Fabrinet (NYSE:FN) Shares Bought by Oberweis Asset Management Inc.

Oberweis Asset Management Inc. lifted its stake in shares of Fabrinet (NYSE:FN - Free Report) by 11.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 63,800 shares of the technology company's stock after acquiring an additional 6,600 shares during the quarter. Oberweis Asset Management Inc. owned approximately 0.18% of Fabrinet worth $14,028,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the company. Hancock Whitney Corp raised its stake in Fabrinet by 228.6% in the fourth quarter. Hancock Whitney Corp now owns 3,092 shares of the technology company's stock worth $680,000 after buying an additional 2,151 shares in the last quarter. Voya Investment Management LLC boosted its position in Fabrinet by 27.5% during the fourth quarter. Voya Investment Management LLC now owns 24,437 shares of the technology company's stock valued at $5,373,000 after purchasing an additional 5,271 shares in the last quarter. Analog Century Management LP grew its stake in Fabrinet by 23.7% in the fourth quarter. Analog Century Management LP now owns 316,662 shares of the technology company's stock valued at $69,628,000 after purchasing an additional 60,683 shares during the last quarter. Hood River Capital Management LLC raised its holdings in Fabrinet by 51.0% in the fourth quarter. Hood River Capital Management LLC now owns 228,742 shares of the technology company's stock worth $50,296,000 after purchasing an additional 77,238 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. purchased a new stake in shares of Fabrinet during the fourth quarter valued at about $1,945,000. Hedge funds and other institutional investors own 97.38% of the company's stock.

Analyst Ratings Changes

FN has been the topic of a number of analyst reports. JPMorgan Chase & Co. cut their price objective on shares of Fabrinet from $265.00 to $220.00 and set a "neutral" rating on the stock in a research report on Thursday, April 17th. Needham & Company LLC reiterated a "buy" rating and set a $280.00 price objective on shares of Fabrinet in a report on Monday, March 17th. Fox Advisors started coverage on Fabrinet in a research report on Tuesday, February 18th. They issued an "overweight" rating and a $270.00 price objective for the company. B. Riley upgraded shares of Fabrinet from a "sell" rating to a "neutral" rating and cut their price objective for the company from $178.00 to $176.00 in a report on Friday, April 4th. 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 report on Tuesday, April 22nd. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, Fabrinet presently has a consensus rating of "Hold" and a consensus target price of $235.86.

Fabrinet Stock Performance

Shares of NYSE FN traded up $4.16 during midday trading on Tuesday, reaching $207.19. 133,459 shares of the stock were exchanged, compared to its average volume of 611,774. The stock has a market capitalization of $7.42 billion, a P/E ratio of 23.16 and a beta of 0.97. The company has a 50 day simple moving average of $199.28 and a 200 day simple moving average of $222.48. Fabrinet has a twelve month low of $148.55 and a twelve month high of $281.79.

Fabrinet (NYSE:FN - Get Free Report) last posted its earnings results on Monday, February 3rd. The technology company reported $2.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.48 by ($0.10). Fabrinet had a return on equity of 18.48% and a net margin of 10.44%. On average, research analysts expect that Fabrinet will post 9.4 earnings per share 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.