Capital Research Global Investors Raises Stock Holdings in Fabrinet (NYSE:FN)

Capital Research Global Investors boosted its stake in Fabrinet (NYSE:FN) by 675.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 417,020 shares of the technology company’s stock after purchasing an additional 363,228 shares during the quarter. Capital Research Global Investors owned about 1.15% of Fabrinet worth $91,694,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Fabrinet by 2.8% during the 4th quarter. Vanguard Group Inc. now owns 4,137,579 shares of the technology company’s stock valued at $909,771,000 after buying an additional 113,186 shares in the last quarter. FMR LLC increased its stake in Fabrinet by 13.1% in the fourth quarter. FMR LLC now owns 2,213,887 shares of the technology company’s stock valued at $486,789,000 after acquiring an additional 257,164 shares during the last quarter. Wasatch Advisors LP raised its position in Fabrinet by 47.0% during the fourth quarter. Wasatch Advisors LP now owns 1,132,636 shares of the technology company’s stock valued at $249,044,000 after purchasing an additional 362,064 shares in the last quarter. Geode Capital Management LLC lifted its stake in Fabrinet by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 1,006,858 shares of the technology company’s stock worth $221,430,000 after purchasing an additional 20,045 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Fabrinet by 1.4% in the 4th quarter. JPMorgan Chase & Co. now owns 669,459 shares of the technology company’s stock worth $147,201,000 after purchasing an additional 9,058 shares in the last quarter. 97.38% of the stock is currently owned by institutional investors.

Fabrinet Trading Down 1.6 %

Shares of NYSE:FN opened at $183.63 on Monday. The company has a 50-day moving average price of $203.49 and a 200-day moving average price of $225.00. The company 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 12 month low of $148.55 and a 12 month high of $281.79.

Fabrinet (NYSE:FN) last released its quarterly 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 net margin of 10.44% and a return on equity of 18.48%. As a group, research analysts forecast that Fabrinet will post 9.4 EPS for the current fiscal year.

Analysts Set New Price Targets

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