Fabrinet (NYSE:FN) Shares Sold by Royce & Associates LP

Royce & Associates LP cut its stake in Fabrinet (NYSE:FN) by 53.5% during the 4th quarter, Holdings Channel.com reports. The fund owned 78,701 shares of the technology company’s stock after selling 90,683 shares during the period. Royce & Associates LP’s holdings in Fabrinet were worth $17,305,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Assetmark Inc. increased its stake in Fabrinet by 468.4% during the third quarter. Assetmark Inc. now owns 432 shares of the technology company’s stock worth $102,000 after acquiring an additional 356 shares during the last quarter. KBC Group NV grew its holdings in shares of Fabrinet by 12.2% during the 3rd quarter. KBC Group NV now owns 1,022 shares of the technology company’s stock worth $242,000 after purchasing an additional 111 shares during the period. Huntington National Bank raised its holdings in Fabrinet by 70.4% in the third quarter. Huntington National Bank now owns 138 shares of the technology company’s stock valued at $33,000 after buying an additional 57 shares during the period. Mutual of America Capital Management LLC lifted its position in Fabrinet by 43.4% during the third quarter. Mutual of America Capital Management LLC now owns 44,175 shares of the technology company’s stock valued at $10,445,000 after buying an additional 13,361 shares in the last quarter. Finally, LMR Partners LLP grew its stake in Fabrinet by 68.4% during the third quarter. LMR Partners LLP now owns 39,493 shares of the technology company’s stock worth $9,338,000 after buying an additional 16,037 shares during the period. 97.38% of the stock is currently owned by hedge funds and other institutional investors.

Fabrinet Stock Down 1.3 %

Shares of NYSE FN opened at $220.85 on Monday. The business has a 50 day moving average price of $219.44 and a two-hundred day moving average price of $230.79. Fabrinet has a fifty-two week low of $159.69 and a fifty-two week high of $281.79. The firm has a market cap of $8.01 billion, a PE ratio of 24.70 and a beta of 0.89.

Fabrinet (NYSE:FN) last issued its quarterly earnings results on Monday, February 3rd. The technology company reported $2.38 earnings per share (EPS) 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%. On average, analysts anticipate that Fabrinet will post 9.4 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on FN. JPMorgan Chase & Co. cut their target price on shares of Fabrinet from $275.00 to $265.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 4th. Rosenblatt Securities restated a “buy” rating and set a $285.00 price objective on shares of Fabrinet in a research note on Friday. 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. Barclays reduced their price target on Fabrinet from $292.00 to $245.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 4th. Finally, Fox Advisors initiated coverage on shares of Fabrinet in a research report on Tuesday, February 18th. They issued an “overweight” rating and a $270.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $246.63.

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.