Janney Montgomery Scott LLC Acquires 82 Shares of Fabrinet (NYSE:FN)

Janney Montgomery Scott LLC grew its holdings in Fabrinet (NYSE:FN) by 2.6% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 3,279 shares of the technology company’s stock after acquiring an additional 82 shares during the period. Janney Montgomery Scott LLC’s holdings in Fabrinet were worth $721,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Wedge Capital Management L L P NC purchased a new stake in Fabrinet in the fourth quarter worth $63,222,000. Whale Rock Capital Management LLC boosted its holdings in shares of Fabrinet by 25.8% during the 3rd quarter. Whale Rock Capital Management LLC now owns 855,767 shares of the technology company’s stock valued at $202,338,000 after buying an additional 175,684 shares in the last quarter. World Investment Advisors LLC purchased a new stake in shares of Fabrinet in the 3rd quarter worth about $20,187,000. DekaBank Deutsche Girozentrale increased its stake in shares of Fabrinet by 3,831.4% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 82,088 shares of the technology company’s stock worth $19,465,000 after acquiring an additional 80,000 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in Fabrinet by 7.6% during the 3rd quarter. Geode Capital Management LLC now owns 986,813 shares of the technology company’s stock valued at $233,359,000 after acquiring an additional 69,554 shares during the period. 97.38% of the stock is owned by hedge funds and other institutional investors.

Fabrinet Stock Down 3.8 %

Shares of NYSE FN opened at $212.43 on Friday. The firm’s 50-day moving average price is $230.11 and its 200-day moving average price is $233.94. Fabrinet has a 52-week low of $159.69 and a 52-week high of $281.79. The company has a market cap of $7.70 billion, a PE ratio of 25.14 and a beta of 0.92.

Fabrinet (NYSE:FN) last released its quarterly earnings results on Monday, February 3rd. The technology company reported $2.38 earnings per share for the quarter, missing the consensus estimate of $2.48 by ($0.10). Fabrinet had a net margin of 10.28% and a return on equity of 18.08%. As a group, equities research analysts anticipate that Fabrinet will post 9.1 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on FN shares. B. Riley cut shares of Fabrinet from a “neutral” rating to a “sell” rating and cut their price objective for the stock from $194.00 to $178.00 in a report on Wednesday, November 20th. Barclays lowered their price objective on Fabrinet from $292.00 to $245.00 and set an “equal weight” rating for the company in a research note on Tuesday. Rosenblatt Securities raised their price target on Fabrinet from $280.00 to $285.00 and gave the company a “buy” rating in a report on Tuesday. JPMorgan Chase & Co. dropped their price target on shares of Fabrinet from $275.00 to $265.00 and set a “neutral” rating on the stock in a research note on Tuesday. Finally, Needham & Company LLC restated a “buy” rating and set a $280.00 price objective on shares of Fabrinet in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Fabrinet presently has a consensus rating of “Hold” and a consensus price target of $243.29.

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.