Dimensional Fund Advisors LP Reduces Stake in Fabrinet (NYSE:FN)

Dimensional Fund Advisors LP reduced its holdings in shares of Fabrinet (NYSE:FN - Free Report) by 3.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 684,120 shares of the technology company's stock after selling 21,486 shares during the period. Dimensional Fund Advisors LP owned about 1.89% of Fabrinet worth $150,419,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in FN. Epoch Investment Partners Inc. boosted its holdings in Fabrinet by 1.8% during the 4th quarter. Epoch Investment Partners Inc. now owns 345,065 shares of the technology company's stock valued at $75,873,000 after acquiring an additional 6,234 shares during the period. Canada Pension Plan Investment Board grew its holdings in shares of Fabrinet by 70.6% in the fourth quarter. Canada Pension Plan Investment Board now owns 39,400 shares of the technology company's stock worth $8,663,000 after purchasing an additional 16,300 shares during the last quarter. Marshall Wace LLP increased its stake in shares of Fabrinet by 205.6% in the fourth quarter. Marshall Wace LLP now owns 30,627 shares of the technology company's stock worth $6,734,000 after buying an additional 20,606 shares during the period. Wasatch Advisors LP boosted its position in Fabrinet by 47.0% during the 4th quarter. Wasatch Advisors LP now owns 1,132,636 shares of the technology company's stock valued at $249,044,000 after buying an additional 362,064 shares during the period. Finally, Jump Financial LLC grew its holdings in Fabrinet by 266.7% in the 4th quarter. Jump Financial LLC now owns 39,411 shares of the technology company's stock worth $8,666,000 after acquiring an additional 28,664 shares during the last quarter. 97.38% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

FN has been the topic of several recent analyst reports. Barclays cut their target price on Fabrinet from $292.00 to $245.00 and set an "equal weight" rating on the stock in a research note on Tuesday, February 4th. JPMorgan Chase & Co. cut their price target on shares of 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 restated a "buy" rating and issued a $280.00 price objective on shares of Fabrinet in a report on Monday, March 17th. B. Riley raised shares of Fabrinet from a "sell" rating to a "neutral" rating and cut their target price for the company from $178.00 to $176.00 in a research note on Friday, April 4th. Finally, Fox Advisors began coverage on shares of Fabrinet in a research note on Tuesday, February 18th. They issued an "overweight" rating and a $270.00 price target for the company. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $235.86.

Fabrinet Price Performance

NYSE FN traded down $2.75 during mid-day trading on Wednesday, reaching $204.80. The stock had a trading volume of 424,671 shares, compared to its average volume of 613,758. The company has a fifty day moving average price of $198.47 and a 200 day moving average price of $222.26. Fabrinet has a 1 year low of $148.55 and a 1 year high of $281.79. The stock has a market cap of $7.34 billion, a PE ratio of 22.91 and a beta of 0.97.

Fabrinet (NYSE:FN - Get Free Report) last posted its quarterly 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 return on equity of 18.48% and a net margin of 10.44%. As a group, equities research analysts expect that Fabrinet will post 9.4 earnings per share for the current year.

Fabrinet 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.