Fabrinet (NYSE:FN) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky trimmed its holdings in shares of Fabrinet (NYSE:FN - Free Report) by 22.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,219 shares of the technology company's stock after selling 5,369 shares during the period. Teachers Retirement System of The State of Kentucky owned about 0.05% of Fabrinet worth $4,006,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Huntington National Bank boosted its position in Fabrinet by 66.7% during the 4th 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 position in shares of Fabrinet by 576.2% in the fourth 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 acquired a new stake in shares of Fabrinet in the third quarter valued at about $70,000. Assetmark Inc. raised its holdings in shares of Fabrinet by 12.0% during the 4th quarter. Assetmark Inc. now owns 484 shares of the technology company's stock valued at $106,000 after buying an additional 52 shares during the period. Finally, Transamerica Financial Advisors Inc. lifted its position in Fabrinet by 17.2% during the 4th quarter. Transamerica Financial Advisors Inc. now owns 565 shares of the technology company's stock worth $125,000 after acquiring an additional 83 shares in the last quarter. 97.38% of the stock is currently owned by hedge funds and other institutional investors.

Fabrinet Trading Up 2.8 %

Shares of NYSE FN opened at $177.37 on Wednesday. Fabrinet has a twelve month low of $148.55 and a twelve month high of $281.79. The firm has a 50-day moving average of $202.00 and a two-hundred day moving average of $224.18. The company has a market capitalization of $6.36 billion, a price-to-earnings ratio of 19.84 and a beta of 0.97.

Fabrinet (NYSE:FN - Get Free Report) last released its 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 net margin of 10.44% and a return on equity of 18.48%. As a group, research analysts predict that Fabrinet will post 9.4 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Barclays dropped their price objective 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. Needham & Company LLC reaffirmed a "buy" rating and set a $280.00 price target on shares of Fabrinet in a research note on Monday, March 17th. Rosenblatt Securities decreased their price objective on shares of Fabrinet from $280.00 to $230.00 and set a "buy" rating for the company in a research report on Tuesday. JPMorgan Chase & Co. dropped their target price on Fabrinet from $265.00 to $220.00 and set a "neutral" rating on the stock in a research report on Thursday, April 17th. Finally, B. Riley upgraded Fabrinet from a "sell" rating to a "neutral" rating and lowered their price objective for the company from $178.00 to $176.00 in a research note on Friday, April 4th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $235.86.

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.

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