Fabrinet (NYSE:FN) Shares Bought by Teacher Retirement System of Texas

Teacher Retirement System of Texas boosted its stake in shares of Fabrinet (NYSE:FN) by 29.2% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 25,999 shares of the technology company’s stock after purchasing an additional 5,869 shares during the period. Teacher Retirement System of Texas’ holdings in Fabrinet were worth $5,717,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Wellington Management Group LLP boosted its stake in shares of Fabrinet by 1.7% in 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 during the last quarter. Geode Capital Management LLC grew its stake in shares of Fabrinet by 7.6% during 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 during the period. Whale Rock Capital Management LLC grew its stake in shares of Fabrinet by 25.8% during the 3rd quarter. Whale Rock Capital Management LLC now owns 855,767 shares of the technology company’s stock worth $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 3rd quarter. JPMorgan Chase & Co. now owns 660,401 shares of the technology company’s stock valued at $156,145,000 after purchasing an additional 24,439 shares in the last quarter. Finally, Baillie Gifford & Co. lifted its stake in shares of Fabrinet by 10.7% in the 4th quarter. Baillie Gifford & Co. now owns 553,038 shares of the technology company’s stock valued at $121,602,000 after purchasing an additional 53,250 shares during the period. Hedge funds and other institutional investors own 97.38% of the company’s stock.

Analysts Set New Price Targets

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

Fabrinet Trading Down 0.7 %

Shares of NYSE:FN opened at $220.57 on Monday. The company has a market capitalization of $8.00 billion, a price-to-earnings ratio of 24.67 and a beta of 0.89. Fabrinet has a 12-month low of $159.69 and a 12-month high of $281.79. The business has a 50-day moving average price of $218.54 and a 200 day moving average price of $230.33.

Fabrinet (NYSE:FN) last announced its quarterly earnings results 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 net margin of 10.44% and a return on equity of 18.48%. As a group, equities research analysts predict that Fabrinet will post 9.4 earnings per share for the current fiscal year.

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.