Alliancebernstein L.P. Sells 217,614 Shares of Fabrinet (NYSE:FN)

Alliancebernstein L.P. lowered its stake in Fabrinet (NYSE:FN - Free Report) by 22.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 766,847 shares of the technology company's stock after selling 217,614 shares during the quarter. Alliancebernstein L.P. owned approximately 2.11% of Fabrinet worth $168,614,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Barclays PLC boosted its stake in Fabrinet by 304.6% during the third quarter. Barclays PLC now owns 69,128 shares of the technology company's stock valued at $16,345,000 after buying an additional 52,042 shares during the period. Salem Investment Counselors Inc. purchased a new position in shares of Fabrinet during the fourth quarter worth about $518,000. Janney Montgomery Scott LLC raised its stake in Fabrinet by 2.6% in the fourth quarter. Janney Montgomery Scott LLC now owns 3,279 shares of the technology company's stock valued at $721,000 after purchasing an additional 82 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Fabrinet by 3.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 660,401 shares of the technology company's stock worth $156,145,000 after buying an additional 24,439 shares in the last quarter. Finally, Harbor Capital Advisors Inc. increased its holdings in shares of Fabrinet by 33.2% in the 4th quarter. Harbor Capital Advisors Inc. now owns 13,901 shares of the technology company's stock worth $3,057,000 after buying an additional 3,468 shares during the last quarter. Hedge funds and other institutional investors own 97.38% of the company's stock.

Fabrinet Stock Down 0.8 %

Shares of Fabrinet stock traded down $1.45 on Friday, hitting $171.11. The stock had a trading volume of 2,458,550 shares, compared to its average volume of 587,642. Fabrinet has a one year low of $148.55 and a one year high of $281.79. The stock's 50-day simple moving average is $209.73 and its two-hundred day simple moving average is $228.93. The stock has a market cap of $6.21 billion, a price-to-earnings ratio of 19.14 and a beta of 0.97.

Fabrinet (NYSE:FN - Get Free Report) last released its quarterly earnings data on Monday, February 3rd. The technology company reported $2.38 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.48 by ($0.10). Fabrinet had a net margin of 10.44% and a return on equity of 18.48%. As a group, equities analysts predict that Fabrinet will post 9.4 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on FN. Rosenblatt Securities reiterated a "buy" rating and issued a $285.00 target price on shares of Fabrinet in a research report on Friday, March 14th. B. Riley upgraded Fabrinet from a "sell" rating to a "neutral" rating and reduced their price objective for the company from $178.00 to $176.00 in a research report on Friday. Fox Advisors initiated coverage on Fabrinet in a research report on Tuesday, February 18th. They issued an "overweight" rating and a $270.00 target price for the company. JPMorgan Chase & Co. cut their target price on Fabrinet from $275.00 to $265.00 and set a "neutral" rating for the company in a research note on Tuesday, February 4th. Finally, Barclays decreased their price target on shares of Fabrinet from $292.00 to $245.00 and set an "equal weight" rating on the stock in a research note on Tuesday, February 4th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $250.14.

Fabrinet 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.