Hennion & Walsh Asset Management Inc. Has $1.46 Million Position in Fabrinet (NYSE:FN)

Hennion & Walsh Asset Management Inc. raised its holdings in Fabrinet (NYSE:FN - Free Report) by 18.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,658 shares of the technology company's stock after buying an additional 1,037 shares during the quarter. Hennion & Walsh Asset Management Inc.'s holdings in Fabrinet were worth $1,464,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Huntington National Bank lifted its holdings in shares of Fabrinet by 70.4% in the third quarter. Huntington National Bank now owns 138 shares of the technology company's stock worth $33,000 after buying an additional 57 shares in the last quarter. Kimelman & Baird LLC purchased a new stake in Fabrinet in the second quarter valued at approximately $49,000. NBC Securities Inc. raised its stake in shares of Fabrinet by 732.0% during the 3rd quarter. NBC Securities Inc. now owns 208 shares of the technology company's stock valued at $49,000 after buying an additional 183 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Fabrinet during the 3rd quarter valued at approximately $52,000. Finally, UMB Bank n.a. grew its position in shares of Fabrinet by 252.9% during the 3rd quarter. UMB Bank n.a. now owns 240 shares of the technology company's stock valued at $57,000 after acquiring an additional 172 shares during the period. 97.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on FN shares. Barclays began coverage on shares of Fabrinet in a research note on Thursday, November 14th. They issued an "equal weight" rating and a $292.00 price target on the stock. B. Riley lowered Fabrinet from a "neutral" rating to a "sell" rating and lowered their price target for the stock from $194.00 to $178.00 in a research report on Wednesday, November 20th. Finally, Needham & Company LLC initiated coverage on Fabrinet in a research report on Tuesday, November 5th. They set a "buy" rating and a $280.00 price objective on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, Fabrinet currently has an average rating of "Hold" and an average price target of $252.14.

Fabrinet Price Performance

NYSE:FN traded up $7.04 during mid-day trading on Friday, reaching $242.13. The stock had a trading volume of 400,239 shares, compared to its average volume of 352,468. The stock's 50 day simple moving average is $233.12 and its two-hundred day simple moving average is $235.46. Fabrinet has a 1-year low of $159.69 and a 1-year high of $278.38. The company has a market capitalization of $8.78 billion, a price-to-earnings ratio of 28.65 and a beta of 0.93.

Fabrinet (NYSE:FN - Get Free Report) last posted its quarterly earnings data on Monday, November 4th. The technology company reported $2.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.38 by $0.01. The business had revenue of $804.20 million during the quarter, compared to analysts' expectations of $771.24 million. Fabrinet had a net margin of 10.28% and a return on equity of 18.08%. The business's revenue was up 17.3% on a year-over-year basis. During the same period last year, the firm posted $1.78 earnings per share. Sell-side analysts anticipate that Fabrinet will post 9.1 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.