Tidal Investments LLC Grows Stock Holdings in Fabrinet (NYSE:FN)

Tidal Investments LLC grew its holdings in Fabrinet (NYSE:FN) by 46.3% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,089 shares of the technology company’s stock after buying an additional 978 shares during the period. Tidal Investments LLC’s holdings in Fabrinet were worth $730,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Huntington National Bank lifted its holdings in shares of Fabrinet by 70.4% in the 3rd quarter. Huntington National Bank now owns 138 shares of the technology company’s stock valued at $33,000 after acquiring an additional 57 shares during the last quarter. Banque Cantonale Vaudoise purchased a new stake in Fabrinet during the second quarter valued at approximately $35,000. Kimelman & Baird LLC bought a new stake in shares of Fabrinet in the 2nd quarter valued at approximately $49,000. NBC Securities Inc. boosted its holdings in shares of Fabrinet by 732.0% in the 3rd quarter. NBC Securities Inc. now owns 208 shares of the technology company’s stock worth $49,000 after purchasing an additional 183 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Fabrinet during the 3rd quarter valued at approximately $52,000. 97.38% of the stock is currently owned by institutional investors.

Fabrinet Trading Down 0.7 %

Shares of FN opened at $221.26 on Friday. The firm has a fifty day moving average price of $242.77 and a 200-day moving average price of $237.78. The firm has a market capitalization of $8.02 billion, a P/E ratio of 26.18 and a beta of 0.92. Fabrinet has a 12-month low of $159.69 and a 12-month high of $278.38.

Fabrinet (NYSE:FN) last released its quarterly earnings data on Monday, November 4th. The technology company reported $2.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.38 by $0.01. The company had revenue of $804.20 million during the quarter, compared to analysts’ expectations of $771.24 million. Fabrinet had a net margin of 10.28% and a return on equity of 18.08%. The firm’s quarterly revenue was up 17.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.78 EPS. Analysts predict that Fabrinet will post 9.1 earnings per share for the current year.

Analyst Ratings Changes

FN has been the subject of several recent analyst reports. Barclays began coverage on shares of Fabrinet in a research note on Thursday, November 14th. They set an “equal weight” rating and a $292.00 price objective for the company. Needham & Company LLC initiated coverage on shares of Fabrinet in a research note on Tuesday, November 5th. They set a “buy” rating and a $280.00 price target for the company. Finally, B. Riley downgraded shares of Fabrinet from a “neutral” rating to a “sell” rating and cut their price target for the company from $194.00 to $178.00 in a report on Wednesday, November 20th. 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 company currently has a consensus rating of “Hold” and an average price target of $252.14.

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.