Sei Investments Co. Has $21.82 Million Stake in Fabrinet (NYSE:FN)

Sei Investments Co. grew its stake in shares of Fabrinet (NYSE:FN) by 26.0% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 99,245 shares of the technology company’s stock after buying an additional 20,462 shares during the period. Sei Investments Co.’s holdings in Fabrinet were worth $21,822,000 as of its most recent filing with the SEC.

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

Fabrinet Price Performance

FN stock opened at $208.94 on Thursday. The stock has a market capitalization of $7.58 billion, a price-to-earnings ratio of 23.37 and a beta of 0.89. The business has a fifty day moving average price of $218.14 and a 200 day moving average price of $230.31. Fabrinet has a fifty-two week low of $159.69 and a fifty-two week high of $281.79.

Fabrinet (NYSE:FN) last released 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%. On average, equities analysts expect that Fabrinet will post 9.4 earnings per share for the current fiscal year.

Analysts Set New Price Targets

FN has been the subject of a number of recent research reports. Barclays dropped their price objective on shares of 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 restated a “buy” rating and set a $285.00 price target on shares of Fabrinet in a research note on Friday, March 14th. JPMorgan Chase & Co. lowered their price objective on Fabrinet from $275.00 to $265.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 4th. Needham & Company LLC restated a “buy” rating and set a $280.00 target price on shares of Fabrinet in a research report on Monday, March 17th. Finally, Fox Advisors started coverage on Fabrinet in a research report on Tuesday, February 18th. They issued an “overweight” rating and a $270.00 price target on the stock. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Fabrinet has an average rating of “Hold” and an average price target of $250.43.

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.