Fabrinet (NYSE:FN) Shares Acquired by Xponance Inc.

Xponance Inc. lifted its stake in Fabrinet (NYSE:FN) by 6.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,390 shares of the technology company’s stock after purchasing an additional 346 shares during the quarter. Xponance Inc.’s holdings in Fabrinet were worth $1,185,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Barclays PLC boosted its holdings in Fabrinet by 304.6% in the 3rd quarter. Barclays PLC now owns 69,128 shares of the technology company’s stock valued at $16,345,000 after purchasing an additional 52,042 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Fabrinet by 14.7% in 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 acquiring an additional 61,491 shares during the last quarter. Pathstone Holdings LLC grew its position in Fabrinet by 40.7% in the third quarter. Pathstone Holdings LLC now owns 8,219 shares of the technology company’s stock worth $1,943,000 after acquiring an additional 2,378 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in Fabrinet during the third quarter worth $2,398,000. Finally, Freedom Investment Management Inc. raised its position in Fabrinet by 106.2% in the third quarter. Freedom Investment Management Inc. now owns 4,969 shares of the technology company’s stock valued at $1,175,000 after purchasing an additional 2,559 shares during the period. Hedge funds and other institutional investors own 97.38% of the company’s stock.

Fabrinet Stock Performance

Shares of FN stock opened at $220.57 on Monday. The stock has a market capitalization of $8.00 billion, a P/E ratio of 24.67 and a beta of 0.89. Fabrinet has a fifty-two week low of $159.69 and a fifty-two week high of $281.79. The company has a 50 day moving average price of $218.54 and a 200 day moving average price of $230.33.

Fabrinet (NYSE:FN) last posted its quarterly earnings results 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%. On average, research analysts forecast that Fabrinet will post 9.4 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Rosenblatt Securities reiterated a “buy” rating and set a $285.00 price target on shares of Fabrinet in a report on Friday, March 14th. Needham & Company LLC reiterated a “buy” rating and set a $280.00 price target on shares of Fabrinet in a research report on Monday, March 17th. JPMorgan Chase & Co. decreased their price objective on shares of Fabrinet from $275.00 to $265.00 and set a “neutral” rating on the stock in a report on Tuesday, February 4th. Fox Advisors initiated coverage on shares of Fabrinet in a report on Tuesday, February 18th. They issued an “overweight” rating and a $270.00 target price for the company. Finally, Barclays decreased their price target on Fabrinet from $292.00 to $245.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 4th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $250.43.

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.