Neuberger Berman Group LLC Has $32.06 Million Position in Fabrinet (NYSE:FN)

Neuberger Berman Group LLC cut its holdings in shares of Fabrinet (NYSE:FN - Free Report) by 2.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 146,045 shares of the technology company's stock after selling 3,412 shares during the period. Neuberger Berman Group LLC owned about 0.40% of Fabrinet worth $32,059,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Huntington National Bank increased its position in Fabrinet by 66.7% in the fourth quarter. Huntington National Bank now owns 230 shares of the technology company's stock worth $51,000 after purchasing an additional 92 shares during the period. Public Employees Retirement System of Ohio bought a new position in Fabrinet in the third quarter valued at approximately $61,000. IFP Advisors Inc grew its holdings in Fabrinet by 576.2% during the 4th quarter. IFP Advisors Inc now owns 284 shares of the technology company's stock worth $63,000 after acquiring an additional 242 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in shares of Fabrinet during the 3rd quarter valued at $70,000. Finally, Assetmark Inc. lifted its stake in shares of Fabrinet by 12.0% in 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 period. 97.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on FN shares. B. Riley raised Fabrinet from a "sell" rating to a "neutral" rating and decreased their price objective for the stock from $178.00 to $176.00 in a research note on Friday, April 4th. Fox Advisors began coverage on Fabrinet in a research note on Tuesday, February 18th. They issued an "overweight" rating and a $270.00 price target for the company. JPMorgan Chase & Co. decreased their price objective 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. Rosenblatt Securities reiterated a "buy" rating and issued a $285.00 target price on shares of Fabrinet in a report on Friday, March 14th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $280.00 price target on shares of Fabrinet in a report on Monday, March 17th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $250.14.

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Fabrinet Trading Down 1.1 %

Shares of NYSE FN traded down $2.13 during midday trading on Tuesday, reaching $188.06. The company's stock had a trading volume of 496,904 shares, compared to its average volume of 602,073. The stock has a 50 day simple moving average of $205.69 and a 200-day simple moving average of $226.34. The stock has a market capitalization of $6.82 billion, a price-to-earnings ratio of 21.04 and a beta of 0.97. Fabrinet has a fifty-two week low of $148.55 and a fifty-two week high of $281.79.

Fabrinet (NYSE:FN - Get Free Report) last issued its quarterly earnings results on Monday, February 3rd. The technology company reported $2.38 EPS 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%. As a group, equities analysts anticipate that Fabrinet will post 9.4 EPS for the current year.

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.