Vaughan Nelson Investment Management L.P. Purchases 79,265 Shares of Fabrinet (NYSE:FN)

Vaughan Nelson Investment Management L.P. boosted its stake in shares of Fabrinet (NYSE:FN) by 34.9% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 306,570 shares of the technology company’s stock after purchasing an additional 79,265 shares during the period. Vaughan Nelson Investment Management L.P. owned approximately 0.85% of Fabrinet worth $67,408,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of FN. Wellington Management Group LLP grew its position in Fabrinet by 1.7% in the third quarter. Wellington Management Group LLP now owns 1,169,162 shares of the technology company’s stock worth $276,437,000 after acquiring an additional 19,677 shares during the period. Geode Capital Management LLC boosted its position in Fabrinet by 7.6% during the 3rd quarter. Geode Capital Management LLC now owns 986,813 shares of the technology company’s stock worth $233,359,000 after purchasing an additional 69,554 shares during the period. Whale Rock Capital Management LLC raised its holdings in shares of Fabrinet by 25.8% during the 3rd quarter. Whale Rock Capital Management LLC now owns 855,767 shares of the technology company’s stock valued at $202,338,000 after buying an additional 175,684 shares during the period. JPMorgan Chase & Co. lifted its position in Fabrinet by 3.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 660,401 shares of the technology company’s stock worth $156,145,000 after acquiring an additional 24,439 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Fabrinet by 14.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 480,550 shares of the technology company’s stock worth $113,621,000 after purchasing an additional 61,491 shares in the last quarter. Hedge funds and other institutional investors own 97.38% of the company’s stock.

Fabrinet Trading Down 3.8 %

Shares of NYSE FN opened at $212.43 on Friday. The company has a market capitalization of $7.70 billion, a price-to-earnings ratio of 23.76 and a beta of 0.92. Fabrinet has a twelve month low of $159.69 and a twelve month high of $281.79. The business has a 50 day simple moving average of $229.66 and a 200-day simple moving average of $233.72.

Fabrinet (NYSE:FN) last released its earnings results 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, equities analysts predict that Fabrinet will post 9.4 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on FN. Rosenblatt Securities raised their price target on shares of Fabrinet from $280.00 to $285.00 and gave the company a “buy” rating in a report on Tuesday, February 4th. B. Riley lowered Fabrinet from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $194.00 to $178.00 in a research report on Wednesday, November 20th. JPMorgan Chase & Co. reduced their price target on Fabrinet from $275.00 to $265.00 and set a “neutral” rating for the company in a report on Tuesday, February 4th. Needham & Company LLC reaffirmed a “buy” rating and issued a $280.00 target price on shares of Fabrinet in a research report on Tuesday, February 4th. Finally, 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. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Fabrinet presently has an average rating of “Hold” and a consensus price target of $243.29.

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.