Premier Fund Managers Ltd Sells 3,050 Shares of Fabrinet (NYSE:FN)

Premier Fund Managers Ltd reduced its holdings in shares of Fabrinet (NYSE:FN - Free Report) by 12.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,750 shares of the technology company's stock after selling 3,050 shares during the quarter. Premier Fund Managers Ltd owned about 0.06% of Fabrinet worth $4,671,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of FN. Point72 Asia Singapore Pte. Ltd. bought a new stake in Fabrinet during the 3rd quarter worth approximately $52,000. Public Employees Retirement System of Ohio purchased a new position in shares of Fabrinet during the 3rd quarter valued at about $61,000. IFP Advisors Inc grew its holdings in shares of Fabrinet by 576.2% during 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 last quarter. Wilmington Savings Fund Society FSB purchased a new position in Fabrinet in the 3rd quarter worth $70,000. Finally, Transamerica Financial Advisors Inc. bought a new stake in Fabrinet in the third quarter worth $114,000. 97.38% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Barclays lowered their target price on Fabrinet from $292.00 to $245.00 and set an "equal weight" rating for the company in a research note on Tuesday, February 4th. JPMorgan Chase & Co. dropped their price target on shares of Fabrinet from $275.00 to $265.00 and set a "neutral" rating for the company in a research report on Tuesday, February 4th. Fox Advisors assumed coverage on shares of Fabrinet in a research note on Tuesday, February 18th. They set an "overweight" rating and a $270.00 price objective for the company. Needham & Company LLC reiterated a "buy" rating and issued a $280.00 price objective on shares of Fabrinet in a research report on Monday, March 17th. Finally, Rosenblatt Securities reaffirmed a "buy" rating and set a $285.00 price objective on shares of Fabrinet in a research report on Friday, March 14th. One analyst has rated the stock with a sell rating, three have given 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.

Fabrinet Stock Down 0.3 %

Shares of NYSE FN traded down $0.63 during midday trading on Tuesday, hitting $196.88. The stock had a trading volume of 270,915 shares, compared to its average volume of 571,829. Fabrinet has a 52 week low of $159.69 and a 52 week high of $281.79. The business's 50 day moving average is $215.76 and its 200-day moving average is $230.14. The company has a market cap of $7.14 billion, a P/E ratio of 22.01 and a beta of 0.89.

Fabrinet (NYSE:FN - Get Free Report) last announced 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, analysts expect that Fabrinet will post 9.4 EPS for the current fiscal year.

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.