Capital International Investors Sells 34,562 Shares of Fabrinet (NYSE:FN)

Capital International Investors reduced its position in shares of Fabrinet (NYSE:FN) by 2.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,259,597 shares of the technology company’s stock after selling 34,562 shares during the period. Capital International Investors’ holdings in Fabrinet were worth $276,960,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of FN. Barclays PLC grew its stake in shares of Fabrinet by 304.6% in the third quarter. Barclays PLC now owns 69,128 shares of the technology company’s stock worth $16,345,000 after acquiring an additional 52,042 shares during the last quarter. Salem Investment Counselors Inc. bought a new position in shares of Fabrinet during the 4th quarter worth about $518,000. Janney Montgomery Scott LLC raised its position 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 buying an additional 82 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Fabrinet by 3.8% in the third quarter. JPMorgan Chase & Co. now owns 660,401 shares of the technology company’s stock valued at $156,145,000 after buying an additional 24,439 shares during the period. Finally, Harbor Capital Advisors Inc. grew its position in 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 buying an additional 3,468 shares in the last quarter. 97.38% of the stock is currently owned by institutional investors and hedge funds.

Fabrinet Trading Down 1.6 %

NYSE FN opened at $183.63 on Friday. The firm has a market cap of $6.58 billion, a price-to-earnings ratio of 20.54 and a beta of 0.97. Fabrinet has a 1-year low of $148.55 and a 1-year high of $281.79. The company has a 50 day moving average of $203.49 and a 200-day moving average of $225.13.

Fabrinet (NYSE:FN) last issued its quarterly earnings data 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, analysts forecast that Fabrinet will post 9.4 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Fox Advisors began coverage on Fabrinet in a research report on Tuesday, February 18th. They issued an “overweight” rating and a $270.00 price objective for the company. JPMorgan Chase & Co. lowered their price target on shares of Fabrinet from $265.00 to $220.00 and set a “neutral” rating on the stock in a report on Thursday. B. Riley raised shares of Fabrinet from a “sell” rating to a “neutral” rating and reduced their price objective for the stock from $178.00 to $176.00 in a report on Friday, April 4th. Needham & Company LLC reissued a “buy” rating and issued a $280.00 price target on shares of Fabrinet in a research report on Monday, March 17th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $285.00 price objective on shares of Fabrinet in a report on Friday, March 14th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Fabrinet presently has an average rating of “Hold” and an average target price of $243.71.

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.