Kennedy Capital Management LLC Lowers Position in Fabrinet (NYSE:FN)

Kennedy Capital Management LLC trimmed its holdings in Fabrinet (NYSE:FN - Free Report) by 25.4% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 35,793 shares of the technology company's stock after selling 12,175 shares during the period. Kennedy Capital Management LLC owned approximately 0.10% of Fabrinet worth $7,870,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Huntington National Bank grew its position in Fabrinet by 66.7% in the 4th quarter. Huntington National Bank now owns 230 shares of the technology company's stock valued at $51,000 after acquiring an additional 92 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in Fabrinet during the 3rd quarter worth approximately $61,000. IFP Advisors Inc boosted its position in Fabrinet by 576.2% in the 4th quarter. IFP Advisors Inc now owns 284 shares of the technology company's stock valued at $63,000 after buying an additional 242 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in shares of Fabrinet in the third quarter worth $70,000. Finally, Assetmark Inc. increased its position in shares of Fabrinet by 12.0% during the fourth quarter. Assetmark Inc. now owns 484 shares of the technology company's stock worth $106,000 after acquiring an additional 52 shares during the period. Hedge funds and other institutional investors own 97.38% of the company's stock.

Fabrinet Price Performance

Shares of FN stock traded down $2.13 during trading hours on Tuesday, hitting $188.06. The stock had a trading volume of 496,904 shares, compared to its average volume of 602,073. The stock's 50 day moving average is $205.69 and its 200 day moving average is $226.34. The firm has a market capitalization of $6.82 billion, a PE ratio of 21.04 and a beta of 0.97. Fabrinet has a twelve month low of $148.55 and a twelve month high of $281.79.

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Fabrinet (NYSE:FN - Get Free Report) last posted its quarterly earnings data on Monday, February 3rd. The technology company reported $2.38 EPS for the quarter, missing analysts' consensus estimates 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, equities analysts predict that Fabrinet will post 9.4 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on FN shares. 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. B. Riley upgraded shares of Fabrinet from a "sell" rating to a "neutral" rating and lowered their price target for the stock from $178.00 to $176.00 in a report on Friday, April 4th. Needham & Company LLC reaffirmed a "buy" rating and set a $280.00 price objective on shares of Fabrinet in a research report on Monday, March 17th. Fox Advisors started coverage on Fabrinet in a research note on Tuesday, February 18th. They issued an "overweight" rating and a $270.00 price target on the stock. Finally, JPMorgan Chase & Co. lowered their price objective on Fabrinet from $275.00 to $265.00 and set a "neutral" rating for the company in a research report on Tuesday, February 4th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Fabrinet has an average rating of "Hold" and a consensus target price of $250.14.

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.