Public Employees Retirement System of Ohio Purchases Shares of 260 Fabrinet (NYSE:FN)

Public Employees Retirement System of Ohio acquired a new position in shares of Fabrinet (NYSE:FN) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 260 shares of the technology company’s stock, valued at approximately $61,000.

Other institutional investors have also recently modified their holdings of the company. Huntington National Bank lifted its holdings in 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 purchasing an additional 57 shares in the last quarter. Banque Cantonale Vaudoise acquired a new position in shares of Fabrinet in the second quarter valued at approximately $35,000. Kimelman & Baird LLC purchased a new position in shares of Fabrinet during the second quarter valued at approximately $49,000. NBC Securities Inc. boosted its position in Fabrinet by 732.0% during the third quarter. NBC Securities Inc. now owns 208 shares of the technology company’s stock worth $49,000 after acquiring an additional 183 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Fabrinet in the 3rd quarter worth approximately $52,000. 97.38% of the stock is currently owned by institutional investors and hedge funds.

Fabrinet Trading Down 0.7 %

FN stock opened at $221.26 on Monday. The company has a market cap of $8.02 billion, a PE ratio of 26.18 and a beta of 0.92. The stock has a 50-day moving average price of $242.77 and a two-hundred day moving average price of $237.75. Fabrinet has a 12-month low of $159.69 and a 12-month high of $278.38.

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

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on FN shares. Needham & Company LLC began coverage on Fabrinet in a research note on Tuesday, November 5th. They set a “buy” rating and a $280.00 price target on the stock. B. Riley downgraded Fabrinet from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $194.00 to $178.00 in a research report on Wednesday, November 20th. Finally, Barclays began coverage on Fabrinet in a report on Thursday, November 14th. They issued an “equal weight” rating and a $292.00 price target for the company. One analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $252.14.

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.