3,386 Shares in Fabrinet (NYSE:FN) Purchased by Illumine Investment Management LLC

Illumine Investment Management LLC acquired a new stake in Fabrinet (NYSE:FN) in the fourth quarter, HoldingsChannel reports. The firm acquired 3,386 shares of the technology company’s stock, valued at approximately $745,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Barclays PLC lifted its position in Fabrinet by 304.6% during the third 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. Charles Schwab Investment Management Inc. increased its position in Fabrinet by 14.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 480,550 shares of the technology company’s stock worth $113,621,000 after purchasing an additional 61,491 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Fabrinet in the 3rd quarter valued at $2,398,000. Pathstone Holdings LLC increased its holdings in shares of Fabrinet by 40.7% during the 3rd quarter. Pathstone Holdings LLC now owns 8,219 shares of the technology company’s stock worth $1,943,000 after buying an additional 2,378 shares during the last quarter. Finally, Freedom Investment Management Inc. raised its position in shares of Fabrinet by 106.2% in the 3rd quarter. Freedom Investment Management Inc. now owns 4,969 shares of the technology company’s stock worth $1,175,000 after buying an additional 2,559 shares during the period. Hedge funds and other institutional investors own 97.38% of the company’s stock.

Fabrinet Price Performance

FN stock opened at $195.50 on Friday. The firm has a market cap of $7.09 billion, a PE ratio of 21.87 and a beta of 0.92. Fabrinet has a 12 month low of $159.69 and a 12 month high of $281.79. The firm has a 50 day simple moving average of $224.34 and a 200 day simple moving average of $234.25.

Fabrinet (NYSE:FN) last posted its quarterly earnings data 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%. As a group, sell-side analysts expect that Fabrinet will post 9.4 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on FN. Fox Advisors initiated coverage on Fabrinet in a report on Tuesday, February 18th. They issued an “overweight” rating and a $270.00 price objective on the stock. Rosenblatt Securities upped their target price on shares of Fabrinet from $280.00 to $285.00 and gave the company a “buy” rating in a research note on Tuesday, February 4th. Barclays cut their price objective on shares of Fabrinet from $292.00 to $245.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 4th. JPMorgan Chase & Co. dropped their target price on Fabrinet from $275.00 to $265.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 4th. Finally, B. Riley downgraded Fabrinet from a “neutral” rating to a “sell” rating and reduced their price target for the company from $194.00 to $178.00 in a report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $246.63.

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.