Williamson Legacy Group LLC Purchases Shares of 1,555 Fabrinet (NYSE:FN)

Williamson Legacy Group LLC purchased a new stake in shares of Fabrinet (NYSE:FN) in the fourth quarter, HoldingsChannel.com reports. The firm purchased 1,555 shares of the technology company’s stock, valued at approximately $342,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Huntington National Bank boosted its position in shares of Fabrinet by 70.4% in the third quarter. Huntington National Bank now owns 138 shares of the technology company’s stock worth $33,000 after buying an additional 57 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Fabrinet in the third quarter worth about $52,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Fabrinet in the third quarter worth about $61,000. IFP Advisors Inc boosted its position in shares of Fabrinet by 576.2% in the fourth quarter. IFP Advisors Inc now owns 284 shares of the technology company’s stock worth $63,000 after buying an additional 242 shares during the period. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of Fabrinet in the third quarter worth about $70,000. Hedge funds and other institutional investors own 97.38% of the company’s stock.

Wall Street Analysts Forecast Growth

FN has been the subject of several analyst reports. Barclays decreased their target price on Fabrinet from $292.00 to $245.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 4th. JPMorgan Chase & Co. decreased their target price on Fabrinet from $275.00 to $265.00 and set a “neutral” rating for the company in a research report on Tuesday, February 4th. B. Riley downgraded Fabrinet from a “neutral” rating to a “sell” rating and reduced their price target for the company from $194.00 to $178.00 in a report on Wednesday, November 20th. Needham & Company LLC reissued a “buy” rating and issued a $280.00 price target on shares of Fabrinet in a report on Tuesday, February 4th. Finally, Fox Advisors started coverage on Fabrinet in a report on Tuesday, February 18th. They issued an “overweight” rating and a $270.00 price target for the company. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $246.63.

Fabrinet Trading Up 2.0 %

Shares of NYSE FN opened at $199.19 on Friday. The company has a market cap of $7.22 billion, a price-to-earnings ratio of 22.28 and a beta of 0.92. Fabrinet has a 12-month low of $159.69 and a 12-month high of $281.79. The stock’s 50 day simple moving average is $223.90 and its 200 day simple moving average is $234.20.

Fabrinet (NYSE:FN) last announced its quarterly earnings results on Monday, February 3rd. The technology company reported $2.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.48 by ($0.10). Fabrinet had a return on equity of 18.48% and a net margin of 10.44%. As a group, equities analysts forecast that Fabrinet will post 9.4 earnings per share for the current fiscal year.

Fabrinet 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.