Natixis Advisors LLC Has $12.81 Million Holdings in Fabrinet (NYSE:FN)

Natixis Advisors LLC cut its stake in Fabrinet (NYSE:FN - Free Report) by 14.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 58,251 shares of the technology company's stock after selling 9,885 shares during the period. Natixis Advisors LLC owned 0.16% of Fabrinet worth $12,808,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in FN. First Eagle Investment Management LLC increased its holdings in shares of Fabrinet by 24.8% during the fourth quarter. First Eagle Investment Management LLC now owns 60,040 shares of the technology company's stock valued at $13,202,000 after purchasing an additional 11,936 shares during the period. Commonwealth Equity Services LLC increased its holdings in shares of Fabrinet by 11.0% during the fourth quarter. Commonwealth Equity Services LLC now owns 3,940 shares of the technology company's stock valued at $866,000 after purchasing an additional 391 shares during the period. Bowen Hanes & Co. Inc. increased its holdings in shares of Fabrinet by 5.7% during the fourth quarter. Bowen Hanes & Co. Inc. now owns 148,000 shares of the technology company's stock valued at $32,542,000 after purchasing an additional 8,000 shares during the period. Erste Asset Management GmbH increased its holdings in shares of Fabrinet by 34.7% during the fourth quarter. Erste Asset Management GmbH now owns 28,785 shares of the technology company's stock valued at $6,272,000 after purchasing an additional 7,410 shares during the period. Finally, Swiss National Bank increased its holdings in shares of Fabrinet by 0.7% during the fourth quarter. Swiss National Bank now owns 71,040 shares of the technology company's stock valued at $15,620,000 after purchasing an additional 500 shares during the period. 97.38% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

A number of research analysts have recently commented on FN shares. Needham & Company LLC reissued a "buy" rating and set a $280.00 price target on shares of Fabrinet in a report on Monday, March 17th. Rosenblatt Securities reaffirmed a "buy" rating and set a $285.00 target price on shares of Fabrinet in a research note on Friday, March 14th. Fox Advisors started coverage on Fabrinet in a research note on Tuesday, February 18th. They set an "overweight" rating and a $270.00 target price for the company. Barclays decreased 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. Finally, JPMorgan Chase & Co. decreased their target price 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 issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $250.43.

Fabrinet Stock Performance

Shares of NYSE:FN traded down $1.50 during midday trading on Friday, reaching $220.57. The company had a trading volume of 650,850 shares, compared to its average volume of 546,283. Fabrinet has a 1-year low of $159.69 and a 1-year high of $281.79. The firm has a market cap of $8.00 billion, a price-to-earnings ratio of 24.67 and a beta of 0.89. The company has a fifty day simple moving average of $218.54 and a two-hundred day simple moving average of $230.29.

Fabrinet (NYSE:FN - Get Free Report) last released its quarterly 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 expect that Fabrinet will post 9.4 EPS for the current 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.