Great Lakes Advisors LLC Sells 1,968 Shares of Fabrinet (NYSE:FN)

Great Lakes Advisors LLC lowered its position in shares of Fabrinet (NYSE:FN - Free Report) by 23.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,558 shares of the technology company's stock after selling 1,968 shares during the period. Great Lakes Advisors LLC's holdings in Fabrinet were worth $1,442,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Cynosure Group LLC lifted its position in Fabrinet by 3.4% during the third quarter. Cynosure Group LLC now owns 1,560 shares of the technology company's stock valued at $369,000 after purchasing an additional 51 shares during the last quarter. Assetmark Inc. lifted its position in Fabrinet by 12.0% during the fourth quarter. Assetmark Inc. now owns 484 shares of the technology company's stock valued at $106,000 after purchasing an additional 52 shares during the last quarter. Huntington National Bank lifted its position in Fabrinet by 70.4% during the third quarter. Huntington National Bank now owns 138 shares of the technology company's stock valued at $33,000 after purchasing an additional 57 shares during the last quarter. CIBC Asset Management Inc lifted its position in Fabrinet by 5.7% during the fourth quarter. CIBC Asset Management Inc now owns 1,113 shares of the technology company's stock valued at $245,000 after purchasing an additional 60 shares during the last quarter. Finally, Nations Financial Group Inc. IA ADV lifted its position in Fabrinet by 2.4% during the fourth quarter. Nations Financial Group Inc. IA ADV now owns 2,941 shares of the technology company's stock valued at $647,000 after purchasing an additional 68 shares during the last quarter. Hedge funds and other institutional investors own 97.38% of the company's stock.

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Fabrinet Price Performance

FN traded up $2.21 during trading on Wednesday, hitting $225.07. 605,123 shares of the stock traded hands, compared to its average volume of 548,009. The firm has a market capitalization of $8.16 billion, a P/E ratio of 25.18 and a beta of 0.89. The firm has a 50-day moving average of $219.08 and a 200 day moving average of $230.48. Fabrinet has a 12-month low of $159.69 and a 12-month high of $281.79.

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

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on FN. JPMorgan Chase & Co. cut their price objective on shares of Fabrinet from $275.00 to $265.00 and set a "neutral" rating for the company in a research note on Tuesday, February 4th. Fox Advisors began coverage on shares of Fabrinet in a research note on Tuesday, February 18th. They issued an "overweight" rating and a $270.00 price objective for the company. Rosenblatt Securities reaffirmed a "buy" rating and issued a $285.00 price objective on shares of Fabrinet in a research note on Friday, March 14th. B. Riley cut shares of Fabrinet from a "neutral" rating to a "sell" rating and cut their price objective for the company from $194.00 to $178.00 in a research note on Wednesday, November 20th. Finally, Barclays cut their price objective on shares of Fabrinet from $292.00 to $245.00 and set an "equal weight" rating for the company in a research note on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $246.63.

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.