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

Proficio Capital Partners LLC purchased a new position in shares of Fabrinet (NYSE:FN - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 38,259 shares of the technology company's stock, valued at approximately $8,412,000. Proficio Capital Partners LLC owned 0.11% of Fabrinet as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in FN. Cynosure Group LLC increased its stake in shares of Fabrinet by 3.4% in the third quarter. Cynosure Group LLC now owns 1,560 shares of the technology company's stock worth $369,000 after purchasing an additional 51 shares during the period. Assetmark Inc. lifted its holdings in 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. Huntington National Bank grew its position in Fabrinet by 70.4% during the 3rd quarter. Huntington National Bank now owns 138 shares of the technology company's stock worth $33,000 after acquiring an additional 57 shares during the last quarter. CIBC Asset Management Inc lifted its position in Fabrinet by 5.7% during the 4th quarter. CIBC Asset Management Inc now owns 1,113 shares of the technology company's stock worth $245,000 after buying an additional 60 shares in the last quarter. Finally, Nations Financial Group Inc. IA ADV grew its stake in shares of Fabrinet by 2.4% during the fourth quarter. Nations Financial Group Inc. IA ADV now owns 2,941 shares of the technology company's stock valued at $647,000 after purchasing an additional 68 shares during the last quarter. 97.38% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. 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 research note on Tuesday, February 4th. Barclays lowered their target price on Fabrinet from $292.00 to $245.00 and set an "equal weight" rating for the company in a report on Tuesday, February 4th. Fox Advisors initiated 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. Rosenblatt Securities restated a "buy" rating and issued a $285.00 price target on shares of Fabrinet in a research note on Friday, March 14th. Finally, B. Riley cut shares of Fabrinet from a "neutral" rating to a "sell" rating and dropped their price objective for the stock from $194.00 to $178.00 in a research note on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $246.63.

Fabrinet Trading Up 1.0 %

NYSE:FN traded up $2.21 during mid-day trading on Wednesday, hitting $225.07. 455,364 shares of the company's stock were exchanged, compared to its average volume of 778,701. Fabrinet has a fifty-two week low of $159.69 and a fifty-two week high of $281.79. The firm has a market capitalization of $8.16 billion, a P/E ratio of 25.18 and a beta of 0.89. The company has a 50 day simple moving average of $219.08 and a 200-day simple moving average of $230.48.

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%. As a group, analysts expect that Fabrinet will post 9.4 earnings per share for the current year.

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.