Natixis Advisors LLC Cuts Holdings in Fabrinet (NYSE:FN)

Natixis Advisors LLC cut its holdings in Fabrinet (NYSE:FN) by 14.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,251 shares of the technology company’s stock after selling 9,885 shares during the quarter. Natixis Advisors LLC’s holdings in Fabrinet were worth $12,808,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Wedge Capital Management L L P NC acquired a new stake in shares of Fabrinet during the 4th quarter valued at approximately $63,222,000. Whale Rock Capital Management LLC increased its stake in Fabrinet by 25.8% in the 3rd quarter. Whale Rock Capital Management LLC now owns 855,767 shares of the technology company’s stock valued at $202,338,000 after purchasing an additional 175,684 shares in the last quarter. Stephens Investment Management Group LLC acquired a new position in Fabrinet during the fourth quarter worth $28,218,000. Raymond James Financial Inc. purchased a new stake in Fabrinet during the fourth quarter worth $24,844,000. Finally, World Investment Advisors LLC acquired a new stake in Fabrinet in the third quarter valued at $20,187,000. Institutional investors and hedge funds own 97.38% of the company’s stock.

Fabrinet Stock Up 1.0 %

FN stock opened at $225.07 on Thursday. Fabrinet has a 52-week low of $159.69 and a 52-week high of $281.79. The stock’s fifty day simple moving average is $218.92 and its 200-day simple moving average is $230.45. The stock has a market capitalization of $8.16 billion, a price-to-earnings ratio of 25.18 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%. As a group, analysts anticipate that Fabrinet will post 9.4 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on FN. Rosenblatt Securities reiterated a “buy” rating and issued a $285.00 price objective on shares of Fabrinet in a research report on Friday, March 14th. B. Riley lowered shares of Fabrinet from a “neutral” rating to a “sell” rating and lowered their price target for the company from $194.00 to $178.00 in a research report on Wednesday, November 20th. JPMorgan Chase & Co. cut their price objective on Fabrinet from $275.00 to $265.00 and set a “neutral” rating for the company in a research report on Tuesday, February 4th. Fox Advisors started coverage on Fabrinet in a report on Tuesday, February 18th. They set an “overweight” rating and a $270.00 target price on the stock. Finally, Needham & Company LLC restated a “buy” rating and issued a $280.00 price objective on shares of Fabrinet in a research report on Monday. One analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price 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.