Geode Capital Management LLC Acquires 20,045 Shares of Fabrinet (NYSE:FN)

Geode Capital Management LLC lifted its holdings in shares of Fabrinet (NYSE:FN) by 2.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,006,858 shares of the technology company’s stock after acquiring an additional 20,045 shares during the quarter. Geode Capital Management LLC’s holdings in Fabrinet were worth $221,430,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Barclays PLC boosted its stake in Fabrinet by 304.6% during the third quarter. Barclays PLC now owns 69,128 shares of the technology company’s stock worth $16,345,000 after acquiring an additional 52,042 shares in the last quarter. Salem Investment Counselors Inc. purchased a new position in shares of Fabrinet during the fourth quarter valued at approximately $518,000. Janney Montgomery Scott LLC grew its position in Fabrinet by 2.6% in the 4th quarter. Janney Montgomery Scott LLC now owns 3,279 shares of the technology company’s stock worth $721,000 after purchasing an additional 82 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Fabrinet by 3.8% in the third 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 during the period. Finally, Harbor Capital Advisors Inc. increased its position in Fabrinet by 33.2% during the fourth quarter. Harbor Capital Advisors Inc. now owns 13,901 shares of the technology company’s stock valued at $3,057,000 after acquiring an additional 3,468 shares during the last quarter. 97.38% of the stock is currently owned by institutional investors.

Fabrinet Stock Down 0.8 %

Shares of Fabrinet stock opened at $171.11 on Friday. Fabrinet has a twelve month low of $148.55 and a twelve month high of $281.79. The business has a 50-day moving average price of $209.73 and a 200-day moving average price of $228.93. The firm has a market cap of $6.21 billion, a price-to-earnings ratio of 19.14 and a beta of 0.89.

Fabrinet (NYSE:FN) last released its quarterly earnings data on Monday, February 3rd. The technology company reported $2.38 earnings per share (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%. On average, equities analysts expect that Fabrinet will post 9.4 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have weighed in on FN. Fox Advisors started coverage on shares of Fabrinet in a research report on Tuesday, February 18th. They issued an “overweight” rating and a $270.00 price target on the stock. Needham & Company LLC restated a “buy” rating and set a $280.00 target price on shares of Fabrinet in a research note on Monday, March 17th. B. Riley upgraded shares of 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 report on Friday. Rosenblatt Securities restated a “buy” rating and set a $285.00 target price on shares of Fabrinet in a research note on Friday, March 14th. Finally, JPMorgan Chase & Co. cut their price target on Fabrinet from $275.00 to $265.00 and set a “neutral” rating for the company in a research note on Tuesday, February 4th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Fabrinet currently has a consensus rating of “Hold” and an average target price of $250.14.

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.