Fabrinet (NYSE:FN) Holdings Raised by Victory Capital Management Inc.

Victory Capital Management Inc. grew its stake in shares of Fabrinet (NYSE:FN) by 0.3% in the 4th quarter, HoldingsChannel reports. The firm owned 171,540 shares of the technology company’s stock after acquiring an additional 509 shares during the quarter. Victory Capital Management Inc.’s holdings in Fabrinet were worth $37,718,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Farther Finance Advisors LLC lifted its stake in Fabrinet by 13.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 860 shares of the technology company’s stock worth $203,000 after acquiring an additional 101 shares in the last quarter. QRG Capital Management Inc. lifted its stake in Fabrinet by 3.8% in the 3rd quarter. QRG Capital Management Inc. now owns 3,607 shares of the technology company’s stock worth $853,000 after acquiring an additional 133 shares in the last quarter. Amalgamated Bank lifted its stake in Fabrinet by 50.3% in the 3rd quarter. Amalgamated Bank now owns 16,591 shares of the technology company’s stock worth $3,923,000 after acquiring an additional 5,554 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Fabrinet by 18.5% in the 3rd quarter. Principal Financial Group Inc. now owns 227,300 shares of the technology company’s stock worth $53,743,000 after acquiring an additional 35,504 shares in the last quarter. Finally, Assetmark Inc. lifted its stake in Fabrinet by 468.4% in the 3rd quarter. Assetmark Inc. now owns 432 shares of the technology company’s stock worth $102,000 after acquiring an additional 356 shares in the last quarter. 97.38% of the stock is owned by hedge funds and other institutional investors.

Fabrinet Stock Performance

Shares of NYSE FN opened at $194.45 on Friday. The firm has a market cap of $7.05 billion, a price-to-earnings ratio of 21.75 and a beta of 0.89. The business’s 50-day simple moving average is $220.89 and its 200-day simple moving average is $232.76. Fabrinet has a 52 week low of $159.69 and a 52 week high of $281.79.

Fabrinet (NYSE:FN) last issued its quarterly earnings data 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 year.

Analysts Set New Price Targets

FN has been the subject of several research analyst reports. Fox Advisors initiated coverage on Fabrinet in a research note on Tuesday, February 18th. They issued an “overweight” rating and a $270.00 price objective for the company. Rosenblatt Securities increased their price objective on Fabrinet from $280.00 to $285.00 and gave the stock a “buy” rating in a research note on Tuesday, February 4th. Barclays cut 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. B. Riley downgraded Fabrinet from a “neutral” rating to a “sell” rating and cut their price target for the stock from $194.00 to $178.00 in a research note on Wednesday, November 20th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $280.00 price target on shares of Fabrinet in a research note on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average 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.