WCM Investment Management LLC Purchases 33,545 Shares of Fabrinet (NYSE:FN)

WCM Investment Management LLC increased its holdings in Fabrinet (NYSE:FN) by 64.9% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 85,268 shares of the technology company’s stock after acquiring an additional 33,545 shares during the quarter. WCM Investment Management LLC’s holdings in Fabrinet were worth $18,312,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in FN. Wellington Management Group LLP increased its stake in Fabrinet by 1.7% in the 3rd quarter. Wellington Management Group LLP now owns 1,169,162 shares of the technology company’s stock worth $276,437,000 after acquiring an additional 19,677 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Fabrinet by 7.6% during the third quarter. Geode Capital Management LLC now owns 986,813 shares of the technology company’s stock worth $233,359,000 after purchasing an additional 69,554 shares in the last quarter. Whale Rock Capital Management LLC grew its holdings in shares of Fabrinet by 25.8% during the third quarter. Whale Rock Capital Management LLC now owns 855,767 shares of the technology company’s stock worth $202,338,000 after purchasing an additional 175,684 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Fabrinet by 3.8% in the third quarter. JPMorgan Chase & Co. now owns 660,401 shares of the technology company’s stock valued at $156,145,000 after purchasing an additional 24,439 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted 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 valued at $113,621,000 after purchasing an additional 61,491 shares during the last quarter. Institutional investors own 97.38% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Rosenblatt Securities raised their price objective on shares of Fabrinet from $280.00 to $285.00 and gave the company a “buy” rating in a research report on Tuesday, February 4th. Barclays dropped 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. Needham & Company LLC reiterated a “buy” rating and set a $280.00 price objective on shares of Fabrinet in a research 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 for the company in a research report on Tuesday, February 4th. Finally, B. Riley cut shares of 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 research report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Fabrinet presently has an average rating of “Hold” and an average target price of $243.29.

Fabrinet Trading Down 3.8 %

NYSE FN opened at $212.43 on Friday. The firm has a market cap of $7.70 billion, a PE ratio of 23.76 and a beta of 0.92. Fabrinet has a 1-year low of $159.69 and a 1-year high of $281.79. The stock has a 50-day moving average of $229.66 and a 200-day moving average of $233.72.

Fabrinet (NYSE:FN) last released its quarterly earnings data 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%. As a group, equities research analysts forecast that Fabrinet will post 9.4 earnings per share for the current fiscal year.

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.