State of Tennessee Department of Treasury Has $3.64 Million Holdings in Fabrinet (NYSE:FN)

State of Tennessee Department of Treasury decreased its stake in Fabrinet (NYSE:FN - Free Report) by 24.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,534 shares of the technology company's stock after selling 5,298 shares during the quarter. State of Tennessee Department of Treasury's holdings in Fabrinet were worth $3,635,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Huntington National Bank grew its position in Fabrinet by 66.7% in the 4th quarter. Huntington National Bank now owns 230 shares of the technology company's stock worth $51,000 after purchasing an additional 92 shares during the last quarter. IFP Advisors Inc grew its position in Fabrinet by 576.2% in the 4th 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 last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Fabrinet in the 3rd quarter worth $70,000. Assetmark Inc. lifted its holdings in shares of Fabrinet by 12.0% during the 4th quarter. Assetmark Inc. now owns 484 shares of the technology company's stock worth $106,000 after acquiring an additional 52 shares during the period. Finally, Transamerica Financial Advisors Inc. increased its stake in Fabrinet by 17.2% in the fourth quarter. Transamerica Financial Advisors Inc. now owns 565 shares of the technology company's stock valued at $125,000 after acquiring an additional 83 shares during the period. Hedge funds and other institutional investors own 97.38% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on FN. JPMorgan Chase & Co. lowered their price objective on Fabrinet from $265.00 to $220.00 and set a "neutral" rating on the stock in a research note on Thursday, April 17th. Rosenblatt Securities lowered their price objective on Fabrinet from $280.00 to $230.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Fox Advisors began coverage on Fabrinet in a research note on Tuesday, February 18th. They issued an "overweight" rating and a $270.00 price objective on the stock. Needham & Company LLC reiterated a "buy" rating and issued a $280.00 price objective on shares of Fabrinet in a research note on Monday, March 17th. Finally, Barclays decreased their price target on Fabrinet from $292.00 to $245.00 and set an "equal weight" rating on the stock in a research report on Tuesday, February 4th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $235.86.

Fabrinet Price Performance

Shares of FN stock traded up $5.87 during trading hours on Thursday, reaching $210.93. The company had a trading volume of 476,771 shares, compared to its average volume of 811,424. The company has a 50 day moving average of $198.47 and a 200 day moving average of $222.26. The firm has a market cap of $7.56 billion, a price-to-earnings ratio of 23.59 and a beta of 0.97. Fabrinet has a 1-year low of $148.55 and a 1-year high of $281.79.

Fabrinet (NYSE:FN - Get Free Report) last issued its quarterly earnings data on Monday, February 3rd. The technology company reported $2.38 EPS for the quarter, missing the consensus estimate of $2.48 by ($0.10). Fabrinet had a return on equity of 18.48% and a net margin of 10.44%. As a group, sell-side analysts forecast 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.