Montanaro Asset Management Ltd Has $7.48 Million Stake in Fabrinet (NYSE:FN)

Montanaro Asset Management Ltd reduced its position in Fabrinet (NYSE:FN) by 17.5% in the 4th quarter, HoldingsChannel reports. The firm owned 34,020 shares of the technology company’s stock after selling 7,230 shares during the period. Montanaro Asset Management Ltd’s holdings in Fabrinet were worth $7,480,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Pathstone Holdings LLC increased its holdings in shares of Fabrinet by 40.7% in the third quarter. Pathstone Holdings LLC now owns 8,219 shares of the technology company’s stock valued at $1,943,000 after purchasing an additional 2,378 shares during the last quarter. Citigroup Inc. boosted its holdings in shares of Fabrinet by 13.9% during the 3rd quarter. Citigroup Inc. now owns 38,115 shares of the technology company’s stock worth $9,012,000 after buying an additional 4,639 shares during the period. Cerity Partners LLC grew its stake in Fabrinet by 41.4% in the 3rd quarter. Cerity Partners LLC now owns 2,144 shares of the technology company’s stock valued at $507,000 after buying an additional 628 shares during the last quarter. Pitcairn Co. bought a new position in Fabrinet in the 3rd quarter valued at about $450,000. Finally, Bank of Montreal Can lifted its position in Fabrinet by 61.6% during the third quarter. Bank of Montreal Can now owns 18,425 shares of the technology company’s stock worth $4,418,000 after acquiring an additional 7,025 shares during the last quarter. Institutional investors own 97.38% of the company’s stock.

Analyst Ratings Changes

FN has been the topic of a number of recent research reports. Fox Advisors assumed coverage on Fabrinet in a research note on Tuesday, February 18th. They set an “overweight” rating and a $270.00 target price on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $280.00 price objective on shares of Fabrinet in a research note on Monday, March 17th. Barclays lowered their target price on shares of Fabrinet from $292.00 to $245.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 4th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $285.00 price objective on shares of Fabrinet in a report on Friday, March 14th. Finally, JPMorgan Chase & Co. reduced their target price on Fabrinet from $275.00 to $265.00 and set a “neutral” rating on the stock in a report on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Fabrinet presently has an average rating of “Hold” and an average target price of $250.43.

Fabrinet Stock Performance

Fabrinet stock opened at $208.94 on Thursday. The stock has a fifty day moving average of $218.14 and a 200-day moving average of $230.31. The stock has a market capitalization of $7.58 billion, a P/E ratio of 23.37 and a beta of 0.89. Fabrinet has a 52 week low of $159.69 and a 52 week high of $281.79.

Fabrinet (NYSE:FN) last posted its quarterly 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 net margin of 10.44% and a return on equity of 18.48%. On average, research analysts forecast that Fabrinet will post 9.4 earnings per share for the current 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.