Hood River Capital Management LLC Acquires 77,238 Shares of Fabrinet (NYSE:FN)

Hood River Capital Management LLC increased its holdings in Fabrinet (NYSE:FN) by 51.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 228,742 shares of the technology company’s stock after purchasing an additional 77,238 shares during the quarter. Hood River Capital Management LLC owned 0.63% of Fabrinet worth $50,296,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Huntington National Bank increased its holdings in shares of Fabrinet by 66.7% in the fourth quarter. Huntington National Bank now owns 230 shares of the technology company’s stock worth $51,000 after buying an additional 92 shares during the period. IFP Advisors Inc increased its stake in Fabrinet by 576.2% in the 4th quarter. IFP Advisors Inc now owns 284 shares of the technology company’s stock worth $63,000 after purchasing an additional 242 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in Fabrinet in the third quarter valued at approximately $70,000. Assetmark Inc. boosted its stake in shares of Fabrinet by 12.0% during the fourth quarter. Assetmark Inc. now owns 484 shares of the technology company’s stock valued at $106,000 after purchasing an additional 52 shares during the period. Finally, Transamerica Financial Advisors Inc. grew its holdings in shares of Fabrinet by 17.2% in the fourth quarter. Transamerica Financial Advisors Inc. now owns 565 shares of the technology company’s stock worth $125,000 after purchasing an additional 83 shares during the last quarter. 97.38% of the stock is owned by institutional investors.

Fabrinet Stock Performance

Shares of NYSE:FN opened at $177.37 on Wednesday. The firm has a market capitalization of $6.36 billion, a P/E ratio of 19.84 and a beta of 0.97. The stock has a 50 day moving average price of $202.00 and a 200-day moving average price of $224.18. Fabrinet has a 52-week low of $148.55 and a 52-week high of $281.79.

Fabrinet (NYSE:FN) last posted 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 forecast that Fabrinet will post 9.4 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on FN shares. Needham & Company LLC reissued a “buy” rating and set a $280.00 price target on shares of Fabrinet in a research report on Monday, March 17th. B. Riley raised shares of Fabrinet from a “sell” rating to a “neutral” rating and lowered their price objective for the company from $178.00 to $176.00 in a research note on Friday, April 4th. Barclays cut their target price on Fabrinet from $292.00 to $245.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 4th. Rosenblatt Securities reduced their price target on Fabrinet from $280.00 to $230.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, Fox Advisors initiated coverage on Fabrinet in a report on Tuesday, February 18th. They issued an “overweight” rating and a $270.00 price objective for the company. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $235.86.

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.