Royce & Associates LP Has $17.31 Million Stock Holdings in Fabrinet (NYSE:FN)

Royce & Associates LP lessened its stake in Fabrinet (NYSE:FN - Free Report) by 53.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 78,701 shares of the technology company's stock after selling 90,683 shares during the period. Royce & Associates LP owned 0.22% of Fabrinet worth $17,305,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Huntington National Bank boosted its position in shares of Fabrinet by 70.4% during the 3rd quarter. Huntington National Bank now owns 138 shares of the technology company's stock valued at $33,000 after purchasing an additional 57 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Fabrinet during the 3rd quarter valued at about $52,000. Public Employees Retirement System of Ohio bought a new position in shares of Fabrinet during the 3rd quarter valued at about $61,000. IFP Advisors Inc boosted its position in shares of Fabrinet by 576.2% during the 4th quarter. IFP Advisors Inc now owns 284 shares of the technology company's stock valued at $63,000 after purchasing an additional 242 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Fabrinet during the 3rd quarter valued at about $70,000. Institutional investors own 97.38% of the company's stock.

Fabrinet Stock Performance

Shares of FN stock traded down $2.44 during trading on Thursday, hitting $222.08. 442,776 shares of the company were exchanged, compared to its average volume of 547,895. The firm has a market capitalization of $8.05 billion, a price-to-earnings ratio of 24.84 and a beta of 0.89. The business's 50-day simple moving average is $218.92 and its 200 day simple moving average is $230.45. Fabrinet has a twelve month low of $159.69 and a twelve month high of $281.79.

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Fabrinet (NYSE:FN - Get Free Report) last posted 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%. On average, equities analysts forecast that Fabrinet will post 9.4 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently weighed in on FN. Needham & Company LLC restated a "buy" rating and set a $280.00 price objective on shares of Fabrinet in a research report on Monday. Rosenblatt Securities reaffirmed a "buy" rating and set a $285.00 price objective on shares of Fabrinet in a research note on Friday, March 14th. B. Riley lowered shares of Fabrinet from a "neutral" rating to a "sell" rating and reduced their price objective for the company from $194.00 to $178.00 in a research note on Wednesday, November 20th. JPMorgan Chase & Co. reduced their price objective on shares of Fabrinet from $275.00 to $265.00 and set a "neutral" rating for the company in a research note on Tuesday, February 4th. Finally, Fox Advisors started coverage on shares of Fabrinet in a research note on Tuesday, February 18th. They set an "overweight" rating and a $270.00 price objective for the company. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $246.63.

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.