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

Vanguard Group Inc. increased its position in shares of Fabrinet (NYSE:FN) by 2.8% in the fourth quarter, HoldingsChannel reports. The firm 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 approximately 0.11% of Fabrinet worth $909,771,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. Bridge City Capital LLC increased its holdings in shares of Fabrinet by 12.5% during the fourth quarter. Bridge City Capital LLC now owns 23,957 shares of the technology company’s stock worth $5,268,000 after buying an additional 2,668 shares in the last quarter. LPL Financial LLC increased its holdings in Fabrinet by 110.4% during the 4th quarter. LPL Financial LLC now owns 14,531 shares of the technology company’s stock valued at $3,195,000 after purchasing an additional 7,624 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in Fabrinet in the 4th quarter valued at $1,627,000. Sei Investments Co. boosted its stake in Fabrinet by 26.0% in the fourth quarter. Sei Investments Co. now owns 99,245 shares of the technology company’s stock worth $21,822,000 after purchasing an additional 20,462 shares in the last quarter. Finally, Blueshift Asset Management LLC grew its holdings in shares of Fabrinet by 66.6% during the fourth quarter. Blueshift Asset Management LLC now owns 2,797 shares of the technology company’s stock worth $615,000 after purchasing an additional 1,118 shares during the last quarter. 97.38% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on FN. JPMorgan Chase & Co. cut their price target on Fabrinet from $275.00 to $265.00 and set a “neutral” rating for the company in a report on Tuesday, February 4th. Fox Advisors assumed coverage on shares of Fabrinet in a research report on Tuesday, February 18th. They set an “overweight” rating and a $270.00 target price on the stock. 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. Rosenblatt Securities restated a “buy” rating and issued a $285.00 price objective on shares of Fabrinet in a research report on Friday, March 14th. Finally, Barclays decreased their price objective on Fabrinet from $292.00 to $245.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 4th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $250.43.

Fabrinet Stock Performance

Shares of FN stock opened at $195.58 on Friday. The firm’s 50 day moving average price is $216.64 and its two-hundred day moving average price is $230.05. Fabrinet has a 52-week low of $159.69 and a 52-week high of $281.79. The stock has a market cap of $7.09 billion, a PE ratio of 21.88 and a beta of 0.89.

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