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

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

Several other institutional investors have also modified their holdings of the stock. Huntington National Bank lifted its stake in Fabrinet by 66.7% in the fourth quarter. Huntington National Bank now owns 230 shares of the technology company's stock worth $51,000 after purchasing an additional 92 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of Fabrinet during the 3rd quarter worth approximately $61,000. IFP Advisors Inc boosted its holdings in Fabrinet by 576.2% during the 4th quarter. IFP Advisors Inc now owns 284 shares of the technology company's stock valued at $63,000 after acquiring an additional 242 shares during the period. Wilmington Savings Fund Society FSB bought a new position in Fabrinet in the 3rd quarter valued at $70,000. Finally, Assetmark Inc. increased 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 period. 97.38% of the stock is owned by institutional investors.

Fabrinet Stock Up 0.8 %

Shares of NYSE FN traded up $1.54 during midday trading on Friday, reaching $200.54. 399,025 shares of the company's stock traded hands, compared to its average volume of 612,774. The company has a market cap of $7.19 billion, a price-to-earnings ratio of 22.43 and a beta of 0.97. The stock's 50 day simple moving average is $199.99 and its 200-day simple moving average is $223.32. Fabrinet has a one year low of $148.55 and a one year high of $281.79.

Fabrinet (NYSE:FN - Get Free Report) last announced its 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 net margin of 10.44% and a return on equity of 18.48%. Equities analysts predict that Fabrinet will post 9.4 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Barclays lowered their target price on shares of Fabrinet from $292.00 to $245.00 and set an "equal weight" rating for the company in a research note on Tuesday, February 4th. Fox Advisors assumed coverage on shares of 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. reduced their target price on shares of Fabrinet from $265.00 to $220.00 and set a "neutral" rating on the stock in a research report on Thursday, April 17th. Needham & Company LLC reiterated a "buy" rating and issued a $280.00 price target on shares of Fabrinet in a report on Monday, March 17th. Finally, Rosenblatt Securities dropped their price objective on Fabrinet from $280.00 to $230.00 and set a "buy" rating on the stock in a research note on Tuesday. Four research 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 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.