Fabrinet (NYSE:FN) Stock Holdings Trimmed by Premier Fund Managers Ltd

Premier Fund Managers Ltd lessened its position in shares of Fabrinet (NYSE:FN) by 12.3% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 21,750 shares of the technology company’s stock after selling 3,050 shares during the quarter. Premier Fund Managers Ltd’s holdings in Fabrinet were worth $4,671,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also made changes to their positions in the company. Norges Bank bought a new position in shares of Fabrinet in the 4th quarter worth about $95,084,000. Wedge Capital Management L L P NC acquired a new stake in Fabrinet during the fourth quarter worth about $63,222,000. Whale Rock Capital Management LLC lifted its holdings in Fabrinet by 25.8% in the third quarter. Whale Rock Capital Management LLC now owns 855,767 shares of the technology company’s stock worth $202,338,000 after acquiring an additional 175,684 shares during the last quarter. Stephens Investment Management Group LLC acquired a new position in Fabrinet in the fourth quarter valued at approximately $28,218,000. Finally, Vanguard Group Inc. grew its holdings in shares of Fabrinet by 2.8% during the fourth quarter. Vanguard Group Inc. now owns 4,137,579 shares of the technology company’s stock valued at $909,771,000 after purchasing an additional 113,186 shares during the last quarter. 97.38% of the stock is currently owned by institutional investors.

Fabrinet Trading Down 0.8 %

Shares of NYSE:FN opened at $207.17 on Friday. Fabrinet has a twelve month low of $159.69 and a twelve month high of $281.79. The firm has a market cap of $7.51 billion, a P/E ratio of 23.17 and a beta of 0.89. The company has a 50 day moving average of $217.58 and a 200-day moving average of $230.15.

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 net margin of 10.44% and a return on equity of 18.48%. Equities research analysts forecast that Fabrinet will post 9.4 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on FN shares. Needham & Company LLC restated a “buy” rating and set a $280.00 price objective on shares of Fabrinet in a research report on Monday, March 17th. Rosenblatt Securities restated a “buy” rating and set a $285.00 price target on shares of Fabrinet in a research report on Friday, March 14th. JPMorgan Chase & Co. dropped their price objective on shares of Fabrinet from $275.00 to $265.00 and set a “neutral” rating on the stock in a report on Tuesday, February 4th. Fox Advisors assumed coverage on shares of Fabrinet in a research note on Tuesday, February 18th. They set an “overweight” rating and a $270.00 target price for the company. Finally, Barclays dropped their price target on shares of Fabrinet from $292.00 to $245.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 4th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $250.43.

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.