Stephens Investment Management Group LLC Makes New $28.22 Million Investment in Fabrinet (NYSE:FN)

Stephens Investment Management Group LLC acquired a new stake in Fabrinet (NYSE:FN) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 128,334 shares of the technology company’s stock, valued at approximately $28,218,000. Stephens Investment Management Group LLC owned about 0.35% of Fabrinet as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Huntington National Bank boosted its position in Fabrinet by 70.4% during the third quarter. Huntington National Bank now owns 138 shares of the technology company’s stock valued at $33,000 after acquiring an additional 57 shares during the last quarter. NBC Securities Inc. boosted its position in shares of Fabrinet by 732.0% during the 3rd quarter. NBC Securities Inc. now owns 208 shares of the technology company’s stock valued at $49,000 after purchasing an additional 183 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Fabrinet during the third quarter worth approximately $52,000. UMB Bank n.a. increased its holdings in Fabrinet by 252.9% in the third quarter. UMB Bank n.a. now owns 240 shares of the technology company’s stock worth $57,000 after purchasing an additional 172 shares in the last quarter. Finally, Eastern Bank acquired a new position in Fabrinet in the third quarter valued at approximately $59,000. 97.38% of the stock is currently owned by institutional investors and hedge funds.

Fabrinet Price Performance

NYSE:FN opened at $212.43 on Monday. Fabrinet has a one year low of $159.69 and a one year high of $281.79. The company has a market cap of $7.70 billion, a PE ratio of 23.76 and a beta of 0.92. The firm has a 50-day moving average of $229.66 and a 200-day moving average of $233.66.

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

Analysts Set New Price Targets

FN has been the subject of several recent analyst reports. Rosenblatt Securities raised their price objective on shares of Fabrinet from $280.00 to $285.00 and gave the stock a “buy” rating in a research report on Tuesday, February 4th. B. Riley cut shares of Fabrinet from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $194.00 to $178.00 in a report on Wednesday, November 20th. 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 report on Tuesday, February 4th. JPMorgan Chase & Co. reduced their target price 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, Needham & Company LLC reaffirmed a “buy” rating and issued a $280.00 target price on shares of Fabrinet in a research report on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $243.29.

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.