SG Americas Securities LLC increased its holdings in Fabrinet (NYSE:FN – Get Rating) by 93.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,170 shares of the technology company’s stock after purchasing an additional 5,403 shares during the quarter. SG Americas Securities LLC’s holdings in Fabrinet were worth $1,174,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Capital World Investors grew its position in shares of Fabrinet by 38.2% in the 4th quarter. Capital World Investors now owns 661,785 shares of the technology company’s stock valued at $78,402,000 after buying an additional 183,000 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Fabrinet by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 611,298 shares of the technology company’s stock worth $72,420,000 after acquiring an additional 15,084 shares during the period. abrdn plc increased its position in Fabrinet by 64.1% during the 4th quarter. abrdn plc now owns 471,281 shares of the technology company’s stock valued at $55,832,000 after purchasing an additional 184,134 shares during the period. Clark Capital Management Group Inc. increased its position in Fabrinet by 4.6% during the 4th quarter. Clark Capital Management Group Inc. now owns 411,351 shares of the technology company’s stock valued at $48,733,000 after purchasing an additional 18,137 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Fabrinet by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 334,656 shares of the technology company’s stock worth $39,647,000 after purchasing an additional 6,518 shares during the last quarter. 95.89% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Fabrinet from $115.00 to $88.00 and set a “neutral” rating for the company in a research report on Thursday, July 14th. Loop Capital began coverage on Fabrinet in a report on Monday, April 25th. They set a “buy” rating and a $129.00 price target for the company. B. Riley dropped their price objective on Fabrinet from $100.00 to $96.00 in a research note on Tuesday, May 3rd. Finally, StockNews.com raised Fabrinet from a “hold” rating to a “buy” rating in a research note on Friday. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Fabrinet presently has a consensus rating of “Moderate Buy” and an average target price of $113.17.
Fabrinet Stock Performance
Fabrinet (NYSE:FN – Get Rating) last released its quarterly earnings data on Monday, May 2nd. The technology company reported $1.35 EPS for the quarter, meeting the consensus estimate of $1.35. The firm had revenue of $564.40 million during the quarter, compared to the consensus estimate of $575.72 million. Fabrinet had a return on equity of 16.00% and a net margin of 8.54%. During the same quarter in the previous year, the company posted $1.03 earnings per share. On average, research analysts anticipate that Fabrinet will post 5.29 earnings per share for the current fiscal year.
Fabrinet Company 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.
- Get a free copy of the StockNews.com research report on Fabrinet (FN)
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