worth $233,359,000 after buying an additional 69,554 shares during the last quarter. Whale Rock Capital Management LLC lifted its holdings in Fabrinet by 25.8% during the 3rd quarter. Whale Rock Capital Management LLC now owns 855,767 shares of the technology company’s stock worth $202,338,000 after buying an additional 175,684 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Fabrinet by 3.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 660,401 shares of the technology company’s stock worth $156,145,000 after buying an additional 24,439 shares during the last quarter. Finally, Baillie Gifford & Co. lifted its holdings in Fabrinet by 10.7% during the 4th quarter. Baillie Gifford & Co. now owns 553,038 shares of the technology company’s stock worth $121,602,000 after buying an additional 53,250 shares during the last quarter. 97.38% of the stock is currently owned by institutional investors and hedge funds.

Fabrinet Stock Performance

FN opened at $194.45 on Friday. The business’s 50-day simple moving average is $220.89 and its 200-day simple moving average is $233.00. Fabrinet has a one year low of $159.69 and a one year high of $281.79. The stock has a market capitalization of $7.05 billion, a P/E ratio of 21.75 and a beta of 0.89.

Fabrinet (NYSE:FN) last issued its quarterly earnings results on Monday, February 3rd. The technology company reported $2.38 earnings per share (EPS) 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 EPS for the current fiscal year.

Analysts Set New Price Targets

FN has been the subject of a number of recent analyst reports. B. Riley downgraded Fabrinet from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $194.00 to $178.00 in a report on Wednesday, November 20th. Barclays decreased their price target on Fabrinet from $292.00 to $245.00 and set an “equal weight” rating for the company in a report on Tuesday, February 4th. Fox Advisors initiated coverage on Fabrinet in a report on Tuesday, February 18th. They set an “overweight” rating and a $270.00 price target for the company. Needham & Company LLC reaffirmed a “buy” rating and set a $280.00 price target on shares of Fabrinet in a report on Tuesday, February 4th. Finally, JPMorgan Chase & Co. cut their target price on Fabrinet from $275.00 to $265.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average 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.