AQR Capital Management LLC Increases Stock Position in Fabrinet (NYSE:FN)

AQR Capital Management LLC grew its position in Fabrinet (NYSE:FN - Free Report) by 177.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 93,089 shares of the technology company's stock after purchasing an additional 59,594 shares during the period. AQR Capital Management LLC owned approximately 0.26% of Fabrinet worth $20,014,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of FN. Assetmark Inc. lifted its stake in shares of Fabrinet by 12.0% in the 4th quarter. Assetmark Inc. now owns 484 shares of the technology company's stock valued at $106,000 after purchasing an additional 52 shares during the period. CIBC Asset Management Inc boosted its stake in shares of Fabrinet by 5.7% during the 4th quarter. CIBC Asset Management Inc now owns 1,113 shares of the technology company's stock worth $245,000 after acquiring an additional 60 shares in the last quarter. Nations Financial Group Inc. IA ADV grew its position in shares of Fabrinet by 2.4% during the 4th quarter. Nations Financial Group Inc. IA ADV now owns 2,941 shares of the technology company's stock valued at $647,000 after acquiring an additional 68 shares during the period. Janney Montgomery Scott LLC raised its holdings in Fabrinet by 2.6% in the 4th quarter. Janney Montgomery Scott LLC now owns 3,279 shares of the technology company's stock worth $721,000 after purchasing an additional 82 shares during the period. Finally, Transamerica Financial Advisors Inc. boosted its position in Fabrinet by 17.2% during the fourth quarter. Transamerica Financial Advisors Inc. now owns 565 shares of the technology company's stock worth $125,000 after purchasing an additional 83 shares in the last quarter. Institutional investors and hedge funds own 97.38% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on FN. Barclays set a $234.00 price objective on Fabrinet and gave the company an "equal weight" rating in a research report on Tuesday. Rosenblatt Securities upped their price objective on shares of Fabrinet from $230.00 to $250.00 and gave the stock a "buy" rating in a research report on Tuesday. JPMorgan Chase & Co. increased their price objective on shares of Fabrinet from $220.00 to $235.00 and gave the company a "neutral" rating in a report on Tuesday. Fox Advisors started coverage on shares of Fabrinet in a research note on Tuesday, February 18th. They issued an "overweight" rating and a $270.00 price target on the stock. Finally, B. Riley upgraded Fabrinet from a "sell" rating to a "neutral" rating and cut their price objective for the stock from $178.00 to $176.00 in a research note on Friday, April 4th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Fabrinet has an average rating of "Hold" and an average target price of $239.29.

Fabrinet Stock Down 3.1 %

Shares of Fabrinet stock traded down $6.55 on Friday, hitting $201.55. 575,554 shares of the company were exchanged, compared to its average volume of 620,840. Fabrinet has a 1-year low of $148.55 and a 1-year high of $281.79. The stock has a market capitalization of $7.22 billion, a price-to-earnings ratio of 22.54 and a beta of 0.95. The company has a 50-day moving average price of $199.79 and a 200 day moving average price of $219.91.

Fabrinet (NYSE:FN - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The technology company reported $2.52 EPS for the quarter, topping the consensus estimate of $2.47 by $0.05. Fabrinet had a return on equity of 18.48% and a net margin of 10.44%. The business had revenue of $871.80 million for the quarter, compared to analyst estimates of $857.12 million. During the same quarter in the previous year, the firm earned $2.39 EPS. The company's quarterly revenue was up 19.2% compared to the same quarter last year. Research 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.