Fabrinet (NYSE:FN) Stock Holdings Lowered by Russell Investments Group Ltd.

Russell Investments Group Ltd. cut its position in Fabrinet (NYSE:FN - Free Report) by 44.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 17,697 shares of the technology company's stock after selling 14,337 shares during the quarter. Russell Investments Group Ltd.'s holdings in Fabrinet were worth $3,891,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of FN. Barclays PLC lifted its position in Fabrinet by 304.6% during the third quarter. Barclays PLC now owns 69,128 shares of the technology company's stock valued at $16,345,000 after purchasing an additional 52,042 shares during the period. Salem Investment Counselors Inc. purchased a new position in shares of Fabrinet during the 4th quarter worth $518,000. Janney Montgomery Scott LLC lifted its holdings in Fabrinet by 2.6% in the fourth quarter. Janney Montgomery Scott LLC now owns 3,279 shares of the technology company's stock valued at $721,000 after acquiring an additional 82 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Fabrinet by 3.8% during the third quarter. JPMorgan Chase & Co. now owns 660,401 shares of the technology company's stock worth $156,145,000 after buying an additional 24,439 shares during the period. Finally, Harbor Capital Advisors Inc. increased its holdings in Fabrinet by 33.2% in the 4th quarter. Harbor Capital Advisors Inc. now owns 13,901 shares of the technology company's stock valued at $3,057,000 after purchasing an additional 3,468 shares during the last quarter. 97.38% of the stock is owned by hedge funds and other institutional investors.

Fabrinet Stock Down 1.6 %

Shares of NYSE FN traded down $3.08 during trading on Friday, reaching $183.63. 425,242 shares of the stock were exchanged, compared to its average volume of 605,850. The company has a market capitalization of $6.58 billion, a price-to-earnings ratio of 20.54 and a beta of 0.97. The business's 50-day moving average price is $203.97 and its 200 day moving average price is $225.44. Fabrinet has a twelve month low of $148.55 and a twelve month high of $281.79.

Fabrinet (NYSE:FN - Get Free Report) last posted its quarterly earnings data 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, sell-side analysts expect that Fabrinet will post 9.4 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on FN shares. B. Riley upgraded shares of Fabrinet from a "sell" rating to a "neutral" rating and dropped their price objective for the company from $178.00 to $176.00 in a report on Friday, April 4th. Barclays cut their target price on Fabrinet from $292.00 to $245.00 and set an "equal weight" rating on the stock in a research report on Tuesday, February 4th. Fox Advisors initiated coverage on shares of Fabrinet in a research report 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 Fabrinet from $265.00 to $220.00 and set a "neutral" rating for the company in a report on Thursday. Finally, Rosenblatt Securities restated a "buy" rating and issued a $285.00 price target on shares of Fabrinet in a research report on Friday, March 14th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Fabrinet currently has an average rating of "Hold" and a consensus price target of $243.71.

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.