DB Fitzpatrick & Co Inc Sells 111 Shares of Fabrinet (NYSE:FN)

DB Fitzpatrick & Co Inc decreased its position in shares of Fabrinet (NYSE:FN) by 2.3% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 4,754 shares of the technology company’s stock after selling 111 shares during the period. DB Fitzpatrick & Co Inc’s holdings in Fabrinet were worth $1,045,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Barclays PLC boosted its stake in Fabrinet by 304.6% during the third quarter. Barclays PLC now owns 69,128 shares of the technology company’s stock worth $16,345,000 after acquiring an additional 52,042 shares in the last quarter. nVerses Capital LLC bought a new stake in shares of Fabrinet in the 3rd quarter worth approximately $567,000. Charles Schwab Investment Management Inc. grew its stake in shares of Fabrinet by 14.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 480,550 shares of the technology company’s stock worth $113,621,000 after buying an additional 61,491 shares during the last quarter. Pathstone Holdings LLC increased its position in Fabrinet by 40.7% during the 3rd quarter. Pathstone Holdings LLC now owns 8,219 shares of the technology company’s stock valued at $1,943,000 after buying an additional 2,378 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new position in Fabrinet during the 3rd quarter valued at approximately $2,398,000. Hedge funds and other institutional investors own 97.38% of the company’s stock.

Analyst Ratings Changes

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

Fabrinet Stock Performance

FN opened at $242.13 on Friday. The company’s 50-day simple moving average is $233.12 and its two-hundred day simple moving average is $235.54. The stock has a market capitalization of $8.78 billion, a P/E ratio of 28.65 and a beta of 0.93. Fabrinet has a 52-week low of $159.69 and a 52-week 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 the consensus estimate of $2.38 by $0.01. The company had revenue of $804.20 million for 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 quarter last year, the company posted $1.78 earnings per share. Research analysts forecast that Fabrinet will post 9.1 EPS for the current fiscal year.

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.