Diversified Trust Co Has $1.81 Million Position in Fabrinet (NYSE:FN)

Diversified Trust Co lifted its stake in shares of Fabrinet (NYSE:FN) by 6.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 8,251 shares of the technology company’s stock after buying an additional 482 shares during the quarter. Diversified Trust Co’s holdings in Fabrinet were worth $1,814,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Wellington Management Group LLP lifted its holdings in shares of Fabrinet by 1.7% during the third quarter. Wellington Management Group LLP now owns 1,169,162 shares of the technology company’s stock worth $276,437,000 after buying an additional 19,677 shares in the last quarter. Geode Capital Management LLC raised its stake in Fabrinet by 7.6% in the 3rd quarter. Geode Capital Management LLC now owns 986,813 shares of the technology company’s stock worth $233,359,000 after purchasing an additional 69,554 shares in the last quarter. Whale Rock Capital Management LLC boosted its holdings in Fabrinet by 25.8% in the 3rd quarter. Whale Rock Capital Management LLC now owns 855,767 shares of the technology company’s stock valued at $202,338,000 after purchasing an additional 175,684 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Fabrinet by 3.8% during the third quarter. JPMorgan Chase & Co. now owns 660,401 shares of the technology company’s stock worth $156,145,000 after purchasing an additional 24,439 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Fabrinet by 14.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 480,550 shares of the technology company’s stock valued at $113,621,000 after buying an additional 61,491 shares in the last quarter. Institutional investors own 97.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Needham & Company LLC assumed coverage on Fabrinet in a research report on Tuesday, November 5th. They set a “buy” rating and a $280.00 price target on the stock. B. Riley cut Fabrinet from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $194.00 to $178.00 in a research report on Wednesday, November 20th. Finally, Barclays assumed coverage on shares of Fabrinet in a research report on Thursday, November 14th. They set an “equal weight” rating and a $292.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $252.14.

Fabrinet Stock Up 1.7 %

Fabrinet stock opened at $233.16 on Thursday. The stock has a market cap of $8.46 billion, a PE ratio of 27.59 and a beta of 0.93. Fabrinet has a 12-month low of $159.69 and a 12-month high of $278.38. The business’s 50-day moving average price is $235.35 and its two-hundred day moving average price is $236.05.

Fabrinet (NYSE:FN) last released its quarterly earnings data on Monday, November 4th. The technology company reported $2.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.38 by $0.01. Fabrinet had a net margin of 10.28% and a return on equity of 18.08%. The business had revenue of $804.20 million during the quarter, compared to analysts’ expectations of $771.24 million. During the same period in the prior year, the company earned $1.78 EPS. The firm’s quarterly revenue was up 17.3% compared to the same quarter last year. As a group, analysts expect that Fabrinet will post 9.1 earnings per share 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.