Fabrinet (NYSE:FN) Shares Bought by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board lifted its position in shares of Fabrinet (NYSE:FN) by 70.6% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 39,400 shares of the technology company’s stock after buying an additional 16,300 shares during the period. Canada Pension Plan Investment Board’s holdings in Fabrinet were worth $8,663,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Huntington National Bank raised its stake in Fabrinet by 66.7% during the fourth quarter. Huntington National Bank now owns 230 shares of the technology company’s stock worth $51,000 after purchasing an additional 92 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in shares of Fabrinet during the 3rd quarter worth $61,000. IFP Advisors Inc raised its position in shares of Fabrinet by 576.2% in the 4th quarter. IFP Advisors Inc now owns 284 shares of the technology company’s stock worth $63,000 after buying an additional 242 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in Fabrinet during the third quarter valued at about $70,000. Finally, Assetmark Inc. grew its position in Fabrinet by 12.0% during the fourth quarter. Assetmark Inc. now owns 484 shares of the technology company’s stock valued at $106,000 after acquiring an additional 52 shares during the period. Institutional investors and hedge funds own 97.38% of the company’s stock.

Fabrinet Stock Performance

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

Fabrinet (NYSE:FN) last issued its quarterly earnings data on Monday, February 3rd. The technology company reported $2.38 earnings per share for the quarter, missing the consensus estimate 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, analysts predict that Fabrinet will post 9.4 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Fox Advisors started coverage on shares of Fabrinet in a research report on Tuesday, February 18th. They set an “overweight” rating and a $270.00 target price for the company. Barclays decreased their price target on shares of Fabrinet from $292.00 to $245.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 4th. Rosenblatt Securities reissued a “buy” rating and issued a $285.00 price objective on shares of Fabrinet in a research report on Friday, March 14th. B. Riley raised Fabrinet from a “sell” rating to a “neutral” rating and decreased their target price for the stock from $178.00 to $176.00 in a research report on Friday, April 4th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $280.00 target price on shares of Fabrinet in a report on Monday, March 17th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Fabrinet presently has a consensus rating of “Hold” and a consensus price target of $243.71.

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.