Wasatch Advisors LP Boosts Stake in Fabrinet (NYSE:FN)

Wasatch Advisors LP increased its stake in Fabrinet (NYSE:FN) by 47.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,132,636 shares of the technology company’s stock after acquiring an additional 362,064 shares during the period. Fabrinet comprises approximately 1.2% of Wasatch Advisors LP’s portfolio, making the stock its 25th largest position. Wasatch Advisors LP owned about 3.12% of Fabrinet worth $249,044,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Huntington National Bank raised its stake in shares of Fabrinet by 66.7% during the fourth quarter. Huntington National Bank now owns 230 shares of the technology company’s stock worth $51,000 after acquiring an additional 92 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of Fabrinet during the 3rd quarter valued at $61,000. IFP Advisors Inc raised its position in Fabrinet by 576.2% in the 4th quarter. IFP Advisors Inc now owns 284 shares of the technology company’s stock worth $63,000 after purchasing an additional 242 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in Fabrinet in the 3rd quarter worth $70,000. Finally, Assetmark Inc. lifted its stake in Fabrinet by 12.0% in the fourth quarter. Assetmark Inc. now owns 484 shares of the technology company’s stock worth $106,000 after purchasing an additional 52 shares during the last quarter. Institutional investors own 97.38% of the company’s stock.

Fabrinet Stock Performance

Shares of FN stock opened at $188.06 on Wednesday. The business’s 50 day moving average price is $205.04 and its 200-day moving average price is $226.08. The firm has a market cap of $6.74 billion, a P/E ratio of 21.04 and a beta of 0.97. Fabrinet has a fifty-two week low of $148.55 and a fifty-two week high of $281.79.

Fabrinet (NYSE:FN) last posted 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 return on equity of 18.48% and a net margin of 10.44%. As a group, equities analysts predict that Fabrinet will post 9.4 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on FN shares. JPMorgan Chase & Co. reduced their price objective on Fabrinet from $275.00 to $265.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 4th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $285.00 price target on shares of Fabrinet in a research note on Friday, March 14th. B. Riley upgraded Fabrinet from a “sell” rating to a “neutral” rating and lowered their price objective for the company from $178.00 to $176.00 in a research report on Friday, April 4th. Barclays cut their target price on shares of Fabrinet from $292.00 to $245.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 4th. Finally, Fox Advisors started coverage on shares of Fabrinet in a report on Tuesday, February 18th. They set an “overweight” rating and a $270.00 price target for the company. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Fabrinet has a consensus rating of “Hold” and an average price target of $250.14.

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.