Franklin Resources Inc. Has $31.63 Million Stock Holdings in Fabrinet (NYSE:FN)

Franklin Resources Inc. grew its position in Fabrinet (NYSE:FN) by 41.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 133,791 shares of the technology company’s stock after purchasing an additional 39,076 shares during the quarter. Franklin Resources Inc. owned approximately 0.37% of Fabrinet worth $31,634,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of FN. Atria Wealth Solutions Inc. lifted its position in shares of Fabrinet by 84.8% during the 2nd quarter. Atria Wealth Solutions Inc. now owns 4,503 shares of the technology company’s stock worth $1,102,000 after purchasing an additional 2,066 shares during the last quarter. Fifth Third Wealth Advisors LLC acquired a new position in shares of Fabrinet during the second quarter worth approximately $305,000. Louisiana State Employees Retirement System boosted its position in shares of Fabrinet by 1.1% in the second quarter. Louisiana State Employees Retirement System now owns 18,200 shares of the technology company’s stock valued at $4,455,000 after acquiring an additional 200 shares during the period. New York State Teachers Retirement System boosted its position in shares of Fabrinet by 2.0% in the second quarter. New York State Teachers Retirement System now owns 30,550 shares of the technology company’s stock valued at $7,478,000 after acquiring an additional 600 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in shares of Fabrinet by 4.1% in the second quarter. Bank of New York Mellon Corp now owns 314,665 shares of the technology company’s stock worth $77,027,000 after acquiring an additional 12,409 shares during the last quarter. 97.38% of the stock is currently owned by institutional investors and hedge funds.

Fabrinet Stock Performance

Shares of Fabrinet stock opened at $231.63 on Thursday. Fabrinet has a twelve month low of $159.69 and a twelve month high of $278.38. The firm has a market cap of $8.40 billion, a P/E ratio of 27.41 and a beta of 0.92. The firm’s 50-day simple moving average is $244.22 and its 200-day simple moving average is $237.98.

Fabrinet (NYSE:FN) last released its quarterly earnings data on Monday, November 4th. The technology company reported $2.39 earnings per share for the quarter, beating the consensus estimate of $2.38 by $0.01. The company had revenue of $804.20 million for the quarter, compared to analyst estimates of $771.24 million. Fabrinet had a return on equity of 18.08% and a net margin of 10.28%. The company’s revenue was up 17.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.78 EPS. On average, equities analysts forecast that Fabrinet will post 9.1 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

FN has been the subject of a number of research reports. Barclays began coverage on shares of Fabrinet in a report on Thursday, November 14th. They issued an “equal weight” rating and a $292.00 price target for the company. B. Riley downgraded 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 research report on Wednesday, November 20th. Finally, Needham & Company LLC initiated coverage on Fabrinet in a research note on Tuesday, November 5th. They set a “buy” rating and a $280.00 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 assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $252.14.

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.