Renaissance Technologies LLC Purchases 4,300 Shares of Fabrinet (NYSE:FN)

Renaissance Technologies LLC raised its position in Fabrinet (NYSE:FN - Free Report) by 8.1% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 57,200 shares of the technology company's stock after purchasing an additional 4,300 shares during the period. Renaissance Technologies LLC owned 0.16% of Fabrinet worth $12,577,000 as of its most recent filing with the SEC.

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

Analysts Set New Price Targets

FN has been the topic of several research analyst reports. B. Riley raised Fabrinet from a "sell" rating to a "neutral" rating and cut their price objective for the stock from $178.00 to $176.00 in a research report on Friday, April 4th. Barclays reduced their price target on shares of Fabrinet from $292.00 to $245.00 and set an "equal weight" rating for the company in a research report on Tuesday, February 4th. Fox Advisors initiated coverage on shares of Fabrinet in a research report on Tuesday, February 18th. They issued an "overweight" rating and a $270.00 price objective on the stock. Needham & Company LLC reissued a "buy" rating and set a $280.00 target price on shares of Fabrinet in a research report on Monday, March 17th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Fabrinet from $265.00 to $220.00 and set a "neutral" rating on the stock in a report on Thursday. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Fabrinet presently has an average rating of "Hold" and a consensus target price of $243.71.

Fabrinet Price Performance

FN stock traded down $10.24 during midday trading on Monday, reaching $173.42. The company had a trading volume of 131,046 shares, compared to its average volume of 603,907. The firm has a 50-day moving average price of $203.49 and a 200-day moving average price of $225.00. The company has a market capitalization of $6.21 billion, a P/E ratio of 19.48 and a beta of 0.97. Fabrinet has a 1 year low of $148.55 and a 1 year high of $281.79.

Fabrinet (NYSE:FN - Get Free Report) last issued its quarterly 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, equities analysts predict that Fabrinet will post 9.4 EPS for the current 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.