Level Four Advisory Services LLC Acquires 2,053 Shares of Fabrinet (NYSE:FN)

Level Four Advisory Services LLC boosted its position in shares of Fabrinet (NYSE:FN - Free Report) by 33.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,209 shares of the technology company's stock after buying an additional 2,053 shares during the quarter. Level Four Advisory Services LLC's holdings in Fabrinet were worth $1,805,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of FN. Point72 Asia Singapore Pte. Ltd. acquired a new position in Fabrinet in the third quarter valued at approximately $52,000. Public Employees Retirement System of Ohio bought a new stake in shares of Fabrinet during the 3rd quarter valued at $61,000. IFP Advisors Inc lifted its stake in shares of Fabrinet by 576.2% in the 4th quarter. IFP Advisors Inc now owns 284 shares of the technology company's stock valued at $63,000 after purchasing an additional 242 shares during the period. Wilmington Savings Fund Society FSB bought a new position in shares of Fabrinet in the 3rd quarter worth $70,000. Finally, Assetmark Inc. grew its stake in shares of 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. 97.38% of the stock is currently owned by institutional investors.

Fabrinet Price Performance

FN traded down $0.83 during trading on Tuesday, reaching $196.68. The company had a trading volume of 735,990 shares, compared to its average volume of 573,596. The company has a market cap of $7.13 billion, a P/E ratio of 22.00 and a beta of 0.89. Fabrinet has a 12 month low of $159.69 and a 12 month high of $281.79. The business's fifty day moving average price is $215.76 and its 200 day moving average price is $230.14.

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Fabrinet (NYSE:FN - Get Free Report) last posted 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 net margin of 10.44% and a return on equity of 18.48%. As a group, sell-side analysts predict that Fabrinet will post 9.4 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on FN shares. Rosenblatt Securities reissued a "buy" rating and issued a $285.00 target price on shares of Fabrinet in a research note on Friday, March 14th. JPMorgan Chase & Co. reduced their price objective on shares of Fabrinet from $275.00 to $265.00 and set a "neutral" rating on the stock in a research note on Tuesday, February 4th. Fox Advisors assumed coverage on shares of Fabrinet in a report on Tuesday, February 18th. They set an "overweight" rating and a $270.00 price objective for the company. Barclays cut 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. Finally, Needham & Company LLC reissued a "buy" rating and issued a $280.00 price target on shares of Fabrinet in a report on Monday, March 17th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Fabrinet has a consensus rating of "Hold" and an average target price of $250.43.

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.