Fabrinet (NYSE:FN) is Analog Century Management LP's 9th Largest Position

Analog Century Management LP raised its holdings in Fabrinet (NYSE:FN - Free Report) by 23.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 316,662 shares of the technology company's stock after buying an additional 60,683 shares during the quarter. Fabrinet comprises 4.7% of Analog Century Management LP's holdings, making the stock its 9th largest position. Analog Century Management LP owned 0.87% of Fabrinet worth $69,628,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Barclays PLC grew its holdings in Fabrinet by 304.6% during 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 period. Salem Investment Counselors Inc. acquired a new stake in Fabrinet in the fourth quarter valued at approximately $518,000. Janney Montgomery Scott LLC grew its holdings in Fabrinet by 2.6% in the fourth quarter. Janney Montgomery Scott LLC now owns 3,279 shares of the technology company's stock valued at $721,000 after purchasing an additional 82 shares during the period. JPMorgan Chase & Co. grew its holdings in 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 purchasing an additional 24,439 shares during the period. Finally, Harbor Capital Advisors Inc. grew its holdings in Fabrinet by 33.2% in the fourth quarter. Harbor Capital Advisors Inc. now owns 13,901 shares of the technology company's stock valued at $3,057,000 after purchasing an additional 3,468 shares during the period. 97.38% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

FN has been the topic of several research analyst reports. Rosenblatt Securities dropped their price objective on Fabrinet from $280.00 to $230.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. JPMorgan Chase & Co. dropped their price objective on Fabrinet from $265.00 to $220.00 and set a "neutral" rating on the stock in a report on Thursday, April 17th. Needham & Company LLC reissued a "buy" rating and issued a $280.00 price objective on shares of Fabrinet in a report on Monday, March 17th. B. Riley raised Fabrinet from a "sell" rating to a "neutral" rating and dropped their price objective for the company from $178.00 to $176.00 in a report on Friday, April 4th. Finally, Fox Advisors initiated coverage on Fabrinet in a research note on Tuesday, February 18th. They issued an "overweight" rating and a $270.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $235.86.

Fabrinet Price Performance

Shares of NYSE:FN traded up $1.64 during midday trading on Tuesday, hitting $204.67. The company had a trading volume of 106,459 shares, compared to its average volume of 611,708. Fabrinet has a twelve month low of $148.55 and a twelve month high of $281.79. The stock has a market cap of $7.33 billion, a price-to-earnings ratio of 22.86 and a beta of 0.97. The business's 50-day simple moving average is $199.28 and its 200-day simple moving average is $222.48.

Fabrinet (NYSE:FN - Get Free Report) last posted its quarterly earnings results on Monday, February 3rd. The technology company reported $2.38 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%. As a group, sell-side analysts forecast that Fabrinet will post 9.4 EPS for the current year.

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.