Swiss National Bank Buys 500 Shares of Fabrinet (NYSE:FN)

Swiss National Bank grew its position in shares of Fabrinet (NYSE:FN) by 0.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 71,040 shares of the technology company’s stock after buying an additional 500 shares during the quarter. Swiss National Bank owned 0.20% of Fabrinet worth $15,620,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of FN. Barclays PLC boosted its stake in Fabrinet by 304.6% in the third quarter. Barclays PLC now owns 69,128 shares of the technology company’s stock valued at $16,345,000 after acquiring an additional 52,042 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Fabrinet by 14.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 480,550 shares of the technology company’s stock valued at $113,621,000 after purchasing an additional 61,491 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Fabrinet during the third quarter valued at $2,398,000. Pathstone Holdings LLC grew its holdings in Fabrinet by 40.7% during the third quarter. Pathstone Holdings LLC now owns 8,219 shares of the technology company’s stock valued at $1,943,000 after purchasing an additional 2,378 shares during the period. Finally, Freedom Investment Management Inc. increased its position in Fabrinet by 106.2% in the third quarter. Freedom Investment Management Inc. now owns 4,969 shares of the technology company’s stock worth $1,175,000 after buying an additional 2,559 shares during the last quarter. Hedge funds and other institutional investors own 97.38% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on FN. Rosenblatt Securities reiterated a “buy” rating and set a $285.00 price target on shares of Fabrinet in a research note on Friday, March 14th. Needham & Company LLC reiterated a “buy” rating and set a $280.00 target price on shares of Fabrinet in a research report on Monday. B. Riley lowered shares of Fabrinet from a “neutral” rating to a “sell” rating and lowered their price target for the company from $194.00 to $178.00 in a research report on Wednesday, November 20th. JPMorgan Chase & Co. dropped their price target on shares of Fabrinet from $275.00 to $265.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 4th. Finally, Fox Advisors started coverage on shares of Fabrinet in a report on Tuesday, February 18th. They issued an “overweight” rating and a $270.00 price objective for the company. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $246.63.

Fabrinet Trading Up 1.0 %

Shares of NYSE:FN opened at $225.07 on Thursday. The company has a 50 day moving average of $218.92 and a 200 day moving average of $230.45. The stock has a market cap of $8.16 billion, a P/E ratio of 25.18 and a beta of 0.89. Fabrinet has a 12 month low of $159.69 and a 12 month high of $281.79.

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

About Fabrinet

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.