Price T Rowe Associates Inc. MD Has $93.84 Million Stock Position in Fabrinet (NYSE:FN)

Price T Rowe Associates Inc. MD decreased its stake in Fabrinet (NYSE:FN - Free Report) by 2.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 426,786 shares of the technology company's stock after selling 10,679 shares during the period. Price T Rowe Associates Inc. MD owned approximately 1.18% of Fabrinet worth $93,842,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Barclays PLC raised its stake in shares of Fabrinet by 304.6% in the third quarter. Barclays PLC now owns 69,128 shares of the technology company's stock valued at $16,345,000 after purchasing an additional 52,042 shares in the last quarter. Salem Investment Counselors Inc. acquired a new position in shares of Fabrinet in the 4th quarter valued at $518,000. Janney Montgomery Scott LLC lifted its holdings in shares of Fabrinet by 2.6% during the 4th quarter. Janney Montgomery Scott LLC now owns 3,279 shares of the technology company's stock worth $721,000 after acquiring an additional 82 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Fabrinet by 3.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 660,401 shares of the technology company's stock valued at $156,145,000 after acquiring an additional 24,439 shares in the last quarter. Finally, Harbor Capital Advisors Inc. increased its stake in Fabrinet by 33.2% in the fourth quarter. Harbor Capital Advisors Inc. now owns 13,901 shares of the technology company's stock valued at $3,057,000 after acquiring an additional 3,468 shares during the period. Institutional investors own 97.38% of the company's stock.

Fabrinet Price Performance

Shares of FN stock traded up $7.68 during trading hours on Friday, hitting $218.44. 445,978 shares of the company's stock were exchanged, compared to its average volume of 613,737. Fabrinet has a 52 week low of $148.55 and a 52 week high of $281.79. The stock has a market cap of $7.83 billion, a price-to-earnings ratio of 24.43 and a beta of 0.97. The stock's 50-day moving average is $198.39 and its 200-day moving average is $221.89.

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

Wall Street Analysts Forecast Growth

A number of research analysts have commented on FN shares. Rosenblatt Securities cut their price target on shares of Fabrinet from $280.00 to $230.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. JPMorgan Chase & Co. decreased their price target on Fabrinet from $265.00 to $220.00 and set a "neutral" rating on the stock in a research note on Thursday, April 17th. B. Riley upgraded Fabrinet from a "sell" rating to a "neutral" rating and dropped their price objective for the stock from $178.00 to $176.00 in a research note on Friday, April 4th. Needham & Company LLC restated a "buy" rating and issued a $280.00 target price on shares of Fabrinet in a research note on Monday, March 17th. Finally, Fox Advisors began coverage on shares of Fabrinet in a report on Tuesday, February 18th. They issued an "overweight" rating and a $270.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $235.86.

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.