Lester Murray Antman dba SimplyRich Raises Stock Position in Fabrinet (NYSE:FN)

Lester Murray Antman dba SimplyRich grew its stake in shares of Fabrinet (NYSE:FN) by 32.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,108 shares of the technology company’s stock after acquiring an additional 517 shares during the period. Lester Murray Antman dba SimplyRich’s holdings in Fabrinet were worth $463,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Wedge Capital Management L L P NC purchased a new stake in shares of Fabrinet in the fourth quarter valued at about $63,222,000. Whale Rock Capital Management LLC lifted its stake in Fabrinet by 25.8% in 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 in the last quarter. Stephens Investment Management Group LLC purchased a new stake in Fabrinet in the 4th quarter valued at approximately $28,218,000. World Investment Advisors LLC acquired a new stake in shares of Fabrinet during the third quarter valued at $20,187,000. Finally, DekaBank Deutsche Girozentrale boosted its stake in shares of Fabrinet by 3,831.4% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 82,088 shares of the technology company’s stock worth $19,465,000 after purchasing an additional 80,000 shares during the last quarter. Hedge funds and other institutional investors own 97.38% of the company’s stock.

Wall Street Analyst Weigh In

FN has been the topic of several recent analyst reports. Rosenblatt Securities upped their price objective on shares of Fabrinet from $280.00 to $285.00 and gave the company a “buy” rating in a research note on Tuesday, February 4th. B. Riley lowered Fabrinet from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $194.00 to $178.00 in a research note on Wednesday, November 20th. JPMorgan Chase & Co. decreased their price objective on Fabrinet from $275.00 to $265.00 and set a “neutral” rating on the stock in a report on Tuesday, February 4th. Barclays dropped their target price on Fabrinet from $292.00 to $245.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 4th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $280.00 target price on shares of Fabrinet in a research report on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $243.29.

Fabrinet Trading Down 1.5 %

Shares of FN opened at $207.64 on Wednesday. Fabrinet has a twelve month low of $159.69 and a twelve month high of $281.79. The firm has a market capitalization of $7.53 billion, a P/E ratio of 23.23 and a beta of 0.92. The stock’s fifty day simple moving average is $229.20 and its 200 day simple moving average is $233.69.

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

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.