Bridge City Capital LLC Purchases 2,668 Shares of Fabrinet (NYSE:FN)

Bridge City Capital LLC boosted its position in Fabrinet (NYSE:FN) by 12.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,957 shares of the technology company’s stock after acquiring an additional 2,668 shares during the quarter. Fabrinet accounts for 1.4% of Bridge City Capital LLC’s holdings, making the stock its 22nd largest holding. Bridge City Capital LLC owned 0.07% of Fabrinet worth $5,268,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in FN. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Fabrinet during the third quarter worth $52,000. Public Employees Retirement System of Ohio bought a new stake in shares of Fabrinet during the third quarter worth $61,000. IFP Advisors Inc grew its stake in shares of Fabrinet by 576.2% during the fourth quarter. IFP Advisors Inc now owns 284 shares of the technology company’s stock worth $63,000 after buying an additional 242 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Fabrinet during the third quarter worth $70,000. Finally, Transamerica Financial Advisors Inc. acquired a new position in shares of Fabrinet during the third quarter worth $114,000. 97.38% of the stock is owned by institutional investors.

Fabrinet Trading Down 0.7 %

Shares of FN stock opened at $220.57 on Friday. The stock has a market capitalization of $8.00 billion, a P/E ratio of 24.67 and a beta of 0.89. The firm’s 50 day moving average is $218.54 and its 200 day moving average is $230.29. Fabrinet has a 12 month low of $159.69 and a 12 month high of $281.79.

Fabrinet (NYSE:FN) last announced its quarterly earnings results 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, equities analysts predict that Fabrinet will post 9.4 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Rosenblatt Securities reiterated a “buy” rating and set a $285.00 price target on shares of Fabrinet in a report on Friday, March 14th. Barclays dropped their target price on shares of Fabrinet from $292.00 to $245.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 4th. Fox Advisors began coverage on shares of Fabrinet in a report on Tuesday, February 18th. They issued an “overweight” rating and a $270.00 target price on the stock. Needham & Company LLC reiterated a “buy” rating and set a $280.00 price objective on shares of Fabrinet in a report on Monday, March 17th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Fabrinet from $275.00 to $265.00 and set a “neutral” rating on the stock in a report on Tuesday, February 4th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Fabrinet presently has an average rating of “Hold” and an average target price of $250.43.

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.