First Eagle Investment Management LLC Has $13.20 Million Position in Fabrinet (NYSE:FN)

First Eagle Investment Management LLC grew its holdings in Fabrinet (NYSE:FN) by 24.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 60,040 shares of the technology company’s stock after purchasing an additional 11,936 shares during the quarter. First Eagle Investment Management LLC owned about 0.17% of Fabrinet worth $13,202,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Wellington Management Group LLP boosted its stake in 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 purchasing an additional 19,677 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Fabrinet by 7.6% during the third quarter. Geode Capital Management LLC now owns 986,813 shares of the technology company’s stock valued at $233,359,000 after acquiring an additional 69,554 shares during the period. Whale Rock Capital Management LLC lifted its stake in shares of Fabrinet by 25.8% during the third quarter. Whale Rock Capital Management LLC now owns 855,767 shares of the technology company’s stock valued at $202,338,000 after acquiring an additional 175,684 shares during the period. JPMorgan Chase & Co. lifted its stake 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 valued at $156,145,000 after acquiring an additional 24,439 shares during the period. Finally, Baillie Gifford & Co. lifted its stake in shares of Fabrinet by 10.7% during the fourth quarter. Baillie Gifford & Co. now owns 553,038 shares of the technology company’s stock valued at $121,602,000 after acquiring an additional 53,250 shares during the period. Institutional investors and hedge funds own 97.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on FN. Barclays cut their price target on 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. cut their price target on Fabrinet from $275.00 to $265.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 4th. B. Riley lowered Fabrinet from a “neutral” rating to a “sell” rating and cut their price target for the company from $194.00 to $178.00 in a research note on Wednesday, November 20th. Fox Advisors initiated coverage on Fabrinet in a research note on Tuesday, February 18th. They set an “overweight” rating and a $270.00 price target on the stock. Finally, Needham & Company LLC reissued a “buy” rating and issued a $280.00 target price on shares of Fabrinet in a research note on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $246.63.

Fabrinet Trading Down 1.3 %

NYSE:FN opened at $220.85 on Friday. Fabrinet has a 1-year low of $159.69 and a 1-year high of $281.79. The business’s 50-day moving average price is $219.44 and its two-hundred day moving average price is $230.99. The firm has a market capitalization of $8.01 billion, a price-to-earnings ratio of 24.70 and a beta of 0.89.

Fabrinet (NYSE:FN) last announced its quarterly earnings results on Monday, February 3rd. The technology company reported $2.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.48 by ($0.10). Fabrinet had a return on equity of 18.48% and a net margin of 10.44%. Sell-side analysts predict that Fabrinet will post 9.4 earnings per share for the current 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.