112,993 Shares in Fabrinet (NYSE:FN) Purchased by Raymond James Financial Inc.

Raymond James Financial Inc. acquired a new stake in Fabrinet (NYSE:FN) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 112,993 shares of the technology company’s stock, valued at approximately $24,844,000. Raymond James Financial Inc. owned 0.31% of Fabrinet at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Public Employees Retirement System of Ohio acquired a new position in Fabrinet in the third quarter valued at about $61,000. Barclays PLC raised its stake in shares of Fabrinet by 304.6% in the third quarter. Barclays PLC now owns 69,128 shares of the technology company’s stock valued at $16,345,000 after acquiring an additional 52,042 shares during the last quarter. Virtu Financial LLC acquired a new position in shares of Fabrinet in the 3rd quarter worth approximately $431,000. Sanctuary Advisors LLC grew its position in Fabrinet by 23.9% during the 3rd quarter. Sanctuary Advisors LLC now owns 2,440 shares of the technology company’s stock worth $562,000 after acquiring an additional 471 shares during the last quarter. Finally, World Investment Advisors LLC bought a new position in Fabrinet in the 3rd quarter valued at $20,187,000. 97.38% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FN has been the topic of several research analyst reports. JPMorgan Chase & Co. decreased their target price on Fabrinet from $265.00 to $220.00 and set a “neutral” rating on the stock in a report on Thursday. Needham & Company LLC reaffirmed a “buy” rating and issued a $280.00 target price on shares of Fabrinet in a research note on Monday, March 17th. Fox Advisors assumed coverage on shares of Fabrinet in a research note on Tuesday, February 18th. They set an “overweight” rating and a $270.00 price target on the stock. 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, B. Riley upgraded Fabrinet from a “sell” rating to a “neutral” rating and decreased their price objective for the company from $178.00 to $176.00 in a research report on Friday, April 4th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Fabrinet has a consensus rating of “Hold” and an average price target of $243.71.

Fabrinet Price Performance

Shares of NYSE FN opened at $183.63 on Friday. The company’s 50 day simple moving average is $203.49 and its 200 day simple moving average is $225.13. Fabrinet has a fifty-two week low of $148.55 and a fifty-two week high of $281.79. The firm has a market capitalization of $6.58 billion, a P/E ratio of 20.54 and a beta of 0.97.

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%. Sell-side analysts expect that Fabrinet will post 9.4 EPS 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.