Value Aligned Research Advisors LLC Lowers Stake in Fabrinet (NYSE:FN)

Value Aligned Research Advisors LLC cut its stake in Fabrinet (NYSE:FN - Free Report) by 50.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 33,570 shares of the technology company's stock after selling 34,197 shares during the quarter. Fabrinet comprises about 2.0% of Value Aligned Research Advisors LLC's holdings, making the stock its 15th biggest holding. Value Aligned Research Advisors LLC owned about 0.09% of Fabrinet worth $7,381,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of FN. Huntington National Bank grew its position in shares of Fabrinet by 66.7% in the 4th quarter. Huntington National Bank now owns 230 shares of the technology company's stock worth $51,000 after buying an additional 92 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in Fabrinet in the third quarter worth about $61,000. IFP Advisors Inc increased its stake in shares of Fabrinet by 576.2% during the fourth 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. Wilmington Savings Fund Society FSB purchased a new position in shares of Fabrinet during the third quarter valued at approximately $70,000. Finally, Assetmark Inc. lifted its holdings in shares of Fabrinet by 12.0% during the fourth 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. 97.38% of the stock is owned by hedge funds and other institutional investors.

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Fabrinet Stock Down 1.1 %

Shares of Fabrinet stock traded down $2.13 during trading hours on Tuesday, reaching $188.06. 496,905 shares of the stock traded hands, compared to its average volume of 602,741. Fabrinet has a one year low of $148.55 and a one year high of $281.79. The firm has a market capitalization of $6.82 billion, a price-to-earnings ratio of 21.04 and a beta of 0.97. The company has a 50 day moving average price of $205.04 and a 200 day moving average price of $226.08.

Fabrinet (NYSE:FN - Get Free Report) last announced its 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 net margin of 10.44% and a return on equity of 18.48%. Sell-side analysts anticipate that Fabrinet will post 9.4 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on FN shares. Needham & Company LLC reiterated a "buy" rating and set a $280.00 price objective on shares of Fabrinet in a research note on Monday, March 17th. Barclays reduced their price target on shares of Fabrinet from $292.00 to $245.00 and set an "equal weight" rating for the company in a research report on Tuesday, February 4th. Fox Advisors assumed coverage on Fabrinet in a research report on Tuesday, February 18th. They issued an "overweight" rating and a $270.00 price objective on the stock. B. Riley upgraded Fabrinet from a "sell" rating to a "neutral" rating and decreased their price target for the stock from $178.00 to $176.00 in a research note on Friday, April 4th. Finally, Rosenblatt Securities reaffirmed a "buy" rating and set a $285.00 price objective on shares of Fabrinet in a research report on Friday, March 14th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, Fabrinet presently has a consensus rating of "Hold" and a consensus target price of $250.14.

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.