Kessler Investment Group LLC Sells 127 Shares of Fabrinet (NYSE:FN)

Kessler Investment Group LLC lowered its position in shares of Fabrinet (NYSE:FN) by 35.5% in the 4th quarter, HoldingsChannel reports. The firm owned 231 shares of the technology company’s stock after selling 127 shares during the quarter. Kessler Investment Group LLC’s holdings in Fabrinet were worth $51,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Legacy Wealth Asset Management LLC lifted its stake in Fabrinet by 3.2% during the third quarter. Legacy Wealth Asset Management LLC now owns 1,375 shares of the technology company’s stock worth $325,000 after purchasing an additional 43 shares during the last quarter. Cynosure Group LLC lifted its stake in Fabrinet by 3.4% during the third quarter. Cynosure Group LLC now owns 1,560 shares of the technology company’s stock worth $369,000 after purchasing an additional 51 shares during the last quarter. Trust Point Inc. lifted its stake in Fabrinet by 4.7% during the third quarter. Trust Point Inc. now owns 1,272 shares of the technology company’s stock worth $301,000 after purchasing an additional 57 shares during the last quarter. Huntington National Bank lifted its stake in Fabrinet by 70.4% during the third quarter. Huntington National Bank now owns 138 shares of the technology company’s stock worth $33,000 after purchasing an additional 57 shares during the last quarter. Finally, Nations Financial Group Inc. IA ADV lifted its stake in Fabrinet by 2.4% during the fourth quarter. Nations Financial Group Inc. IA ADV now owns 2,941 shares of the technology company’s stock worth $647,000 after purchasing an additional 68 shares during the last quarter. Institutional investors own 97.38% of the company’s stock.

Fabrinet Price Performance

Shares of NYSE:FN opened at $223.29 on Friday. Fabrinet has a 1 year low of $159.69 and a 1 year high of $281.79. The company has a market cap of $8.10 billion, a PE ratio of 24.98 and a beta of 0.92. The stock’s 50-day moving average is $227.62 and its 200 day moving average is $233.30.

Fabrinet (NYSE:FN) last posted its earnings results on Monday, February 3rd. The technology company reported $2.38 earnings per share 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%. Analysts expect that Fabrinet will post 9.4 EPS for the current fiscal year.

Wall Street Analyst Weigh In

FN has been the subject of a number of recent research reports. Needham & Company LLC reissued a “buy” rating and issued a $280.00 target price on shares of Fabrinet in a research note on Tuesday, February 4th. JPMorgan Chase & Co. lowered their target price on Fabrinet from $275.00 to $265.00 and set a “neutral” rating for the company in a research note on Tuesday, February 4th. Barclays lowered their target price on Fabrinet from $292.00 to $245.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 4th. B. Riley lowered Fabrinet from a “neutral” rating to a “sell” rating and lowered their target price for the company from $194.00 to $178.00 in a research note on Wednesday, November 20th. Finally, Rosenblatt Securities boosted their target price on Fabrinet from $280.00 to $285.00 and gave the company a “buy” rating in a research note on Tuesday, February 4th. One equities research 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $243.29.

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.