Fabrinet (NYSE:FN) Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC increased its holdings in Fabrinet (NYSE:FN) by 7.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 986,813 shares of the technology company’s stock after acquiring an additional 69,554 shares during the quarter. Geode Capital Management LLC’s holdings in Fabrinet were worth $233,359,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of FN. nVerses Capital LLC acquired a new stake in Fabrinet during the third quarter valued at approximately $567,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Fabrinet by 14.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 480,550 shares of the technology company’s stock valued at $113,621,000 after acquiring an additional 61,491 shares during the last quarter. Pathstone Holdings LLC raised its position 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 valued at $1,943,000 after acquiring an additional 2,378 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Fabrinet during the 3rd quarter valued at approximately $2,398,000. Finally, Freedom Investment Management Inc. lifted its stake in Fabrinet by 106.2% during the third quarter. Freedom Investment Management Inc. now owns 4,969 shares of the technology company’s stock worth $1,175,000 after purchasing an additional 2,559 shares during the last quarter. Institutional investors and hedge funds own 97.38% of the company’s stock.

Fabrinet Stock Up 0.8 %

Shares of FN opened at $247.86 on Friday. Fabrinet has a 52-week low of $159.69 and a 52-week high of $278.38. The firm has a market capitalization of $8.99 billion, a PE ratio of 29.33 and a beta of 0.92. The firm has a 50-day moving average price of $245.00 and a 200 day moving average price of $238.16.

Fabrinet (NYSE:FN) last released its earnings results on Monday, November 4th. The technology company reported $2.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.38 by $0.01. Fabrinet had a return on equity of 18.08% and a net margin of 10.28%. The firm had revenue of $804.20 million for the quarter, compared to analyst estimates of $771.24 million. During the same period in the previous year, the company earned $1.78 earnings per share. Fabrinet’s revenue was up 17.3% compared to the same quarter last year. On average, equities analysts expect that Fabrinet will post 9.1 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on FN. Rosenblatt Securities increased their target price on shares of Fabrinet from $260.00 to $280.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. Barclays started coverage on shares of Fabrinet in a research note on Thursday, November 14th. They set an “equal weight” rating and a $292.00 price objective on the stock. Needham & Company LLC initiated coverage on Fabrinet in a research note on Tuesday, November 5th. They issued a “buy” rating and a $280.00 target price for the company. JPMorgan Chase & Co. increased their price target on Fabrinet from $240.00 to $285.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Finally, 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 report on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $252.14.

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.