Charles Schwab Investment Management Inc. Buys 7,156 Shares of Fabrinet (NYSE:FN)

Charles Schwab Investment Management Inc. lifted its stake in Fabrinet (NYSE:FN - Free Report) by 1.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 427,946 shares of the technology company's stock after buying an additional 7,156 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.18% of Fabrinet worth $81,451,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Commonwealth Equity Services LLC grew its holdings in Fabrinet by 12.8% in the 3rd quarter. Commonwealth Equity Services LLC now owns 3,636 shares of the technology company's stock worth $606,000 after acquiring an additional 414 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in shares of Fabrinet by 3.5% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 2,208 shares of the technology company's stock worth $368,000 after purchasing an additional 75 shares during the last quarter. Park Avenue Securities LLC purchased a new position in Fabrinet during the 3rd quarter valued at about $328,000. TD Asset Management Inc raised its position in Fabrinet by 137.4% during the 3rd quarter. TD Asset Management Inc now owns 31,574 shares of the technology company's stock valued at $5,261,000 after purchasing an additional 18,274 shares during the last quarter. Finally, TIAA Trust National Association purchased a new stake in Fabrinet in the 3rd quarter worth approximately $209,000. Institutional investors own 97.38% of the company's stock.

Analyst Ratings Changes

A number of analysts recently commented on FN shares. JPMorgan Chase & Co. raised their price target on Fabrinet from $210.00 to $212.00 and gave the stock a "neutral" rating in a research note on Thursday, April 11th. Northland Securities raised shares of Fabrinet from a "market perform" rating to an "outperform" rating and lifted their target price for the company from $200.00 to $220.00 in a research note on Thursday, March 21st. Rosenblatt Securities restated a "buy" rating and issued a $230.00 price objective on shares of Fabrinet in a report on Tuesday, February 6th. Needham & Company LLC reissued a "buy" rating and issued a $220.00 target price on shares of Fabrinet in a research report on Tuesday, May 7th. Finally, B. Riley dropped their price target on Fabrinet from $173.00 to $171.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 7th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, Fabrinet presently has an average rating of "Moderate Buy" and a consensus target price of $161.00.

Fabrinet Trading Up 5.6 %

NYSE:FN traded up $12.28 during trading hours on Tuesday, reaching $232.05. 551,059 shares of the company traded hands, compared to its average volume of 465,582. The business's 50-day moving average price is $190.01 and its two-hundred day moving average price is $187.39. Fabrinet has a 1 year low of $91.16 and a 1 year high of $232.69. The stock has a market capitalization of $8.39 billion, a P/E ratio of 30.86 and a beta of 1.04.

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.