Corebridge Financial Inc. cut its holdings in Fabrinet (NYSE:FN - Free Report) by 4.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 58,919 shares of the technology company's stock after selling 3,056 shares during the quarter. Corebridge Financial Inc. owned 0.16% of Fabrinet worth $12,955,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Pathstone Holdings LLC boosted its position in shares of Fabrinet by 40.7% during the third quarter. Pathstone Holdings LLC now owns 8,219 shares of the technology company's stock valued at $1,943,000 after buying an additional 2,378 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Fabrinet by 14.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 480,550 shares of the technology company's stock worth $113,621,000 after acquiring an additional 61,491 shares during the period. Citigroup Inc. boosted its position in Fabrinet by 13.9% in the third quarter. Citigroup Inc. now owns 38,115 shares of the technology company's stock worth $9,012,000 after purchasing an additional 4,639 shares during the last quarter. Cerity Partners LLC grew its stake in shares of Fabrinet by 41.4% during the 3rd quarter. Cerity Partners LLC now owns 2,144 shares of the technology company's stock valued at $507,000 after purchasing an additional 628 shares during the period. Finally, Pitcairn Co. purchased a new stake in shares of Fabrinet during the 3rd quarter valued at about $450,000. 97.38% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
FN has been the topic of a number of research reports. JPMorgan Chase & Co. dropped their price objective on shares of Fabrinet from $275.00 to $265.00 and set a "neutral" rating on the stock in a report on Tuesday, February 4th. Fox Advisors assumed coverage on Fabrinet in a research report on Tuesday, February 18th. They set an "overweight" rating and a $270.00 target price on the stock. Needham & Company LLC restated a "buy" rating and set a $280.00 target price on shares of Fabrinet in a research note on Monday, March 17th. Barclays dropped their price target 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. Finally, Rosenblatt Securities restated a "buy" rating and set a $285.00 target price on shares of Fabrinet in a research note on Friday, March 14th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, Fabrinet has an average rating of "Hold" and an average target price of $250.43.
Check Out Our Latest Stock Report on Fabrinet
Fabrinet Trading Down 5.3 %
FN traded down $11.02 during trading on Friday, hitting $195.58. 895,717 shares of the company traded hands, compared to its average volume of 570,520. The company has a market cap of $7.09 billion, a PE ratio of 21.88 and a beta of 0.89. The stock's 50-day simple moving average is $216.64 and its two-hundred day simple moving average is $230.05. Fabrinet has a 1 year low of $159.69 and a 1 year high of $281.79.
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 return on equity of 18.48% and a net margin of 10.44%. Equities analysts expect that Fabrinet will post 9.4 EPS for the current year.
Fabrinet Profile
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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.
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