Guggenheim Capital LLC Sells 1,482 Shares of Fabrinet (NYSE:FN)

Guggenheim Capital LLC decreased its holdings in shares of Fabrinet (NYSE:FN - Free Report) by 44.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,829 shares of the technology company's stock after selling 1,482 shares during the period. Guggenheim Capital LLC's holdings in Fabrinet were worth $402,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Huntington National Bank boosted its position in shares of Fabrinet by 66.7% in the fourth 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 period. IFP Advisors Inc boosted its holdings 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 buying an additional 242 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in Fabrinet in the 3rd quarter worth $70,000. Assetmark Inc. raised its holdings in Fabrinet by 12.0% during the fourth quarter. Assetmark Inc. now owns 484 shares of the technology company's stock valued at $106,000 after acquiring an additional 52 shares during the period. Finally, Transamerica Financial Advisors Inc. raised its holdings in Fabrinet by 17.2% during 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. 97.38% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Needham & Company LLC reissued a "buy" rating and set a $280.00 target price on shares of Fabrinet in a research note on Monday, March 17th. Barclays lowered their target price on shares of Fabrinet from $292.00 to $245.00 and set an "equal weight" rating on the stock in a report on Tuesday, February 4th. Fox Advisors began coverage on shares of Fabrinet in a research note on Tuesday, February 18th. They set an "overweight" rating and a $270.00 target price for the company. B. Riley upgraded shares of Fabrinet from a "sell" rating to a "neutral" rating and decreased their price target for the stock from $178.00 to $176.00 in a research note on Friday, April 4th. Finally, Rosenblatt Securities dropped their price objective on shares of Fabrinet from $280.00 to $230.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $235.86.

Fabrinet Stock Performance

FN stock traded up $8.31 during trading on Thursday, hitting $213.37. 265,381 shares of the company's stock traded hands, compared to its average volume of 612,417. Fabrinet has a 52 week low of $148.55 and a 52 week high of $281.79. The stock has a market capitalization of $7.65 billion, a price-to-earnings ratio of 23.88 and a beta of 0.97. The business has a fifty day simple moving average of $198.47 and a 200 day simple moving average of $222.26.

Fabrinet (NYSE:FN - Get Free Report) last released its quarterly earnings results 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%. Research analysts forecast that Fabrinet will post 9.4 earnings per share 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.