DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main Acquires New Position in Fabrinet (NYSE:FN)

DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new position in Fabrinet (NYSE:FN - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 17,805 shares of the technology company's stock, valued at approximately $3,915,000.

A number of other institutional investors also recently modified their holdings of the stock. Cetera Investment Advisers lifted its holdings in shares of Fabrinet by 10.7% during the 4th quarter. Cetera Investment Advisers now owns 11,844 shares of the technology company's stock valued at $2,604,000 after buying an additional 1,146 shares during the last quarter. Captrust Financial Advisors lifted its stake in Fabrinet by 77.2% in the fourth quarter. Captrust Financial Advisors now owns 1,878 shares of the technology company's stock valued at $413,000 after acquiring an additional 818 shares during the last quarter. Benjamin Edwards Inc. grew its position in Fabrinet by 8.7% in the fourth quarter. Benjamin Edwards Inc. now owns 2,887 shares of the technology company's stock worth $635,000 after acquiring an additional 231 shares in the last quarter. Algert Global LLC increased its stake in shares of Fabrinet by 92.9% during the 4th quarter. Algert Global LLC now owns 55,296 shares of the technology company's stock worth $12,158,000 after purchasing an additional 26,633 shares during the last quarter. Finally, Alyeska Investment Group L.P. raised its holdings in shares of Fabrinet by 66.7% during the 4th quarter. Alyeska Investment Group L.P. now owns 263,067 shares of the technology company's stock valued at $57,843,000 after purchasing an additional 105,230 shares in the last quarter. Institutional investors and hedge funds own 97.38% of the company's stock.

Fabrinet Stock Down 3.1 %

Shares of NYSE FN opened at $201.55 on Friday. Fabrinet has a 12 month low of $148.55 and a 12 month high of $281.79. The company has a market cap of $7.22 billion, a P/E ratio of 22.54 and a beta of 0.95. The business's 50 day moving average is $199.79 and its two-hundred day moving average is $219.91.

Fabrinet (NYSE:FN - Get Free Report) last released its earnings results on Monday, May 5th. The technology company reported $2.52 EPS for the quarter, beating the consensus estimate of $2.47 by $0.05. The firm had revenue of $871.80 million during the quarter, compared to analysts' expectations of $857.12 million. Fabrinet had a net margin of 10.44% and a return on equity of 18.48%. The business's quarterly revenue was up 19.2% compared to the same quarter last year. During the same period in the prior year, the company earned $2.39 EPS. Sell-side analysts expect that Fabrinet will post 9.4 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

FN has been the topic of several analyst reports. Fox Advisors started coverage on shares of Fabrinet in a research report on Tuesday, February 18th. They set an "overweight" rating and a $270.00 target price on the stock. Barclays set a $234.00 price objective on Fabrinet and gave the company an "equal weight" rating in a report on Tuesday. Needham & Company LLC restated a "buy" rating and issued a $280.00 target price on shares of Fabrinet in a report on Tuesday, May 6th. Rosenblatt Securities increased their price target on Fabrinet from $230.00 to $250.00 and gave the company a "buy" rating in a report on Tuesday, May 6th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Fabrinet from $220.00 to $235.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $239.29.

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.

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