Fabrinet (NYSE:FN) Shares Sold by Invesco Ltd.

Invesco Ltd. lowered its stake in Fabrinet (NYSE:FN - Free Report) by 36.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 214,305 shares of the technology company's stock after selling 122,839 shares during the period. Invesco Ltd. owned about 0.59% of Fabrinet worth $47,121,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Bank of Montreal Can grew its position in shares of Fabrinet by 2.5% in the 4th quarter. Bank of Montreal Can now owns 18,891 shares of the technology company's stock valued at $4,154,000 after buying an additional 466 shares during the last quarter. FMR LLC boosted its position in shares of 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 period. Grantham Mayo Van Otterloo & Co. LLC lifted its position in Fabrinet by 42.8% in the fourth quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 43,102 shares of the technology company's stock valued at $9,477,000 after purchasing an additional 12,917 shares during the period. Wells Fargo & Company MN increased its position in Fabrinet by 10.1% during the 4th quarter. Wells Fargo & Company MN now owns 47,191 shares of the technology company's stock worth $10,376,000 after purchasing an additional 4,340 shares during the period. Finally, Integrated Quantitative Investments LLC purchased a new position in shares of Fabrinet during the 4th quarter worth approximately $750,000. Hedge funds and other institutional investors own 97.38% of the company's stock.

Fabrinet Price Performance

NYSE:FN traded down $10.07 during trading hours on Monday, reaching $173.59. 131,046 shares of the company were exchanged, compared to its average volume of 603,907. The firm has a market cap of $6.22 billion, a price-to-earnings ratio of 19.48 and a beta of 0.97. The stock has a 50 day simple moving average of $203.49 and a 200 day simple moving average of $225.00. Fabrinet has a 52-week low of $148.55 and a 52-week high of $281.79.

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%. On average, analysts predict that Fabrinet will post 9.4 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on FN shares. Needham & Company LLC reiterated a "buy" rating and issued a $280.00 price objective on shares of Fabrinet in a research report on Monday, March 17th. B. Riley raised shares of Fabrinet from a "sell" rating to a "neutral" rating and decreased their price objective for the stock from $178.00 to $176.00 in a report on Friday, April 4th. Barclays reduced their price target on shares of Fabrinet from $292.00 to $245.00 and set an "equal weight" rating for the company in a research report on Tuesday, February 4th. Fox Advisors began coverage on Fabrinet in a report on Tuesday, February 18th. They issued an "overweight" rating and a $270.00 price target on the stock. Finally, Rosenblatt Securities reissued a "buy" rating and issued a $285.00 target price on shares of Fabrinet in a report on Friday, March 14th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, Fabrinet presently has an average rating of "Hold" and a consensus price target of $243.71.

About Fabrinet

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.