Vanguard Group Inc. Has $909.77 Million Position in Fabrinet (NYSE:FN)

Vanguard Group Inc. raised its stake in shares of Fabrinet (NYSE:FN) by 2.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,137,579 shares of the technology company’s stock after purchasing an additional 113,186 shares during the period. Vanguard Group Inc. owned 11.41% of Fabrinet worth $909,771,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of FN. Wedge Capital Management L L P NC acquired a new position in Fabrinet in the 4th quarter valued at $63,222,000. Whale Rock Capital Management LLC grew its position in shares of Fabrinet by 25.8% in the third quarter. Whale Rock Capital Management LLC now owns 855,767 shares of the technology company’s stock valued at $202,338,000 after purchasing an additional 175,684 shares during the last quarter. Stephens Investment Management Group LLC bought a new position in shares of Fabrinet in the fourth quarter worth about $28,218,000. Raymond James Financial Inc. acquired a new position in shares of Fabrinet during the 4th quarter worth about $24,844,000. Finally, World Investment Advisors LLC bought a new stake in Fabrinet during the 3rd quarter valued at approximately $20,187,000. Institutional investors own 97.38% of the company’s stock.

Fabrinet Price Performance

Shares of Fabrinet stock opened at $195.58 on Friday. The company’s fifty day moving average price is $216.64 and its two-hundred day moving average price is $230.05. The firm has a market capitalization of $7.09 billion, a PE ratio of 21.88 and a beta of 0.89. Fabrinet has a 52-week low of $159.69 and a 52-week high of $281.79.

Fabrinet (NYSE:FN) last posted its 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%. Analysts predict that Fabrinet will post 9.4 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have commented on the company. Rosenblatt Securities reaffirmed a “buy” rating and issued a $285.00 price target on shares of Fabrinet in a research report on Friday, March 14th. JPMorgan Chase & Co. dropped their target price on shares of Fabrinet from $275.00 to $265.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 4th. Needham & Company LLC reissued a “buy” rating and issued a $280.00 price target on shares of Fabrinet in a report on Monday, March 17th. Fox Advisors initiated coverage on shares of Fabrinet in a report on Tuesday, February 18th. They set an “overweight” rating and a $270.00 price objective on the stock. Finally, Barclays cut their price objective 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. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Fabrinet presently has a consensus rating of “Hold” and an average target price of $250.43.

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.