Fabrinet (NYSE:FN) Shares Acquired by Benjamin Edwards Inc.

Benjamin Edwards Inc. grew its stake in shares of Fabrinet (NYSE:FN) by 8.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,887 shares of the technology company’s stock after acquiring an additional 231 shares during the quarter. Benjamin Edwards Inc.’s holdings in Fabrinet were worth $635,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Barclays PLC raised its stake in shares of Fabrinet by 304.6% in the third quarter. Barclays PLC now owns 69,128 shares of the technology company’s stock worth $16,345,000 after purchasing an additional 52,042 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Fabrinet during the 3rd quarter valued at approximately $70,000. Tidal Investments LLC boosted its holdings in shares of Fabrinet by 46.3% in the 3rd quarter. Tidal Investments LLC now owns 3,089 shares of the technology company’s stock valued at $730,000 after acquiring an additional 978 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of Fabrinet by 41.3% in the third quarter. Franklin Resources Inc. now owns 133,791 shares of the technology company’s stock worth $31,634,000 after acquiring an additional 39,076 shares during the period. Finally, Principal Financial Group Inc. raised its holdings in shares of Fabrinet by 18.5% during the third quarter. Principal Financial Group Inc. now owns 227,300 shares of the technology company’s stock worth $53,743,000 after purchasing an additional 35,504 shares during the last quarter. 97.38% of the stock is owned by hedge funds and other institutional investors.

Fabrinet Stock Performance

Shares of NYSE FN opened at $201.55 on Friday. The firm has a market cap of $7.22 billion, a PE ratio of 22.54 and a beta of 0.95. Fabrinet has a one year low of $148.55 and a one year high of $281.79. The firm has a fifty day moving average of $199.79 and a 200 day moving average of $220.09.

Fabrinet (NYSE:FN) last released its quarterly earnings results on Monday, May 5th. The technology company reported $2.52 earnings per share for the quarter, topping the consensus estimate of $2.47 by $0.05. Fabrinet had a net margin of 10.44% and a return on equity of 18.48%. The firm had revenue of $871.80 million during the quarter, compared to the consensus estimate of $857.12 million. During the same quarter in the prior year, the firm earned $2.39 EPS. The company’s revenue for the quarter was up 19.2% on a year-over-year basis. On average, equities analysts predict that Fabrinet will post 9.4 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Barclays set a $234.00 price target on Fabrinet and gave the stock an “equal weight” rating in a research report on Tuesday. Needham & Company LLC reissued a “buy” rating and issued a $280.00 price target on shares of Fabrinet in a report on Tuesday. JPMorgan Chase & Co. upped their price objective on Fabrinet from $220.00 to $235.00 and gave the stock a “neutral” rating in a research report on Tuesday. Rosenblatt Securities lifted their target price on shares of Fabrinet from $230.00 to $250.00 and gave the company a “buy” rating in a report on Tuesday. Finally, B. Riley upgraded shares of Fabrinet from a “sell” rating to a “neutral” rating and dropped their price target for the company from $178.00 to $176.00 in a research report on Friday, April 4th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $239.29.

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.