Proficio Capital Partners LLC Invests $8.41 Million in Fabrinet (NYSE:FN)

Proficio Capital Partners LLC acquired a new stake in Fabrinet (NYSE:FN - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 38,259 shares of the technology company's stock, valued at approximately $8,412,000. Proficio Capital Partners LLC owned 0.11% of Fabrinet at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the business. Los Angeles Capital Management LLC raised its position in Fabrinet by 9.4% during the 4th quarter. Los Angeles Capital Management LLC now owns 29,532 shares of the technology company's stock worth $6,493,000 after purchasing an additional 2,546 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Fabrinet by 1.1% during the fourth quarter. Bank of New York Mellon Corp now owns 283,892 shares of the technology company's stock worth $62,422,000 after acquiring an additional 2,990 shares during the last quarter. IFP Advisors Inc lifted its stake in shares of Fabrinet by 576.2% in the fourth 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. Sigma Planning Corp lifted its stake in shares of Fabrinet by 3.8% in the fourth quarter. Sigma Planning Corp now owns 2,499 shares of the technology company's stock worth $549,000 after acquiring an additional 91 shares during the period. Finally, Handelsbanken Fonder AB boosted its holdings in Fabrinet by 21.2% in the fourth quarter. Handelsbanken Fonder AB now owns 10,866 shares of the technology company's stock valued at $2,389,000 after acquiring an additional 1,900 shares during the last quarter. Institutional investors own 97.38% of the company's stock.

Fabrinet Stock Performance

Fabrinet stock traded down $10.11 during mid-day trading on Monday, reaching $189.94. The stock had a trading volume of 705,958 shares, compared to its average volume of 713,596. Fabrinet has a fifty-two week low of $159.69 and a fifty-two week high of $281.79. The stock's 50-day simple moving average is $223.90 and its 200-day simple moving average is $234.43. The firm has a market capitalization of $6.89 billion, a PE ratio of 21.25 and a beta of 0.92.

Fabrinet (NYSE:FN - Get Free Report) last released 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, research analysts forecast that Fabrinet will post 9.4 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on FN. B. Riley downgraded shares of Fabrinet from a "neutral" rating to a "sell" rating and dropped their price target for the stock from $194.00 to $178.00 in a research report on Wednesday, November 20th. Fox Advisors initiated coverage on shares of Fabrinet in a research report on Tuesday, February 18th. They set an "overweight" rating and a $270.00 price target on the stock. Rosenblatt Securities lifted their price objective on Fabrinet from $280.00 to $285.00 and gave the stock a "buy" rating in a research report on Tuesday, February 4th. Needham & Company LLC restated a "buy" rating and set a $280.00 target price on shares of Fabrinet in a research report 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 investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $246.63.

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.