Fabrinet (NYSE:FN) Position Increased by Blueshift Asset Management LLC

Blueshift Asset Management LLC raised its holdings in shares of Fabrinet (NYSE:FN) by 66.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,797 shares of the technology company’s stock after purchasing an additional 1,118 shares during the period. Blueshift Asset Management LLC’s holdings in Fabrinet were worth $615,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Wellington Management Group LLP increased its stake 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 valued at $276,437,000 after purchasing an additional 19,677 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Fabrinet by 7.6% during the third 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 position in shares of Fabrinet by 25.8% during the third 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 during the last quarter. JPMorgan Chase & Co. grew its position in shares of Fabrinet by 3.8% during the third quarter. JPMorgan Chase & Co. now owns 660,401 shares of the technology company’s stock worth $156,145,000 after acquiring an additional 24,439 shares during the last quarter. Finally, Baillie Gifford & Co. grew its position in shares of Fabrinet by 10.7% during the fourth quarter. Baillie Gifford & Co. now owns 553,038 shares of the technology company’s stock worth $121,602,000 after acquiring an additional 53,250 shares during the last quarter. Institutional investors own 97.38% of the company’s stock.

Fabrinet Trading Down 1.1 %

Shares of NYSE FN opened at $222.08 on Friday. Fabrinet has a twelve month low of $159.69 and a twelve month high of $281.79. The company has a market capitalization of $8.05 billion, a price-to-earnings ratio of 24.84 and a beta of 0.89. The firm has a 50-day moving average of $218.70 and a two-hundred day moving average of $230.39.

Fabrinet (NYSE:FN) last issued its quarterly earnings results on Monday, February 3rd. The technology company reported $2.38 earnings per share 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, research analysts predict that Fabrinet will post 9.4 earnings per share for the current year.

Analyst Ratings Changes

FN has been the subject of several recent research reports. JPMorgan Chase & Co. lowered their price target on shares of Fabrinet from $275.00 to $265.00 and set a “neutral” rating for the company in a research report on Tuesday, February 4th. Rosenblatt Securities restated a “buy” rating and set a $285.00 price target on shares of Fabrinet in a research report on Friday, March 14th. Fox Advisors began coverage on shares of Fabrinet in a research report on Tuesday, February 18th. They issued an “overweight” rating and a $270.00 target price for the company. Barclays decreased their target price 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. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $280.00 target price on shares of Fabrinet in a research report on Monday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $246.63.

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.