Legal & General Group Plc lowered its stake in shares of Fabrinet (NYSE:FN - Free Report) by 2.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 63,160 shares of the technology company's stock after selling 1,915 shares during the quarter. Legal & General Group Plc owned about 0.17% of Fabrinet worth $13,888,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. Huntington National Bank increased its stake in Fabrinet by 66.7% during the fourth quarter. Huntington National Bank now owns 230 shares of the technology company's stock valued at $51,000 after acquiring an additional 92 shares during the period. Public Employees Retirement System of Ohio acquired a new position in shares of Fabrinet in the 3rd quarter worth approximately $61,000. IFP Advisors Inc increased its stake in shares of 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 acquiring an additional 242 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in Fabrinet during the 3rd quarter worth approximately $70,000. Finally, Assetmark Inc. boosted 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 purchasing an additional 52 shares in the last quarter. 97.38% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
FN has been the subject of a number of research analyst reports. JPMorgan Chase & Co. decreased their target price on Fabrinet from $265.00 to $220.00 and set a "neutral" rating for the company in a research note on Thursday. Barclays decreased their price objective on Fabrinet from $292.00 to $245.00 and set an "equal weight" rating for the company in a report on Tuesday, February 4th. Rosenblatt Securities restated a "buy" rating and set a $285.00 target price on shares of Fabrinet in a report on Friday, March 14th. B. Riley upgraded Fabrinet from a "sell" rating to a "neutral" rating and dropped their target price for the stock from $178.00 to $176.00 in a report on Friday, April 4th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $280.00 price objective on shares of Fabrinet in a research report on Monday, March 17th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, Fabrinet presently has an average rating of "Hold" and an average price target of $243.71.
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Fabrinet Trading Down 1.6 %
FN stock traded down $3.08 during trading hours on Friday, hitting $183.63. 425,242 shares of the stock were exchanged, compared to its average volume of 605,850. Fabrinet has a 12 month low of $148.55 and a 12 month high of $281.79. The firm has a market capitalization of $6.58 billion, a P/E ratio of 20.54 and a beta of 0.97. The company has a 50-day simple moving average of $203.97 and a two-hundred day simple moving average of $225.44.
Fabrinet (NYSE:FN - Get Free Report) last issued its quarterly earnings data on Monday, February 3rd. The technology company reported $2.38 earnings per share 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%. On average, equities research analysts predict that Fabrinet will post 9.4 earnings per share for the current year.
About Fabrinet
(
Free Report)
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.
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