Fabrinet (NYSE:FN) Shares Acquired by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Fabrinet (NYSE:FN) by 2.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,735 shares of the technology company’s stock after acquiring an additional 400 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Fabrinet were worth $3,185,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. DekaBank Deutsche Girozentrale boosted its holdings in Fabrinet by 2,873.6% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 62,088 shares of the technology company’s stock worth $12,120,000 after buying an additional 60,000 shares in the last quarter. New York State Teachers Retirement System boosted its holdings in Fabrinet by 4.1% during the fourth quarter. New York State Teachers Retirement System now owns 29,850 shares of the technology company’s stock worth $5,681,000 after buying an additional 1,183 shares in the last quarter. Park Place Capital Corp bought a new stake in Fabrinet during the fourth quarter worth approximately $26,000. Campbell Newman Asset Management Inc. boosted its holdings in Fabrinet by 0.4% during the fourth quarter. Campbell Newman Asset Management Inc. now owns 17,895 shares of the technology company’s stock worth $3,406,000 after buying an additional 64 shares in the last quarter. Finally, Trust Point Inc. bought a new stake in Fabrinet during the fourth quarter worth approximately $234,000. Institutional investors and hedge funds own 97.38% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on FN shares. Rosenblatt Securities restated a “buy” rating and set a $230.00 target price on shares of Fabrinet in a report on Tuesday, February 6th. Needham & Company LLC decreased their price objective on shares of Fabrinet from $230.00 to $220.00 and set a “buy” rating for the company in a research note on Friday, March 22nd. Northland Securities raised shares of Fabrinet from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $200.00 to $220.00 in a research note on Thursday, March 21st. Finally, JPMorgan Chase & Co. raised their price objective on shares of Fabrinet from $210.00 to $212.00 and gave the stock a “neutral” rating in a research note on Thursday, April 11th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $159.57.

Fabrinet Stock Down 3.9 %

FN stock opened at $166.19 on Thursday. Fabrinet has a 12-month low of $90.19 and a 12-month high of $229.02. The company has a market cap of $6.03 billion, a price-to-earnings ratio of 24.02 and a beta of 1.04. The company has a 50 day moving average of $196.16 and a two-hundred day moving average of $185.41.

Fabrinet (NYSE:FN) last released its earnings results on Monday, February 5th. The technology company reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.84 by $0.05. Fabrinet had a net margin of 9.35% and a return on equity of 17.27%. The company had revenue of $712.69 million during the quarter, compared to the consensus estimate of $699.76 million. On average, research analysts anticipate that Fabrinet will post 7.64 EPS for the current year.

Insiders Place Their Bets

In other Fabrinet news, Director Rollance E. Olson sold 10,000 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $205.52, for a total value of $2,055,200.00. Following the completion of the sale, the director now owns 25,981 shares in the company, valued at approximately $5,339,615.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.51% of the company’s stock.

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.