First Eagle Investment Management LLC Purchases 11,936 Shares of Fabrinet (NYSE:FN)

First Eagle Investment Management LLC increased its position in shares of Fabrinet (NYSE:FN) by 24.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 60,040 shares of the technology company’s stock after buying an additional 11,936 shares during the period. First Eagle Investment Management LLC’s holdings in Fabrinet were worth $13,202,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Cynosure Group LLC grew its holdings in shares of Fabrinet by 3.4% during the third quarter. Cynosure Group LLC now owns 1,560 shares of the technology company’s stock worth $369,000 after buying an additional 51 shares in the last quarter. Assetmark Inc. grew its holdings in shares of Fabrinet by 12.0% during the fourth 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. Huntington National Bank grew its holdings in shares of Fabrinet by 70.4% during the third quarter. Huntington National Bank now owns 138 shares of the technology company’s stock worth $33,000 after buying an additional 57 shares in the last quarter. CIBC Asset Management Inc grew its holdings in shares of Fabrinet by 5.7% during the fourth quarter. CIBC Asset Management Inc now owns 1,113 shares of the technology company’s stock worth $245,000 after buying an additional 60 shares in the last quarter. Finally, Nations Financial Group Inc. IA ADV grew its holdings in shares of Fabrinet by 2.4% during the fourth quarter. Nations Financial Group Inc. IA ADV now owns 2,941 shares of the technology company’s stock worth $647,000 after buying an additional 68 shares in the last quarter. 97.38% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. B. Riley downgraded Fabrinet from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $194.00 to $178.00 in a report on Wednesday, November 20th. Fox Advisors began coverage on Fabrinet in a research note on Tuesday, February 18th. They issued an “overweight” rating and a $270.00 price target for the company. Barclays decreased their price target on Fabrinet from $292.00 to $245.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 4th. JPMorgan Chase & Co. decreased their price target on Fabrinet from $275.00 to $265.00 and set a “neutral” rating for the company in a research note on Tuesday, February 4th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $285.00 price target on shares of Fabrinet in a research note on Friday. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $246.63.

Fabrinet Stock Down 1.3 %

FN opened at $220.85 on Friday. Fabrinet has a 12-month low of $159.69 and a 12-month high of $281.79. The stock has a market cap of $8.01 billion, a price-to-earnings ratio of 24.70 and a beta of 0.89. The business has a 50 day moving average of $219.44 and a 200-day moving average of $230.99.

Fabrinet (NYSE:FN) last released 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 net margin of 10.44% and a return on equity of 18.48%. As a group, analysts expect that Fabrinet will post 9.4 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.