Louisiana State Employees Retirement System Grows Position in Fabrinet (NYSE:FN)

Louisiana State Employees Retirement System raised its position in shares of Fabrinet (NYSE:FN) by 1.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 10,100 shares of the technology company’s stock after purchasing an additional 100 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Fabrinet were worth $2,221,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Wedge Capital Management L L P NC bought a new stake in shares of Fabrinet in the 4th quarter valued at approximately $63,222,000. Whale Rock Capital Management LLC lifted 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 valued at $202,338,000 after purchasing an additional 175,684 shares during the last quarter. Stephens Investment Management Group LLC bought a new stake in shares of Fabrinet in the 4th quarter valued at approximately $28,218,000. World Investment Advisors LLC bought a new stake in shares of Fabrinet in the 3rd quarter valued at approximately $20,187,000. Finally, DekaBank Deutsche Girozentrale lifted its stake in shares of Fabrinet by 3,831.4% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 82,088 shares of the technology company’s stock valued at $19,465,000 after purchasing an additional 80,000 shares during the last quarter. Hedge funds and other institutional investors own 97.38% of the company’s stock.

Analyst Upgrades and Downgrades

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

Fabrinet Stock Up 4.3 %

FN opened at $223.29 on Friday. The stock’s fifty day moving average is $227.62 and its two-hundred day moving average is $233.30. The company has a market capitalization of $8.10 billion, a P/E ratio of 24.98 and a beta of 0.92. Fabrinet has a 52 week low of $159.69 and a 52 week high of $281.79.

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