Rice Hall James & Associates LLC Sells 5,617 Shares of Fabrinet (NYSE:FN)

Rice Hall James & Associates LLC cut its stake in shares of Fabrinet (NYSE:FN - Free Report) by 4.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 124,988 shares of the technology company's stock after selling 5,617 shares during the period. Fabrinet makes up about 1.5% of Rice Hall James & Associates LLC's holdings, making the stock its 17th biggest position. Rice Hall James & Associates LLC owned 0.34% of Fabrinet worth $27,482,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of FN. CWM LLC raised its position in Fabrinet by 59.1% during the third quarter. CWM LLC now owns 845 shares of the technology company's stock valued at $200,000 after buying an additional 314 shares during the period. Creative Planning raised its position in Fabrinet by 22.0% during the third quarter. Creative Planning now owns 13,455 shares of the technology company's stock valued at $3,181,000 after buying an additional 2,422 shares during the period. NBC Securities Inc. raised its position in Fabrinet by 732.0% during the third quarter. NBC Securities Inc. now owns 208 shares of the technology company's stock valued at $49,000 after buying an additional 183 shares during the period. Blue Trust Inc. raised its position in Fabrinet by 249.2% during the third quarter. Blue Trust Inc. now owns 426 shares of the technology company's stock valued at $104,000 after buying an additional 304 shares during the period. Finally, Raymond James & Associates raised its position in Fabrinet by 8.5% during the third quarter. Raymond James & Associates now owns 21,746 shares of the technology company's stock valued at $5,142,000 after buying an additional 1,708 shares during the period. 97.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on FN shares. Needham & Company LLC reissued a "buy" rating and set a $280.00 price target on shares of Fabrinet in a research report on Tuesday, February 4th. Fox Advisors began coverage on Fabrinet in a research note on Tuesday. They issued an "overweight" rating and a $270.00 target price on the stock. Barclays lowered their target price on Fabrinet from $292.00 to $245.00 and set an "equal weight" rating on the stock in a research note on Tuesday, February 4th. JPMorgan Chase & Co. lowered their target price on Fabrinet from $275.00 to $265.00 and set a "neutral" rating on the stock in a research note on Tuesday, February 4th. Finally, Rosenblatt Securities boosted their target price on Fabrinet from $280.00 to $285.00 and gave the company a "buy" rating in a research note on Tuesday, February 4th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Fabrinet presently has an average rating of "Hold" and an average price target of $246.63.

Fabrinet Stock Performance

Shares of FN traded down $8.50 during trading hours on Friday, hitting $222.17. 495,615 shares of the company were exchanged, compared to its average volume of 717,445. The company has a market cap of $8.06 billion, a PE ratio of 24.85 and a beta of 0.92. The firm's 50 day moving average is $226.73 and its 200-day moving average is $233.90. Fabrinet has a 52 week low of $159.69 and a 52 week high of $281.79.

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 (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 forecast that Fabrinet will post 9.4 earnings per share for the current fiscal 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.