Franklin Resources Inc. Has $30.15 Million Stake in Fabrinet (NYSE:FN)

Franklin Resources Inc. grew its position in Fabrinet (NYSE:FN) by 2.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 137,109 shares of the technology company’s stock after acquiring an additional 3,318 shares during the period. Franklin Resources Inc. owned about 0.38% of Fabrinet worth $30,148,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of FN. Barclays PLC lifted its stake in 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 purchasing an additional 52,042 shares during the last quarter. Salem Investment Counselors Inc. acquired a new stake in shares of Fabrinet during the 4th quarter worth approximately $518,000. Janney Montgomery Scott LLC raised its holdings in shares of Fabrinet by 2.6% during 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 period. JPMorgan Chase & Co. raised its position 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 worth $156,145,000 after purchasing an additional 24,439 shares during the period. Finally, Harbor Capital Advisors Inc. increased its position 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 acquiring an additional 3,468 shares in the last quarter. Institutional investors and hedge funds own 97.38% of the company’s stock.

Fabrinet Stock Down 0.8 %

Shares of NYSE:FN opened at $171.11 on Friday. The firm has a 50 day moving average of $209.73 and a 200 day moving average of $228.93. Fabrinet has a 52 week low of $148.55 and a 52 week high of $281.79. The company has a market capitalization of $6.21 billion, a price-to-earnings ratio of 19.14 and a beta of 0.89.

Fabrinet (NYSE:FN) last released its earnings results on Monday, February 3rd. The technology company reported $2.38 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%. On average, sell-side analysts expect that Fabrinet will post 9.4 EPS for the current year.

Analyst Ratings Changes

A number of research firms have recently weighed in on FN. JPMorgan Chase & Co. reduced 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. Fox Advisors began coverage on Fabrinet in a research report on Tuesday, February 18th. They set an “overweight” rating and a $270.00 price target for the company. Needham & Company LLC reiterated a “buy” rating and set a $280.00 price objective on shares of Fabrinet in a research report on Monday, March 17th. Rosenblatt Securities restated a “buy” rating and issued a $285.00 target price on shares of Fabrinet in a report on Friday, March 14th. Finally, B. Riley upgraded shares of Fabrinet from a “sell” rating to a “neutral” rating and cut their price target for the company from $178.00 to $176.00 in a report on Friday. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $250.14.

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.