Benjamin Edwards Inc. Grows Stock Position in Fabrinet (NYSE:FN)

Benjamin Edwards Inc. boosted its position in shares of Fabrinet (NYSE:FN) by 8.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,887 shares of the technology company’s stock after buying an additional 231 shares during the quarter. Benjamin Edwards Inc.’s holdings in Fabrinet were worth $635,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised its position in Fabrinet by 2.8% in the 4th quarter. Vanguard Group Inc. now owns 4,137,579 shares of the technology company’s stock worth $909,771,000 after purchasing an additional 113,186 shares during the period. FMR LLC raised its holdings in shares of Fabrinet by 13.1% in the fourth quarter. FMR LLC now owns 2,213,887 shares of the technology company’s stock worth $486,789,000 after buying an additional 257,164 shares during the period. Wasatch Advisors LP lifted its stake in shares of Fabrinet by 47.0% during the 4th quarter. Wasatch Advisors LP now owns 1,132,636 shares of the technology company’s stock worth $249,044,000 after acquiring an additional 362,064 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Fabrinet by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 1,006,858 shares of the technology company’s stock valued at $221,430,000 after acquiring an additional 20,045 shares during the period. Finally, JPMorgan Chase & Co. grew its position in Fabrinet by 1.4% in the 4th quarter. JPMorgan Chase & Co. now owns 669,459 shares of the technology company’s stock valued at $147,201,000 after acquiring an additional 9,058 shares during the last quarter. Institutional investors own 97.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on FN shares. B. Riley raised shares of Fabrinet from a “sell” rating to a “neutral” rating and lowered their target price for the company from $178.00 to $176.00 in a research note on Friday, April 4th. Barclays set a $234.00 price objective on shares of Fabrinet and gave the company an “equal weight” rating in a research report on Tuesday. Rosenblatt Securities raised their target price on shares of Fabrinet from $230.00 to $250.00 and gave the stock a “buy” rating in a research report on Tuesday. Needham & Company LLC reiterated a “buy” rating and issued a $280.00 price target on shares of Fabrinet in a report on Tuesday. Finally, JPMorgan Chase & Co. raised their price objective on Fabrinet from $220.00 to $235.00 and gave the stock a “neutral” rating in a report on Tuesday. Four research 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, Fabrinet has a consensus rating of “Hold” and a consensus target price of $239.29.

Fabrinet Trading Down 3.1 %

Shares of NYSE:FN opened at $201.55 on Friday. The company has a market capitalization of $7.22 billion, a PE ratio of 22.54 and a beta of 0.95. Fabrinet has a 12-month low of $148.55 and a 12-month high of $281.79. The business’s fifty day simple moving average is $199.79 and its 200-day simple moving average is $220.09.

Fabrinet (NYSE:FN) last announced its earnings results on Monday, May 5th. The technology company reported $2.52 EPS for the quarter, topping analysts’ consensus estimates of $2.47 by $0.05. Fabrinet had a net margin of 10.44% and a return on equity of 18.48%. The business had revenue of $871.80 million during the quarter, compared to the consensus estimate of $857.12 million. During the same period in the previous year, the company posted $2.39 earnings per share. The firm’s revenue was up 19.2% on a year-over-year basis. Research analysts predict 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.