Fabrinet (NYSE:FN) Shares Acquired by GAMMA Investing LLC

GAMMA Investing LLC boosted its holdings in Fabrinet (NYSE:FN) by 11.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 929 shares of the technology company’s stock after buying an additional 96 shares during the quarter. GAMMA Investing LLC’s holdings in Fabrinet were worth $204,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Wellington Management Group LLP grew its holdings in shares of Fabrinet by 1.7% in the 3rd quarter. Wellington Management Group LLP now owns 1,169,162 shares of the technology company’s stock worth $276,437,000 after acquiring an additional 19,677 shares during the last quarter. Geode Capital Management LLC increased its stake in Fabrinet by 7.6% in the 3rd quarter. Geode Capital Management LLC now owns 986,813 shares of the technology company’s stock worth $233,359,000 after purchasing an additional 69,554 shares in the last quarter. Whale Rock Capital Management LLC raised its holdings in Fabrinet by 25.8% during the 3rd quarter. Whale Rock Capital Management LLC now owns 855,767 shares of the technology company’s stock worth $202,338,000 after buying an additional 175,684 shares during the period. JPMorgan Chase & Co. lifted its stake in 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 buying an additional 24,439 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Fabrinet by 14.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 480,550 shares of the technology company’s stock worth $113,621,000 after buying an additional 61,491 shares during the period. Institutional investors own 97.38% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on FN shares. Needham & Company LLC initiated coverage on shares of Fabrinet in a research report on Tuesday, November 5th. They issued a “buy” rating and a $280.00 price target for the company. B. Riley lowered Fabrinet from a “neutral” rating to a “sell” rating and reduced their target price for the company from $194.00 to $178.00 in a report on Wednesday, November 20th. Finally, Barclays assumed coverage on Fabrinet in a report on Thursday, November 14th. They set an “equal weight” rating and a $292.00 price target on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Fabrinet has an average rating of “Hold” and an average price target of $252.14.

Fabrinet Stock Down 1.5 %

Shares of NYSE:FN opened at $229.21 on Wednesday. The firm has a fifty day moving average of $236.17 and a two-hundred day moving average of $236.20. Fabrinet has a 12-month low of $159.69 and a 12-month high of $278.38. The firm has a market capitalization of $8.31 billion, a P/E ratio of 27.13 and a beta of 0.93.

Fabrinet (NYSE:FN) last released its quarterly earnings data on Monday, November 4th. The technology company reported $2.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.38 by $0.01. Fabrinet had a return on equity of 18.08% and a net margin of 10.28%. The firm had revenue of $804.20 million during the quarter, compared to analysts’ expectations of $771.24 million. During the same quarter last year, the firm earned $1.78 earnings per share. The business’s revenue for the quarter was up 17.3% on a year-over-year basis. Equities research analysts expect that Fabrinet will post 9.1 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.