MetLife Investment Management LLC Has $9.19 Million Stake in Fabrinet (NYSE:FN)

MetLife Investment Management LLC lifted its position in Fabrinet (NYSE:FN - Free Report) by 7.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 41,775 shares of the technology company's stock after acquiring an additional 3,016 shares during the period. MetLife Investment Management LLC owned approximately 0.12% of Fabrinet worth $9,185,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of FN. Norges Bank bought a new position in Fabrinet during the 4th quarter worth approximately $95,084,000. Capital Research Global Investors boosted its stake in 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 acquiring an additional 363,228 shares during the last quarter. Wasatch Advisors LP boosted its stake in Fabrinet by 47.0% during the 4th quarter. Wasatch Advisors LP now owns 1,132,636 shares of the technology company's stock worth $249,044,000 after acquiring an additional 362,064 shares during the last quarter. Wedge Capital Management L L P NC bought a new position in Fabrinet during the 4th quarter worth approximately $63,222,000. Finally, FMR LLC boosted its stake in Fabrinet by 13.1% during the 4th quarter. FMR LLC now owns 2,213,887 shares of the technology company's stock worth $486,789,000 after acquiring an additional 257,164 shares during the last quarter. Institutional investors own 97.38% of the company's stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Barclays reduced their price objective on shares of 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 research note on Thursday, April 17th. Needham & Company LLC reaffirmed a "buy" rating and issued a $280.00 price target on shares of Fabrinet in a research note on Monday, March 17th. 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 on the stock. Finally, Rosenblatt Securities cut their price target on shares of Fabrinet from $280.00 to $230.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $235.86.

Fabrinet Trading Up 0.8 %

Shares of NYSE FN traded up $1.54 during midday trading on Friday, reaching $200.54. The company's stock had a trading volume of 399,025 shares, compared to its average volume of 614,359. Fabrinet has a fifty-two week low of $148.55 and a fifty-two week high of $281.79. The stock has a market capitalization of $7.19 billion, a price-to-earnings ratio of 22.43 and a beta of 0.97. The stock has a 50 day simple moving average of $199.99 and a 200-day simple moving average of $222.91.

Fabrinet (NYSE:FN - Get Free Report) last posted its quarterly earnings data on Monday, February 3rd. The technology company reported $2.38 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.48 by ($0.10). Fabrinet had a net margin of 10.44% and a return on equity of 18.48%. As a group, equities analysts anticipate that Fabrinet will post 9.4 EPS for the current year.

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.