Fabrinet (NYSE:FN) Shares Bought by Baillie Gifford & Co.

Baillie Gifford & Co. boosted its holdings in Fabrinet (NYSE:FN - Free Report) by 190.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 563,805 shares of the technology company's stock after purchasing an additional 369,389 shares during the quarter. Baillie Gifford & Co. owned about 1.55% of Fabrinet worth $107,309,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Yorktown Management & Research Co Inc purchased a new stake in Fabrinet in the fourth quarter worth about $324,000. Allspring Global Investments Holdings LLC grew its holdings in shares of Fabrinet by 214.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 56,788 shares of the technology company's stock valued at $10,809,000 after buying an additional 38,704 shares during the last quarter. Silvant Capital Management LLC purchased a new stake in shares of Fabrinet during the fourth quarter valued at approximately $1,251,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Fabrinet by 2.4% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 16,735 shares of the technology company's stock valued at $3,185,000 after buying an additional 400 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale grew its holdings in shares of Fabrinet by 2,873.6% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 62,088 shares of the technology company's stock valued at $12,120,000 after buying an additional 60,000 shares during the last quarter. Hedge funds and other institutional investors own 97.38% of the company's stock.

Wall Street Analyst Weigh In

FN has been the topic of a number of recent analyst reports. Northland Securities upgraded shares of Fabrinet from a "market perform" rating to an "outperform" rating and increased their price target for the company from $200.00 to $220.00 in a report on Thursday, March 21st. JPMorgan Chase & Co. downgraded shares of Fabrinet from an "overweight" rating to a "neutral" rating and increased their price objective for the company from $185.00 to $210.00 in a research report on Monday, January 8th. Needham & Company LLC lowered their price objective on shares of Fabrinet from $230.00 to $220.00 and set a "buy" rating on the stock in a research report on Friday, March 22nd. Finally, Rosenblatt Securities restated a "buy" rating and set a $230.00 price objective on shares of Fabrinet in a research report on Tuesday, February 6th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $159.29.

Insider Transactions at Fabrinet

In other news, Director Rollance E. Olson sold 10,000 shares of the stock in a transaction on Monday, February 12th. The shares were sold at an average price of $205.52, for a total value of $2,055,200.00. Following the completion of the sale, the director now directly owns 25,981 shares of the company's stock, valued at $5,339,615.12. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.51% of the company's stock.

Fabrinet Stock Down 6.4 %

FN traded down $12.07 during trading on Wednesday, hitting $176.94. The company's stock had a trading volume of 947,599 shares, compared to its average volume of 450,281. Fabrinet has a one year low of $90.19 and a one year high of $229.02. The firm has a market cap of $6.42 billion, a PE ratio of 25.89 and a beta of 1.04. The business's 50 day simple moving average is $200.50 and its 200-day simple moving average is $185.04.

Fabrinet (NYSE:FN - Get Free Report) last released its quarterly earnings results on Monday, February 5th. The technology company reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.84 by $0.05. Fabrinet had a net margin of 9.35% and a return on equity of 17.27%. The business had revenue of $712.69 million for the quarter, compared to the consensus estimate of $699.76 million. Equities research analysts expect that Fabrinet will post 7.64 EPS for the current fiscal 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.