Thurston Springer Miller Herd & Titak Inc. Acquires 1,760 Shares of Fabrinet (NYSE:FN)

Thurston Springer Miller Herd & Titak Inc. grew its holdings in Fabrinet (NYSE:FN - Free Report) by 67.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,369 shares of the technology company's stock after buying an additional 1,760 shares during the quarter. Thurston Springer Miller Herd & Titak Inc.'s holdings in Fabrinet were worth $961,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Park Avenue Securities LLC raised its position in Fabrinet by 21.4% in the 4th quarter. Park Avenue Securities LLC now owns 8,113 shares of the technology company's stock worth $1,784,000 after purchasing an additional 1,432 shares during the last quarter. Salem Investment Counselors Inc. acquired a new position in shares of Fabrinet during the fourth quarter valued at $518,000. Harbor Capital Advisors Inc. boosted its holdings in Fabrinet by 33.2% in the fourth quarter. Harbor Capital Advisors Inc. now owns 13,901 shares of the technology company's stock valued at $3,057,000 after acquiring an additional 3,468 shares during the last quarter. Diversified Trust Co increased its position in Fabrinet by 6.2% in the fourth quarter. Diversified Trust Co now owns 8,251 shares of the technology company's stock worth $1,814,000 after purchasing an additional 482 shares during the period. Finally, Bank of New Hampshire raised its holdings in Fabrinet by 6.1% during the 4th quarter. Bank of New Hampshire now owns 5,597 shares of the technology company's stock worth $1,231,000 after purchasing an additional 321 shares during the last quarter. Institutional investors and hedge funds own 97.38% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on FN. Needham & Company LLC began coverage on shares of Fabrinet in a research note on Tuesday, November 5th. They issued a "buy" rating and a $280.00 target price on the stock. B. Riley cut shares of Fabrinet from a "neutral" rating to a "sell" rating and dropped their target price for the company from $194.00 to $178.00 in a research report on Wednesday, November 20th. Finally, Barclays assumed coverage on Fabrinet in a research report on Thursday, November 14th. They issued an "equal weight" rating and a $292.00 price target on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $252.14.

Fabrinet Stock Performance

NYSE:FN traded up $1.62 on Thursday, reaching $235.36. The company's stock had a trading volume of 283,663 shares, compared to its average volume of 355,486. Fabrinet has a 1-year low of $159.69 and a 1-year high of $278.38. The firm has a market cap of $8.54 billion, a PE ratio of 27.85 and a beta of 0.93. The business's 50-day moving average price is $233.70 and its two-hundred day moving average price is $235.54.

Fabrinet (NYSE:FN - Get Free Report) last announced its quarterly earnings results on Monday, November 4th. The technology company reported $2.39 earnings per share for the quarter, beating analysts' consensus estimates of $2.38 by $0.01. Fabrinet had a net margin of 10.28% and a return on equity of 18.08%. The firm had revenue of $804.20 million for the quarter, compared to analyst estimates of $771.24 million. During the same quarter in the previous year, the firm posted $1.78 earnings per share. The business's revenue was up 17.3% on a year-over-year basis. As a group, sell-side analysts expect that Fabrinet will post 9.1 EPS 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.