G2 Investment Partners Management LLC Lowers Position in Fabrinet (NYSE:FN)

G2 Investment Partners Management LLC trimmed its stake in Fabrinet (NYSE:FN - Free Report) by 29.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,770 shares of the technology company's stock after selling 10,281 shares during the quarter. G2 Investment Partners Management LLC owned 0.07% of Fabrinet worth $5,446,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Assetmark Inc. boosted its position in Fabrinet by 12.0% during the fourth quarter. Assetmark Inc. now owns 484 shares of the technology company's stock worth $106,000 after purchasing an additional 52 shares during the period. CIBC Asset Management Inc boosted its holdings in shares of Fabrinet by 5.7% during the 4th quarter. CIBC Asset Management Inc now owns 1,113 shares of the technology company's stock worth $245,000 after buying an additional 60 shares during the period. Nations Financial Group Inc. IA ADV grew its stake in Fabrinet by 2.4% in the 4th 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 last quarter. Janney Montgomery Scott LLC raised its holdings in Fabrinet by 2.6% in the 4th quarter. Janney Montgomery Scott LLC now owns 3,279 shares of the technology company's stock worth $721,000 after acquiring an additional 82 shares during the period. Finally, Transamerica Financial Advisors Inc. lifted its position in Fabrinet by 17.2% during the 4th quarter. Transamerica Financial Advisors Inc. now owns 565 shares of the technology company's stock worth $125,000 after acquiring an additional 83 shares during the last quarter. 97.38% of the stock is owned by institutional investors and hedge funds.

Fabrinet Trading Up 5.7%

Shares of FN traded up $12.20 on Tuesday, reaching $227.59. The company's stock had a trading volume of 739,562 shares, compared to its average volume of 620,573. The stock has a market capitalization of $8.15 billion, a PE ratio of 25.46 and a beta of 0.95. Fabrinet has a twelve month low of $148.55 and a twelve month high of $281.79. The firm has a fifty day moving average of $200.14 and a 200-day moving average of $219.51.

Fabrinet (NYSE:FN - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The technology company reported $2.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.47 by $0.05. The company had revenue of $871.80 million during the quarter, compared to analyst estimates of $857.12 million. Fabrinet had a net margin of 10.44% and a return on equity of 18.48%. Fabrinet's quarterly revenue was up 19.2% compared to the same quarter last year. During the same quarter last year, the business posted $2.39 EPS. As a group, equities analysts anticipate that Fabrinet will post 9.4 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently commented on FN. JPMorgan Chase & Co. raised their target price on Fabrinet from $220.00 to $235.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. Rosenblatt Securities boosted their price objective on shares of Fabrinet from $230.00 to $250.00 and gave the stock a "buy" rating in a research report on Tuesday, May 6th. Fox Advisors assumed coverage on shares of Fabrinet in a report on Tuesday, February 18th. They set an "overweight" rating and a $270.00 target price for the company. Needham & Company LLC reiterated a "buy" rating and issued a $280.00 target price on shares of Fabrinet in a report on Tuesday, May 6th. Finally, B. Riley raised Fabrinet from a "sell" rating to a "neutral" rating and dropped their price objective for the stock from $178.00 to $176.00 in a research note on Friday, April 4th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $239.29.

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.