Zurcher Kantonalbank Zurich Cantonalbank Acquires 1,262 Shares of Fabrinet (NYSE:FN)

Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Fabrinet (NYSE:FN) by 15.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 9,534 shares of the technology company’s stock after purchasing an additional 1,262 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Fabrinet were worth $2,096,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in FN. Wedge Capital Management L L P NC purchased a new stake in Fabrinet during the 4th quarter valued at $63,222,000. Whale Rock Capital Management LLC boosted its position in Fabrinet by 25.8% during the 3rd quarter. Whale Rock Capital Management LLC now owns 855,767 shares of the technology company’s stock valued at $202,338,000 after buying an additional 175,684 shares during the period. Stephens Investment Management Group LLC purchased a new stake in Fabrinet during the 4th quarter valued at $28,218,000. Raymond James Financial Inc. purchased a new stake in shares of Fabrinet in the 4th quarter worth about $24,844,000. Finally, World Investment Advisors LLC purchased a new stake in shares of Fabrinet in the 3rd quarter worth about $20,187,000. Institutional investors own 97.38% of the company’s stock.

Analysts Set New Price Targets

FN has been the subject of several research analyst reports. Fox Advisors initiated coverage on shares of Fabrinet in a research report on Tuesday, February 18th. They issued an “overweight” rating and a $270.00 target price for the company. B. Riley cut shares of Fabrinet from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $194.00 to $178.00 in a research report on Wednesday, November 20th. Needham & Company LLC reaffirmed a “buy” rating and issued a $280.00 target price on shares of Fabrinet in a research report on Tuesday, February 4th. JPMorgan Chase & Co. dropped their target price on shares of Fabrinet from $275.00 to $265.00 and set a “neutral” rating for the company in a research report on Tuesday, February 4th. Finally, Barclays dropped their target price on shares of Fabrinet from $292.00 to $245.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 4th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $246.63.

Fabrinet Stock Performance

NYSE:FN opened at $220.85 on Monday. The firm has a market cap of $8.01 billion, a P/E ratio of 24.70 and a beta of 0.89. Fabrinet has a fifty-two week low of $159.69 and a fifty-two week high of $281.79. The firm has a 50-day simple moving average of $219.44 and a two-hundred day simple moving average of $230.79.

Fabrinet (NYSE:FN) last announced 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 return on equity of 18.48% and a net margin of 10.44%. On average, equities research analysts predict that Fabrinet will post 9.4 EPS for the current 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.