Montanaro Asset Management Ltd Sells 7,230 Shares of Fabrinet (NYSE:FN)

Montanaro Asset Management Ltd cut its position in Fabrinet (NYSE:FN - Free Report) by 17.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 34,020 shares of the technology company's stock after selling 7,230 shares during the quarter. Montanaro Asset Management Ltd owned about 0.09% of Fabrinet worth $7,480,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. acquired a new position in Fabrinet in the 3rd quarter valued at $52,000. Public Employees Retirement System of Ohio bought a new stake in Fabrinet during the third quarter worth $61,000. IFP Advisors Inc boosted its holdings 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 purchasing an additional 242 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Fabrinet in the third quarter valued at about $70,000. Finally, Assetmark Inc. grew its holdings in shares of Fabrinet by 12.0% during the 4th quarter. Assetmark Inc. now owns 484 shares of the technology company's stock valued at $106,000 after purchasing an additional 52 shares during the last quarter. 97.38% of the stock is owned by institutional investors.

Fabrinet Stock Up 0.0 %

FN traded up $0.02 during trading on Monday, hitting $196.16. 242,253 shares of the company's stock were exchanged, compared to its average volume of 767,255. Fabrinet has a fifty-two week low of $159.69 and a fifty-two week high of $281.79. The stock has a market cap of $7.11 billion, a P/E ratio of 21.94 and a beta of 0.89. The business's 50 day moving average is $216.64 and its two-hundred day moving average is $230.31.

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 net margin of 10.44% and a return on equity of 18.48%. On average, sell-side analysts forecast that Fabrinet will post 9.4 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages recently weighed in on FN. Rosenblatt Securities restated a "buy" rating and set a $285.00 price objective on shares of Fabrinet in a research report on Friday, March 14th. JPMorgan Chase & Co. decreased their price objective on Fabrinet from $275.00 to $265.00 and set a "neutral" rating for the company in a report on Tuesday, February 4th. Barclays cut their target price on Fabrinet from $292.00 to $245.00 and set an "equal weight" rating on the stock in a report on Tuesday, February 4th. Needham & Company LLC restated a "buy" rating and set a $280.00 price objective on shares of Fabrinet in a research report on Monday, March 17th. Finally, Fox Advisors started coverage on shares of Fabrinet in a research note on Tuesday, February 18th. They issued an "overweight" rating and a $270.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Fabrinet currently has a consensus rating of "Hold" and a consensus target price of $250.43.

About Fabrinet

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.