Arizona State Retirement System Has $2.31 Million Holdings in Fabrinet (NYSE:FN)

Arizona State Retirement System boosted its stake in shares of Fabrinet (NYSE:FN) by 0.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,492 shares of the technology company’s stock after buying an additional 84 shares during the period. Arizona State Retirement System’s holdings in Fabrinet were worth $2,307,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Wellington Management Group LLP raised its holdings in Fabrinet by 1.7% during the 3rd 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 period. Geode Capital Management LLC increased its holdings in shares of Fabrinet by 7.6% in the 3rd quarter. Geode Capital Management LLC now owns 986,813 shares of the technology company’s stock valued at $233,359,000 after purchasing an additional 69,554 shares during the period. Whale Rock Capital Management LLC increased its holdings in shares of Fabrinet by 25.8% in the 3rd quarter. Whale Rock Capital Management LLC now owns 855,767 shares of the technology company’s stock valued at $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% in 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 during the period. Finally, Baillie Gifford & Co. increased its holdings 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. Institutional investors and hedge funds own 97.38% of the company’s stock.

Fabrinet Stock Down 2.9 %

Shares of Fabrinet stock opened at $188.22 on Tuesday. The stock has a market capitalization of $6.83 billion, a P/E ratio of 21.05 and a beta of 0.89. The stock has a 50 day moving average price of $220.36 and a two-hundred day moving average price of $231.95. Fabrinet has a 12-month low of $159.69 and a 12-month high of $281.79.

Fabrinet (NYSE:FN) last announced its earnings results 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 return on equity of 18.48% and a net margin of 10.44%. Sell-side analysts anticipate that Fabrinet will post 9.4 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on FN. Needham & Company LLC reiterated a “buy” rating and issued a $280.00 target price on shares of Fabrinet in a report on Tuesday, February 4th. Barclays dropped their target price on 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. dropped their target price on Fabrinet from $275.00 to $265.00 and set a “neutral” rating on the stock in a report on Tuesday, February 4th. Rosenblatt Securities upped their target price on Fabrinet from $280.00 to $285.00 and gave the company a “buy” rating in a report on Tuesday, February 4th. Finally, Fox Advisors began coverage on Fabrinet in a report on Tuesday, February 18th. They issued an “overweight” rating and a $270.00 target price on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $246.63.

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.