WCM Investment Management LLC Acquires 33,545 Shares of Fabrinet (NYSE:FN)

WCM Investment Management LLC grew its stake in shares of Fabrinet (NYSE:FN) by 64.9% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 85,268 shares of the technology company’s stock after purchasing an additional 33,545 shares during the period. WCM Investment Management LLC owned about 0.24% of Fabrinet worth $18,312,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wellington Management Group LLP grew its holdings in Fabrinet by 1.7% during the third quarter. Wellington Management Group LLP now owns 1,169,162 shares of the technology company’s stock worth $276,437,000 after buying an additional 19,677 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Fabrinet by 7.6% during the 3rd quarter. Geode Capital Management LLC now owns 986,813 shares of the technology company’s stock worth $233,359,000 after acquiring an additional 69,554 shares during the last quarter. Whale Rock Capital Management LLC grew its stake in shares of Fabrinet by 25.8% in the 3rd quarter. Whale Rock Capital Management LLC now owns 855,767 shares of the technology company’s stock worth $202,338,000 after acquiring an additional 175,684 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Fabrinet by 3.8% in the third 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 during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Fabrinet by 14.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 480,550 shares of the technology company’s stock valued at $113,621,000 after purchasing an additional 61,491 shares in the last quarter. 97.38% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on FN shares. Needham & Company LLC reiterated a “buy” rating and issued a $280.00 price objective on shares of Fabrinet in a research note on Tuesday, February 4th. B. Riley lowered Fabrinet from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $194.00 to $178.00 in a report on Wednesday, November 20th. Barclays reduced their price objective 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. JPMorgan Chase & Co. lowered their target price on Fabrinet from $275.00 to $265.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 4th. Finally, Rosenblatt Securities increased their price target on shares of Fabrinet from $280.00 to $285.00 and gave the company a “buy” rating in a research report on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $243.29.

Fabrinet Price Performance

Shares of FN opened at $212.43 on Friday. Fabrinet has a 1 year low of $159.69 and a 1 year high of $281.79. The stock’s fifty day moving average price is $229.66 and its two-hundred day moving average price is $233.72. The firm has a market cap of $7.70 billion, a PE ratio of 23.76 and a beta of 0.92.

Fabrinet (NYSE:FN) last announced its quarterly earnings data on Monday, February 3rd. The technology company reported $2.38 earnings per share (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%. Sell-side analysts anticipate that Fabrinet will post 9.4 earnings per share for the current fiscal 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.