Northern Trust Corp Has $109.80 Million Position in Fabrinet (NYSE:FN)

Northern Trust Corp boosted its stake in Fabrinet (NYSE:FN - Free Report) by 14.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 499,356 shares of the technology company's stock after acquiring an additional 63,686 shares during the period. Northern Trust Corp owned 1.38% of Fabrinet worth $109,798,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. Huntington National Bank lifted its stake in Fabrinet by 66.7% in the fourth quarter. Huntington National Bank now owns 230 shares of the technology company's stock valued at $51,000 after buying an additional 92 shares during the last quarter. Quarry LP raised its position in Fabrinet by 315.8% in the fourth quarter. Quarry LP now owns 237 shares of the technology company's stock worth $52,000 after acquiring an additional 180 shares in the last quarter. IFP Advisors Inc grew its stake 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 bought a new position in shares of Fabrinet in the third quarter valued at $70,000. Finally, Assetmark Inc. lifted its position in shares of Fabrinet by 12.0% during the 4th quarter. Assetmark Inc. now owns 484 shares of the technology company's stock valued at $106,000 after acquiring an additional 52 shares during the last quarter. 97.38% of the stock is owned by institutional investors and hedge funds.

Fabrinet Price Performance

Shares of FN traded down $5.93 during trading hours on Friday, hitting $202.17. The stock had a trading volume of 212,275 shares, compared to its average volume of 618,802. The stock has a market capitalization of $7.24 billion, a price-to-earnings ratio of 22.61 and a beta of 0.95. Fabrinet has a 52 week low of $148.55 and a 52 week high of $281.79. The company's fifty day moving average is $199.57 and its two-hundred day moving average is $220.41.

Fabrinet (NYSE:FN - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The technology company reported $2.52 EPS for the quarter, beating analysts' consensus estimates of $2.47 by $0.05. The company had revenue of $871.80 million during the quarter, compared to analysts' expectations of $857.12 million. Fabrinet had a return on equity of 18.48% and a net margin of 10.44%. Fabrinet's revenue was up 19.2% on a year-over-year basis. During the same period in the prior year, the business posted $2.39 EPS. Equities analysts predict that Fabrinet will post 9.4 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have commented on FN shares. Barclays set a $234.00 price objective on shares of Fabrinet and gave the company an "equal weight" rating in a research note on Tuesday. B. Riley raised Fabrinet from a "sell" rating to a "neutral" rating and reduced their price objective for the stock from $178.00 to $176.00 in a research note on Friday, April 4th. Fox Advisors initiated coverage on Fabrinet in a report on Tuesday, February 18th. They issued an "overweight" rating and a $270.00 target price on the stock. Rosenblatt Securities boosted their price objective on shares of Fabrinet from $230.00 to $250.00 and gave the company a "buy" rating in a research report on Tuesday. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $280.00 target price on shares of Fabrinet in a research report on Tuesday. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $239.29.

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.