Fabrinet (NYSE:FN) Shares Bought by Huntington National Bank

Huntington National Bank lifted its position in Fabrinet (NYSE:FN) by 66.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 230 shares of the technology company’s stock after buying an additional 92 shares during the period. Huntington National Bank’s holdings in Fabrinet were worth $51,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Geode Capital Management LLC raised its position in Fabrinet by 2.0% in the fourth quarter. Geode Capital Management LLC now owns 1,006,858 shares of the technology company’s stock worth $221,430,000 after acquiring an additional 20,045 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of Fabrinet by 2.5% in the 4th quarter. Franklin Resources Inc. now owns 137,109 shares of the technology company’s stock worth $30,148,000 after purchasing an additional 3,318 shares in the last quarter. Clearbridge Investments LLC raised its holdings in shares of Fabrinet by 0.4% in the 4th quarter. Clearbridge Investments LLC now owns 156,726 shares of the technology company’s stock worth $34,461,000 after purchasing an additional 637 shares in the last quarter. Schroder Investment Management Group lifted its stake in Fabrinet by 85.6% during the fourth quarter. Schroder Investment Management Group now owns 82,629 shares of the technology company’s stock valued at $17,745,000 after purchasing an additional 38,100 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in Fabrinet by 205.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 267,228 shares of the technology company’s stock worth $58,758,000 after buying an additional 179,679 shares in the last quarter. Institutional investors and hedge funds own 97.38% of the company’s stock.

Fabrinet Price Performance

NYSE FN opened at $178.74 on Tuesday. The company has a 50 day simple moving average of $209.27 and a 200-day simple moving average of $228.54. The firm has a market capitalization of $6.48 billion, a price-to-earnings ratio of 19.99 and a beta of 0.97. Fabrinet has a 52-week low of $148.55 and a 52-week high of $281.79.

Fabrinet (NYSE:FN) last released 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%. On average, analysts predict that Fabrinet will post 9.4 EPS for the current year.

Wall Street Analyst Weigh In

FN has been the subject of a number of recent research reports. JPMorgan Chase & Co. cut their price objective on Fabrinet from $275.00 to $265.00 and set a “neutral” rating for the company in a research report on Tuesday, February 4th. Rosenblatt Securities reaffirmed a “buy” rating and set a $285.00 target price on shares of Fabrinet in a report on Friday, March 14th. B. Riley raised Fabrinet from a “sell” rating to a “neutral” rating and dropped their price target for the stock from $178.00 to $176.00 in a research note on Friday. Needham & Company LLC reaffirmed a “buy” rating and set a $280.00 price objective on shares of Fabrinet in a research note on Monday, March 17th. Finally, 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 research report on Tuesday, February 4th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $250.14.

About Fabrinet

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.