Capital World Investors Sells 277 Shares of Fabrinet (NYSE:FN)

Capital World Investors lowered its stake in shares of Fabrinet (NYSE:FN) by 0.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 412,541 shares of the technology company’s stock after selling 277 shares during the period. Capital World Investors’ holdings in Fabrinet were worth $90,710,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new stake in Fabrinet during the 4th quarter worth $95,084,000. Wasatch Advisors LP increased its holdings in shares of Fabrinet by 47.0% in the fourth quarter. Wasatch Advisors LP now owns 1,132,636 shares of the technology company’s stock worth $249,044,000 after acquiring an additional 362,064 shares in the last quarter. Wedge Capital Management L L P NC acquired a new stake in shares of Fabrinet during the fourth quarter worth about $63,222,000. FMR LLC lifted its holdings in shares of Fabrinet by 13.1% during the 4th quarter. FMR LLC now owns 2,213,887 shares of the technology company’s stock valued at $486,789,000 after purchasing an additional 257,164 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its position in shares of Fabrinet by 205.2% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 267,228 shares of the technology company’s stock valued at $58,758,000 after purchasing an additional 179,679 shares during the period. 97.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have commented on FN. Barclays dropped their target price on shares of Fabrinet from $292.00 to $245.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 4th. Needham & Company LLC reaffirmed a “buy” rating and issued a $280.00 price objective on shares of Fabrinet in a research report on Monday, March 17th. JPMorgan Chase & Co. reduced their target price on shares of Fabrinet from $265.00 to $220.00 and set a “neutral” rating for the company in a research note on Thursday, April 17th. Fox Advisors assumed coverage on Fabrinet in a research note on Tuesday, February 18th. They issued an “overweight” rating and a $270.00 price target on the stock. Finally, B. Riley raised Fabrinet from a “sell” rating to a “neutral” rating and reduced their price objective for the stock 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 given a buy rating to the stock. According to MarketBeat, Fabrinet presently has a consensus rating of “Hold” and an average price target of $243.71.

Fabrinet Trading Down 5.7 %

Shares of FN stock opened at $173.20 on Tuesday. The firm’s fifty day moving average price is $202.73 and its two-hundred day moving average price is $224.51. Fabrinet has a 1 year low of $148.55 and a 1 year high of $281.79. The firm has a market capitalization of $6.21 billion, a P/E ratio of 19.37 and a beta of 0.97.

Fabrinet (NYSE:FN) last released its earnings results on Monday, February 3rd. The technology company reported $2.38 earnings per share (EPS) 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 EPS 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.