Fabrinet (NYSE:FN) Shares Acquired by Cerity Partners LLC

Cerity Partners LLC increased its position in shares of Fabrinet (NYSE:FN) by 41.4% during the third quarter, Holdings Channel.com reports. The fund owned 2,144 shares of the technology company’s stock after acquiring an additional 628 shares during the quarter. Cerity Partners LLC’s holdings in Fabrinet were worth $507,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its position in shares of Fabrinet by 14.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 480,550 shares of the technology company’s stock valued at $113,621,000 after acquiring an additional 61,491 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Fabrinet by 4.1% during the second quarter. Bank of New York Mellon Corp now owns 314,665 shares of the technology company’s stock valued at $77,027,000 after purchasing an additional 12,409 shares during the last quarter. Epoch Investment Partners Inc. boosted its position in shares of Fabrinet by 9.6% in the 2nd quarter. Epoch Investment Partners Inc. now owns 302,006 shares of the technology company’s stock valued at $73,928,000 after purchasing an additional 26,475 shares during the period. Driehaus Capital Management LLC increased its stake in Fabrinet by 183.5% in the 2nd quarter. Driehaus Capital Management LLC now owns 277,978 shares of the technology company’s stock worth $68,046,000 after purchasing an additional 179,943 shares in the last quarter. Finally, Victory Capital Management Inc. raised its holdings in Fabrinet by 19.8% during the 2nd quarter. Victory Capital Management Inc. now owns 236,705 shares of the technology company’s stock worth $57,943,000 after buying an additional 39,063 shares during the period. 97.38% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have commented on the stock. B. Riley cut shares of Fabrinet from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $194.00 to $178.00 in a report on Wednesday, November 20th. Rosenblatt Securities raised their price objective on shares of Fabrinet from $260.00 to $280.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. Needham & Company LLC initiated coverage on shares of Fabrinet in a research note on Tuesday, November 5th. They set a “buy” rating and a $280.00 target price on the stock. Barclays started coverage on Fabrinet in a research report on Thursday, November 14th. They issued an “equal weight” rating and a $292.00 target price for the company. Finally, JPMorgan Chase & Co. upped their price target on Fabrinet from $240.00 to $285.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. One investment 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 MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $252.14.

Fabrinet Stock Up 3.5 %

Fabrinet stock opened at $243.00 on Friday. Fabrinet has a 12 month low of $159.69 and a 12 month high of $278.38. The stock has a market cap of $8.81 billion, a P/E ratio of 28.76 and a beta of 0.92. The company’s fifty day simple moving average is $244.43 and its 200-day simple moving average is $238.22.

Fabrinet (NYSE:FN) last issued its earnings results on Monday, November 4th. The technology company reported $2.39 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 for the quarter, compared to the consensus estimate of $771.24 million. During the same quarter in the previous year, the company posted $1.78 earnings per share. The business’s quarterly revenue was up 17.3% compared to the same quarter last year. On average, equities research analysts expect that Fabrinet will post 9.1 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.