Hancock Whitney Corp Acquires 2,151 Shares of Fabrinet (NYSE:FN)

Hancock Whitney Corp raised its holdings in shares of Fabrinet (NYSE:FN - Free Report) by 228.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,092 shares of the technology company's stock after purchasing an additional 2,151 shares during the quarter. Hancock Whitney Corp's holdings in Fabrinet were worth $680,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Norges Bank acquired a new stake in shares of Fabrinet in the 4th quarter worth $95,084,000. Capital Research Global Investors grew its stake in shares of Fabrinet by 675.2% during the 4th quarter. Capital Research Global Investors now owns 417,020 shares of the technology company's stock worth $91,694,000 after purchasing an additional 363,228 shares during the period. Wasatch Advisors LP raised its holdings in Fabrinet by 47.0% in the 4th quarter. Wasatch Advisors LP now owns 1,132,636 shares of the technology company's stock worth $249,044,000 after purchasing an additional 362,064 shares during the period. Wedge Capital Management L L P NC acquired a new position in shares of Fabrinet during the 4th quarter worth about $63,222,000. Finally, FMR LLC raised its stake in Fabrinet by 13.1% in the 4th quarter. FMR LLC now owns 2,213,887 shares of the technology company's stock valued at $486,789,000 after purchasing an additional 257,164 shares during the last quarter. Hedge funds and other institutional investors own 97.38% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on FN shares. Rosenblatt Securities cut their target price on Fabrinet from $280.00 to $230.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. 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. JPMorgan Chase & Co. decreased their price objective on shares of Fabrinet from $265.00 to $220.00 and set a "neutral" rating for the company in a research note on Thursday, April 17th. Barclays dropped their target price on Fabrinet from $292.00 to $245.00 and set an "equal weight" rating on the stock in a report on Tuesday, February 4th. Finally, 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. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $235.86.

Fabrinet Trading Up 4.6 %

NYSE:FN traded up $9.79 during trading hours on Friday, hitting $220.55. 138,309 shares of the company traded hands, compared to its average volume of 612,271. The firm has a 50-day moving average of $198.39 and a 200 day moving average of $221.89. Fabrinet has a twelve month low of $148.55 and a twelve month high of $281.79. The stock has a market capitalization of $7.90 billion, a price-to-earnings ratio of 24.64 and a beta of 0.97.

Fabrinet (NYSE:FN - Get Free Report) last released 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%. Equities research analysts predict that Fabrinet will post 9.4 earnings per share for the current fiscal 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.