Wasatch Advisors LP Buys 362,064 Shares of Fabrinet (NYSE:FN)

Wasatch Advisors LP boosted its stake in Fabrinet (NYSE:FN - Free Report) by 47.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,132,636 shares of the technology company's stock after buying an additional 362,064 shares during the quarter. Fabrinet makes up approximately 1.2% of Wasatch Advisors LP's portfolio, making the stock its 25th largest holding. Wasatch Advisors LP owned approximately 3.12% of Fabrinet worth $249,044,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in Fabrinet by 2.8% during the 4th quarter. Vanguard Group Inc. now owns 4,137,579 shares of the technology company's stock worth $909,771,000 after purchasing an additional 113,186 shares in the last quarter. FMR LLC grew its position in Fabrinet by 13.1% during the 4th quarter. FMR LLC now owns 2,213,887 shares of the technology company's stock worth $486,789,000 after purchasing an additional 257,164 shares during the last quarter. Geode Capital Management LLC raised its stake in Fabrinet by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 1,006,858 shares of the technology company's stock valued at $221,430,000 after acquiring an additional 20,045 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Fabrinet by 1.4% during the fourth quarter. JPMorgan Chase & Co. now owns 669,459 shares of the technology company's stock worth $147,201,000 after purchasing an additional 9,058 shares during the period. Finally, Baillie Gifford & Co. boosted its holdings in shares of Fabrinet by 10.7% in the fourth quarter. Baillie Gifford & Co. now owns 553,038 shares of the technology company's stock valued at $121,602,000 after acquiring an additional 53,250 shares in the last quarter. Institutional investors and hedge funds own 97.38% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on FN. B. Riley raised Fabrinet from a "sell" rating to a "neutral" rating and decreased their price target for the stock from $178.00 to $176.00 in a research note on Friday, April 4th. JPMorgan Chase & Co. lowered their price target on shares of Fabrinet from $265.00 to $220.00 and set a "neutral" rating for the company in a report on Thursday. Needham & Company LLC reissued a "buy" rating and issued a $280.00 price target on shares of Fabrinet in a research note on Monday, March 17th. Barclays dropped their price target on Fabrinet from $292.00 to $245.00 and set an "equal weight" rating for the company in a research note on Tuesday, February 4th. Finally, Rosenblatt Securities restated a "buy" rating and set a $285.00 target price on shares of Fabrinet in a report on Friday, March 14th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, Fabrinet currently has a consensus rating of "Hold" and an average price target of $243.71.

Fabrinet Price Performance

FN traded down $11.48 on Monday, reaching $172.18. 254,619 shares of the company traded hands, compared to its average volume of 604,553. Fabrinet has a 52-week low of $148.55 and a 52-week high of $281.79. The stock's 50 day moving average price is $203.49 and its 200-day moving average price is $225.00. The company has a market cap of $6.17 billion, a price-to-earnings ratio of 19.26 and a beta of 0.97.

Fabrinet (NYSE:FN - Get Free Report) last issued its earnings results 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 net margin of 10.44% and a return on equity of 18.48%. As a group, equities research analysts forecast that Fabrinet will post 9.4 earnings per share for the current fiscal year.

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.