Boothbay Fund Management LLC lessened its holdings in shares of Fabrinet (NYSE:FN - Free Report) by 31.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,263 shares of the technology company's stock after selling 2,368 shares during the quarter. Boothbay Fund Management LLC's holdings in Fabrinet were worth $1,157,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of FN. Huntington National Bank grew its stake in Fabrinet by 66.7% in the 4th quarter. Huntington National Bank now owns 230 shares of the technology company's stock valued at $51,000 after buying an additional 92 shares during the last quarter. IFP Advisors Inc increased its stake in shares of Fabrinet by 576.2% during the fourth quarter. IFP Advisors Inc now owns 284 shares of the technology company's stock worth $63,000 after purchasing an additional 242 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in Fabrinet during the 3rd quarter worth approximately $70,000. Assetmark Inc. boosted its stake in Fabrinet by 12.0% in the 4th quarter. Assetmark Inc. now owns 484 shares of the technology company's stock valued at $106,000 after purchasing an additional 52 shares during the period. Finally, Transamerica Financial Advisors Inc. grew its holdings in Fabrinet by 17.2% in the 4th quarter. Transamerica Financial Advisors Inc. now owns 565 shares of the technology company's stock valued at $125,000 after buying an additional 83 shares in the last quarter. Institutional investors own 97.38% of the company's stock.
Analyst Ratings Changes
A number of equities research analysts have recently issued reports on the stock. Barclays reduced 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. Rosenblatt Securities dropped their price target on shares of Fabrinet from $280.00 to $230.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. JPMorgan Chase & Co. reduced their price target on Fabrinet from $265.00 to $220.00 and set a "neutral" rating on the stock in a research report on Thursday, April 17th. Fox Advisors assumed coverage on Fabrinet in a report on Tuesday, February 18th. They issued an "overweight" rating and a $270.00 price objective for the company. Finally, Needham & Company LLC restated a "buy" rating and issued a $280.00 price target on shares of Fabrinet in a research report on Monday, March 17th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $235.86.
Read Our Latest Analysis on Fabrinet
Fabrinet Stock Up 1.4 %
NYSE:FN opened at $203.32 on Tuesday. The firm has a market capitalization of $7.28 billion, a PE ratio of 22.74 and a beta of 0.97. Fabrinet has a twelve month low of $148.55 and a twelve month high of $281.79. The stock's 50-day simple moving average is $199.28 and its 200 day simple moving average is $222.48.
Fabrinet (NYSE:FN - Get Free Report) last announced its quarterly earnings results on Monday, February 3rd. The technology company reported $2.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.48 by ($0.10). Fabrinet had a net margin of 10.44% and a return on equity of 18.48%. On average, analysts anticipate that Fabrinet will post 9.4 EPS for the current fiscal year.
About Fabrinet
(
Free Report)
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.
Further Reading
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