Fabrinet (NYSE:FN) Shares Purchased by Barclays PLC

Barclays PLC boosted its position in Fabrinet (NYSE:FN - Free Report) by 28.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 88,801 shares of the technology company's stock after acquiring an additional 19,673 shares during the period. Barclays PLC owned about 0.24% of Fabrinet worth $19,525,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of FN. Norges Bank purchased a new stake in Fabrinet in the fourth quarter valued at approximately $95,084,000. Wedge Capital Management L L P NC purchased a new stake in shares of Fabrinet during the 4th quarter valued at $63,222,000. FMR LLC increased its holdings in shares of Fabrinet by 13.1% during the 4th quarter. FMR LLC now owns 2,213,887 shares of the technology company's stock worth $486,789,000 after buying an additional 257,164 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of Fabrinet by 205.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 267,228 shares of the technology company's stock worth $58,758,000 after buying an additional 179,679 shares during the last quarter. Finally, Stephens Investment Management Group LLC purchased a new position in shares of Fabrinet in the 4th quarter worth $28,218,000. 97.38% of the stock is currently owned by institutional investors and hedge funds.

Fabrinet Stock Down 0.5 %

Shares of FN traded down $1.04 during mid-day trading on Friday, reaching $197.96. 108,690 shares of the stock traded hands, compared to its average volume of 826,601. The stock has a fifty day simple moving average of $200.79 and a 200 day simple moving average of $223.63. Fabrinet has a 12-month low of $148.55 and a 12-month high of $281.79. The firm has a market cap of $7.09 billion, a price-to-earnings ratio of 22.14 and a beta of 0.97.

Fabrinet (NYSE:FN - Get Free Report) last released 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%. On average, equities research analysts expect that Fabrinet will post 9.4 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have commented on FN. JPMorgan Chase & Co. dropped their price target on Fabrinet from $265.00 to $220.00 and set a "neutral" rating for the company in a research note on Thursday, April 17th. Barclays cut their price target 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. Fox Advisors assumed coverage on shares of Fabrinet in a research note on Tuesday, February 18th. They set an "overweight" rating and a $270.00 price objective for the company. B. Riley raised shares of Fabrinet from a "sell" rating to a "neutral" rating and cut their target price for the company from $178.00 to $176.00 in a research note on Friday, April 4th. Finally, Needham & Company LLC restated a "buy" rating and set a $280.00 target price on shares of Fabrinet in a report on Monday, March 17th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Fabrinet presently has an average rating of "Hold" and a consensus price target of $235.86.

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.