Schroder Investment Management Group Boosts Stake in Fabrinet (NYSE:FN)

Schroder Investment Management Group increased its stake in shares of Fabrinet (NYSE:FN) by 85.6% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 82,629 shares of the technology company’s stock after buying an additional 38,100 shares during the quarter. Schroder Investment Management Group’s holdings in Fabrinet were worth $17,745,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership grew its stake in Fabrinet by 205.2% during 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 last quarter. Transamerica Financial Advisors Inc. increased its holdings in Fabrinet by 17.2% in the 4th quarter. Transamerica Financial Advisors Inc. now owns 565 shares of the technology company’s stock worth $125,000 after buying an additional 83 shares during the period. Intrust Bank NA purchased a new position in Fabrinet during the 4th quarter worth approximately $218,000. Level Four Advisory Services LLC lifted its stake in Fabrinet by 33.3% during the 4th quarter. Level Four Advisory Services LLC now owns 8,209 shares of the technology company’s stock valued at $1,805,000 after acquiring an additional 2,053 shares during the period. Finally, Pictet Asset Management Holding SA boosted its holdings in shares of Fabrinet by 7.6% in the 4th quarter. Pictet Asset Management Holding SA now owns 4,942 shares of the technology company’s stock valued at $1,087,000 after acquiring an additional 347 shares during the last quarter. 97.38% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently issued reports on FN shares. Fox Advisors began coverage on shares of Fabrinet in a report on Tuesday, February 18th. They set an “overweight” rating and a $270.00 target price for the company. JPMorgan Chase & Co. reduced their price objective on Fabrinet from $275.00 to $265.00 and set a “neutral” rating for the company in a research note on Tuesday, February 4th. Needham & Company LLC restated a “buy” rating and issued a $280.00 target price on shares of Fabrinet in a research note on Monday, March 17th. Barclays reduced their price target on Fabrinet from $292.00 to $245.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 4th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $285.00 price target on shares of Fabrinet in a report on Friday, March 14th. One 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 data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $250.43.

Fabrinet Stock Up 2.7 %

Shares of Fabrinet stock opened at $202.35 on Thursday. The firm has a market cap of $7.34 billion, a PE ratio of 22.63 and a beta of 0.89. Fabrinet has a twelve month low of $159.69 and a twelve month high of $281.79. The business has a 50-day moving average price of $213.35 and a 200 day moving average price of $229.71.

Fabrinet (NYSE:FN) last posted 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 net margin of 10.44% and a return on equity of 18.48%. On average, sell-side analysts expect that Fabrinet will post 9.4 EPS 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.