Illumine Investment Management LLC Acquires Shares of 3,386 Fabrinet (NYSE:FN)

Illumine Investment Management LLC purchased a new position in Fabrinet (NYSE:FN - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,386 shares of the technology company's stock, valued at approximately $745,000.

Several other institutional investors and hedge funds have also bought and sold shares of FN. Huntington National Bank boosted its position in shares of 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 buying an additional 57 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Fabrinet during the 3rd quarter valued at about $52,000. Public Employees Retirement System of Ohio bought a new stake in shares of Fabrinet in the third quarter worth approximately $61,000. IFP Advisors Inc raised its holdings in shares of Fabrinet by 576.2% during the fourth 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. Finally, Wilmington Savings Fund Society FSB bought a new position in Fabrinet during the third quarter valued at approximately $70,000. 97.38% of the stock is currently owned by hedge funds and other institutional investors.

Fabrinet Trading Down 0.1 %

Shares of NYSE FN traded down $0.20 during midday trading on Tuesday, reaching $190.18. The company had a trading volume of 591,508 shares, compared to its average volume of 710,615. The business's 50-day simple moving average is $223.28 and its 200 day simple moving average is $234.14. Fabrinet has a 1 year low of $159.69 and a 1 year high of $281.79. The stock has a market cap of $6.90 billion, a P/E ratio of 21.27 and a beta of 0.92.

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Fabrinet (NYSE:FN - Get Free Report) last posted its quarterly 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%. Analysts predict that Fabrinet will post 9.4 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Fox Advisors initiated coverage on Fabrinet in a research report on Tuesday, February 18th. They issued an "overweight" rating and a $270.00 target price on the stock. Barclays cut their target price on shares of Fabrinet from $292.00 to $245.00 and set an "equal weight" rating for the company in a research report on Tuesday, February 4th. B. Riley cut shares of Fabrinet from a "neutral" rating to a "sell" rating and reduced their target price for the company from $194.00 to $178.00 in a report on Wednesday, November 20th. Needham & Company LLC reiterated a "buy" rating and set a $280.00 price target on shares of Fabrinet in a research note on Tuesday, February 4th. Finally, JPMorgan Chase & Co. reduced their price objective on Fabrinet from $275.00 to $265.00 and set a "neutral" rating for the company in a research note on Tuesday, February 4th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Fabrinet has a consensus rating of "Hold" and a consensus price target of $246.63.

Fabrinet Company 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.