Kestra Investment Management LLC Purchases New Position in Fabrinet (NYSE:FN)

Kestra Investment Management LLC purchased a new position in Fabrinet (NYSE:FN - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,097 shares of the technology company's stock, valued at approximately $241,000.

Several other institutional investors have also recently made changes to their positions in the company. Wellington Management Group LLP increased its holdings in shares of Fabrinet by 1.7% in the third quarter. Wellington Management Group LLP now owns 1,169,162 shares of the technology company's stock worth $276,437,000 after purchasing an additional 19,677 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Fabrinet by 7.6% during the third quarter. Geode Capital Management LLC now owns 986,813 shares of the technology company's stock worth $233,359,000 after purchasing an additional 69,554 shares during the period. Whale Rock Capital Management LLC boosted its holdings in shares of Fabrinet by 25.8% during the third quarter. Whale Rock Capital Management LLC now owns 855,767 shares of the technology company's stock worth $202,338,000 after purchasing an additional 175,684 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Fabrinet by 3.8% during the third quarter. JPMorgan Chase & Co. now owns 660,401 shares of the technology company's stock worth $156,145,000 after purchasing an additional 24,439 shares during the period. Finally, Baillie Gifford & Co. boosted its holdings in shares of Fabrinet by 10.7% during the fourth quarter. Baillie Gifford & Co. now owns 553,038 shares of the technology company's stock worth $121,602,000 after purchasing an additional 53,250 shares during the period. Institutional investors own 97.38% of the company's stock.

Analysts Set New Price Targets

FN has been the subject of a number of analyst reports. Fox Advisors initiated coverage on shares of Fabrinet in a report on Tuesday. They set an "overweight" rating and a $270.00 target price for the company. Needham & Company LLC reiterated a "buy" rating and set a $280.00 target price on shares of Fabrinet in a report on Tuesday, February 4th. JPMorgan Chase & Co. dropped their target price on shares of Fabrinet from $275.00 to $265.00 and set a "neutral" rating for the company in a report on Tuesday, February 4th. B. Riley lowered shares of Fabrinet from a "neutral" rating to a "sell" rating and dropped their target price for the stock from $194.00 to $178.00 in a report on Wednesday, November 20th. Finally, Barclays decreased their price target 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 equities 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. Based on data from MarketBeat, Fabrinet has a consensus rating of "Hold" and a consensus price target of $246.63.

Fabrinet Stock Down 4.0 %

Shares of NYSE FN traded down $9.27 on Friday, reaching $221.41. 304,556 shares of the company's stock traded hands, compared to its average volume of 711,336. Fabrinet has a 12 month low of $159.69 and a 12 month high of $281.79. The business's 50 day simple moving average is $226.73 and its two-hundred day simple moving average is $233.90. The company has a market cap of $8.03 billion, a price-to-earnings ratio of 24.74 and a beta of 0.92.

Fabrinet (NYSE:FN - Get Free Report) last announced its earnings results on Monday, February 3rd. The technology company reported $2.38 earnings per share 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%. Analysts forecast that Fabrinet will post 9.4 earnings per share 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.