California Public Employees Retirement System Grows Position in Fabrinet (NYSE:FN)

California Public Employees Retirement System lifted its stake in Fabrinet (NYSE:FN – Get Rating) by 85.7% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 28,121 shares of the technology company’s stock after buying an additional 12,978 shares during the quarter. California Public Employees Retirement System owned approximately 0.08% of Fabrinet worth $3,606,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Swiss National Bank raised its stake in Fabrinet by 0.8% during the fourth quarter. Swiss National Bank now owns 87,940 shares of the technology company’s stock valued at $11,276,000 after purchasing an additional 700 shares in the last quarter. Boston Partners raised its stake in Fabrinet by 2.4% during the fourth quarter. Boston Partners now owns 6,478 shares of the technology company’s stock valued at $831,000 after purchasing an additional 151 shares in the last quarter. Arizona State Retirement System raised its stake in Fabrinet by 2.9% during the fourth quarter. Arizona State Retirement System now owns 10,284 shares of the technology company’s stock valued at $1,319,000 after purchasing an additional 288 shares in the last quarter. Commonwealth Equity Services LLC raised its stake in Fabrinet by 2.8% during the fourth quarter. Commonwealth Equity Services LLC now owns 3,262 shares of the technology company’s stock valued at $418,000 after purchasing an additional 89 shares in the last quarter. Finally, LPL Financial LLC purchased a new stake in Fabrinet during the fourth quarter valued at $433,000. Hedge funds and other institutional investors own 97.13% of the company’s stock.

Fabrinet Trading Up 0.4 %

NYSE FN opened at $95.28 on Friday. The company’s 50-day moving average price is $102.66 and its 200-day moving average price is $118.68. The stock has a market cap of $3.46 billion, a PE ratio of 14.48 and a beta of 1.15. Fabrinet has a 12 month low of $74.57 and a 12 month high of $140.18.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on FN shares. Loop Capital upped their price target on shares of Fabrinet from $146.00 to $158.00 in a research note on Tuesday, February 7th. Northland Securities reduced their target price on shares of Fabrinet from $155.00 to $135.00 in a research note on Tuesday, May 9th. Royal Bank of Canada increased their target price on shares of Fabrinet from $39.00 to $40.00 and gave the company a “sector perform” rating in a research note on Wednesday, March 1st. Needham & Company LLC increased their target price on shares of Fabrinet from $140.00 to $150.00 and gave the company a “buy” rating in a research note on Tuesday, February 7th. Finally, B. Riley increased their target price on shares of Fabrinet from $110.00 to $115.00 and gave the company a “neutral” rating in a research note on Tuesday, February 7th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $122.57.

Fabrinet Company Profile

(Get Rating)

Fabrinet engages in the provision of optical packaging and electronic manufacturing services to original equipment manufacturers. The firm’s engineering services include process design, failure analysis, reliability testing, tooling design, and real-time traceability system. Its manufacturing operations offer sensors, subsystems, customized optics, and optical modules and components.