Fabrinet (NYSE:FN) Shares Sold by Versor Investments LP

Versor Investments LP reduced its position in shares of Fabrinet (NYSE:FN - Free Report) by 39.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,471 shares of the technology company's stock after selling 2,903 shares during the period. Versor Investments LP's holdings in Fabrinet were worth $983,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of FN. Raymond James & Associates grew its holdings in shares of Fabrinet by 8.5% in the third quarter. Raymond James & Associates now owns 21,746 shares of the technology company's stock valued at $5,142,000 after purchasing an additional 1,708 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Fabrinet by 13.8% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 4,003 shares of the technology company's stock worth $946,000 after acquiring an additional 484 shares during the period. Oak Ridge Investments LLC acquired a new stake in shares of Fabrinet in the third quarter valued at $2,661,000. Farther Finance Advisors LLC raised its stake in shares of Fabrinet by 13.3% in the third quarter. Farther Finance Advisors LLC now owns 860 shares of the technology company's stock valued at $203,000 after acquiring an additional 101 shares in the last quarter. Finally, Silvant Capital Management LLC boosted its holdings in Fabrinet by 43.0% in the third quarter. Silvant Capital Management LLC now owns 9,397 shares of the technology company's stock valued at $2,222,000 after purchasing an additional 2,826 shares during the period. 97.38% of the stock is owned by institutional investors and hedge funds.

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Fabrinet Trading Down 5.1 %

Shares of NYSE FN traded down $10.11 during trading hours on Monday, reaching $189.94. The stock had a trading volume of 705,938 shares, compared to its average volume of 713,589. The firm has a market cap of $6.89 billion, a price-to-earnings ratio of 21.25 and a beta of 0.92. Fabrinet has a fifty-two week low of $159.69 and a fifty-two week high of $281.79. The firm has a 50-day moving average of $223.90 and a 200-day moving average of $234.43.

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 analysts' consensus estimates 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 predict that Fabrinet will post 9.4 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on FN shares. B. Riley downgraded Fabrinet from a "neutral" rating to a "sell" rating and cut their price target for the stock from $194.00 to $178.00 in a report on Wednesday, November 20th. Barclays reduced their target price on shares of Fabrinet from $292.00 to $245.00 and set an "equal weight" rating on the stock in a report on Tuesday, February 4th. Rosenblatt Securities lifted their price target on shares of Fabrinet from $280.00 to $285.00 and gave the stock a "buy" rating in a research note on Tuesday, February 4th. Needham & Company LLC reissued a "buy" rating and issued a $280.00 price objective on shares of Fabrinet in a research report on Tuesday, February 4th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Fabrinet from $275.00 to $265.00 and set a "neutral" rating on the stock in a report on Tuesday, February 4th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $246.63.

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.