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

Schroder Investment Management Group raised its holdings in Fabrinet (NYSE:FN) by 85.6% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 82,629 shares of the technology company’s stock after acquiring an additional 38,100 shares during the quarter. Schroder Investment Management Group owned approximately 0.23% of Fabrinet worth $17,745,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of FN. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Fabrinet during the third quarter valued at approximately $52,000. Public Employees Retirement System of Ohio purchased a new position in Fabrinet during the 3rd quarter worth $61,000. IFP Advisors Inc raised its position in Fabrinet by 576.2% during the 4th quarter. IFP Advisors Inc now owns 284 shares of the technology company’s stock valued at $63,000 after purchasing an additional 242 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Fabrinet in the 3rd quarter worth $70,000. Finally, Assetmark Inc. grew its position in shares of Fabrinet by 12.0% during the 4th quarter. Assetmark Inc. now owns 484 shares of the technology company’s stock worth $106,000 after buying an additional 52 shares in the last quarter. Hedge funds and other institutional investors own 97.38% of the company’s stock.

Wall Street Analyst Weigh In

FN has been the subject of several recent research reports. JPMorgan Chase & Co. decreased their price objective on Fabrinet from $275.00 to $265.00 and set a “neutral” rating for the company in a report on Tuesday, February 4th. Fox Advisors assumed coverage on shares of Fabrinet in a report on Tuesday, February 18th. They issued an “overweight” rating and a $270.00 price target for the company. Barclays dropped their price objective on shares of Fabrinet from $292.00 to $245.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 4th. Needham & Company LLC reissued a “buy” rating and issued a $280.00 price objective on shares of Fabrinet in a research note on Monday, March 17th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $285.00 target price on shares of Fabrinet in a research report on Friday, March 14th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Fabrinet currently has a consensus rating of “Hold” and a consensus target price of $250.43.

Fabrinet Stock Up 2.7 %

Shares of FN opened at $202.35 on Thursday. The company has a 50 day moving average of $213.35 and a two-hundred day moving average of $229.71. Fabrinet has a twelve month low of $159.69 and a twelve month high of $281.79. The company has a market cap of $7.34 billion, a price-to-earnings ratio of 22.63 and a beta of 0.89.

Fabrinet (NYSE:FN) last posted its quarterly earnings data on Monday, February 3rd. The technology company reported $2.38 earnings per share 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, sell-side analysts expect that Fabrinet will post 9.4 EPS for the current year.

Fabrinet Company 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.