Fabrinet (NYSE:FN) Position Lifted by CIBC Asset Management Inc

CIBC Asset Management Inc raised its stake in shares of Fabrinet (NYSE:FN) by 5.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,113 shares of the technology company’s stock after acquiring an additional 60 shares during the quarter. CIBC Asset Management Inc’s holdings in Fabrinet were worth $245,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Baillie Gifford & Co. lifted its position in 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 last quarter. Principal Securities Inc. lifted its position in Fabrinet by 17.5% in the 4th quarter. Principal Securities Inc. now owns 4,381 shares of the technology company’s stock valued at $963,000 after purchasing an additional 652 shares during the last quarter. Nations Financial Group Inc. IA ADV lifted its position in Fabrinet by 2.4% in the 4th quarter. Nations Financial Group Inc. IA ADV now owns 2,941 shares of the technology company’s stock valued at $647,000 after purchasing an additional 68 shares during the last quarter. Rhumbline Advisers lifted its position in Fabrinet by 2.2% in the 4th quarter. Rhumbline Advisers now owns 111,934 shares of the technology company’s stock valued at $24,612,000 after purchasing an additional 2,440 shares during the last quarter. Finally, Van ECK Associates Corp lifted its position in Fabrinet by 36.2% in the 4th quarter. Van ECK Associates Corp now owns 32,087 shares of the technology company’s stock valued at $7,055,000 after purchasing an additional 8,533 shares during the last quarter. 97.38% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Rosenblatt Securities raised their target price on shares of Fabrinet from $280.00 to $285.00 and gave the company a “buy” rating in a research note on Tuesday, February 4th. Barclays lowered their target price on shares of Fabrinet from $292.00 to $245.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 4th. B. Riley cut shares of Fabrinet from a “neutral” rating to a “sell” rating and lowered their target price for the company from $194.00 to $178.00 in a research note on Wednesday, November 20th. JPMorgan Chase & Co. lowered their target price 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 assumed coverage on shares of Fabrinet in a research note on Tuesday, February 18th. They set an “overweight” rating and a $270.00 target price on the stock. 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.com, Fabrinet has a consensus rating of “Hold” and a consensus price target of $246.63.

Fabrinet Stock Down 4.8 %

NYSE:FN opened at $204.10 on Wednesday. Fabrinet has a 12 month low of $159.69 and a 12 month high of $281.79. The firm has a market cap of $7.40 billion, a price-to-earnings ratio of 22.83 and a beta of 0.92. The company’s 50 day moving average is $225.21 and its 200-day moving average is $234.66.

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%. Research analysts predict that Fabrinet will post 9.4 EPS 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.