Baillie Gifford & Co. Acquires 53,250 Shares of Fabrinet (NYSE:FN)

Baillie Gifford & Co. boosted its holdings in shares of Fabrinet (NYSE:FN) by 10.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 553,038 shares of the technology company’s stock after buying an additional 53,250 shares during the period. Baillie Gifford & Co. owned approximately 1.52% of Fabrinet worth $121,602,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Principal Securities Inc. boosted its stake in Fabrinet by 17.5% during the fourth quarter. Principal Securities Inc. now owns 4,381 shares of the technology company’s stock valued at $963,000 after buying an additional 652 shares during the period. Nations Financial Group Inc. IA ADV boosted its stake in Fabrinet by 2.4% during the fourth quarter. Nations Financial Group Inc. IA ADV now owns 2,941 shares of the technology company’s stock valued at $647,000 after buying an additional 68 shares during the period. Rhumbline Advisers boosted its stake in Fabrinet by 2.2% during the fourth quarter. Rhumbline Advisers now owns 111,934 shares of the technology company’s stock valued at $24,612,000 after buying an additional 2,440 shares during the period. Van ECK Associates Corp lifted its stake in Fabrinet by 36.2% during the fourth quarter. Van ECK Associates Corp now owns 32,087 shares of the technology company’s stock worth $7,055,000 after purchasing an additional 8,533 shares during the last quarter. Finally, Legato Capital Management LLC lifted its stake in Fabrinet by 2.8% during the fourth quarter. Legato Capital Management LLC now owns 9,378 shares of the technology company’s stock worth $2,062,000 after purchasing an additional 251 shares during the last quarter. Institutional investors own 97.38% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on FN shares. JPMorgan Chase & Co. dropped their price target on Fabrinet from $275.00 to $265.00 and set a “neutral” rating for the company in a research note on Tuesday, February 4th. Barclays dropped their price target on Fabrinet from $292.00 to $245.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 4th. Rosenblatt Securities lifted their price target on Fabrinet from $280.00 to $285.00 and gave the stock a “buy” rating in a research note on Tuesday, February 4th. B. Riley lowered Fabrinet from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $194.00 to $178.00 in a research note on Wednesday, November 20th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $280.00 price target on shares of Fabrinet in a research note on Tuesday, February 4th. One research 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. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $243.29.

Fabrinet Price Performance

Shares of NYSE:FN opened at $223.29 on Tuesday. Fabrinet has a 1 year low of $159.69 and a 1 year high of $281.79. The company has a market cap of $8.10 billion, a PE ratio of 24.98 and a beta of 0.92. The stock’s 50-day moving average is $227.23 and its 200 day moving average is $233.57.

Fabrinet (NYSE:FN) last announced its quarterly earnings results on Monday, February 3rd. The technology company reported $2.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.48 by ($0.10). Fabrinet had a net margin of 10.44% and a return on equity of 18.48%. Analysts expect that Fabrinet will post 9.4 EPS for the current fiscal 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.