Fabrinet (NYSE:FN) Shares Purchased by Wells Fargo & Company MN

Wells Fargo & Company MN grew its position in shares of Fabrinet (NYSE:FN - Free Report) by 10.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 47,191 shares of the technology company's stock after purchasing an additional 4,340 shares during the period. Wells Fargo & Company MN owned approximately 0.13% of Fabrinet worth $10,376,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in FN. Huntington National Bank raised its position in shares of Fabrinet by 66.7% in the 4th quarter. Huntington National Bank now owns 230 shares of the technology company's stock valued at $51,000 after purchasing an additional 92 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in Fabrinet during the 3rd quarter worth $61,000. IFP Advisors Inc increased its position in shares of Fabrinet by 576.2% in the 4th quarter. IFP Advisors Inc now owns 284 shares of the technology company's stock worth $63,000 after purchasing an additional 242 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Fabrinet in the 3rd quarter valued at about $70,000. Finally, Assetmark Inc. lifted its position in shares of Fabrinet by 12.0% during 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 last quarter. 97.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

FN has been the subject of several research analyst reports. Barclays lowered their price objective on Fabrinet from $292.00 to $245.00 and set an "equal weight" rating for the company in a report on Tuesday, February 4th. Rosenblatt Securities dropped their target price on shares of Fabrinet from $280.00 to $230.00 and set a "buy" rating on the stock in a report on Tuesday. JPMorgan Chase & Co. decreased their price target on shares of Fabrinet from $265.00 to $220.00 and set a "neutral" rating for the company in a report on Thursday, April 17th. Needham & Company LLC reiterated a "buy" rating and set a $280.00 price objective on shares of Fabrinet in a research note on Monday, March 17th. Finally, B. Riley upgraded Fabrinet from a "sell" rating to a "neutral" rating and decreased their target price for the company from $178.00 to $176.00 in a research note on Friday, April 4th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $235.86.

Fabrinet Stock Up 2.8 %

NYSE FN traded up $4.87 on Tuesday, hitting $177.37. The stock had a trading volume of 546,627 shares, compared to its average volume of 608,024. The company's 50-day moving average is $202.00 and its two-hundred day moving average is $224.18. The stock has a market cap of $6.36 billion, a price-to-earnings ratio of 19.84 and a beta of 0.97. 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 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%. On average, sell-side analysts anticipate that Fabrinet will post 9.4 earnings per share 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.