[ad_1]
Federated Hermes Inc. cut its position in Fabrinet (NYSE:FN – Free Report) by 13.9% in the fourth quarter, Holdings Channel reports. The firm owned 3,959 shares of the technology company’s stock after selling 638 shares during the period. Federated Hermes Inc.’s holdings in Fabrinet were worth $871,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also modified their holdings of FN. Huntington National Bank increased its position in Fabrinet by 66.7% in the 4th quarter. Huntington National Bank now owns 230 shares of the technology company’s stock valued at $51,000 after acquiring an additional 92 shares during the period. Public Employees Retirement System of Ohio acquired a new position in shares of Fabrinet during the 3rd quarter worth $61,000. IFP Advisors Inc increased its holdings in Fabrinet by 576.2% in the fourth quarter. IFP Advisors Inc now owns 284 shares of the technology company’s stock valued at $63,000 after buying an additional 242 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Fabrinet during the third quarter worth $70,000. Finally, Assetmark Inc. grew its stake in Fabrinet by 12.0% in the 4th quarter. Assetmark Inc. now owns 484 shares of the technology company’s stock valued at $106,000 after acquiring an additional 52 shares during the last quarter. 97.38% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of analysts recently commented on the company. B. Riley raised Fabrinet from a “sell” rating to a “neutral” rating and decreased their price objective for the company from $178.00 to $176.00 in a research note on Friday, April 4th. Rosenblatt Securities restated a “buy” rating and set a $285.00 price target on shares of Fabrinet in a research note on Friday, March 14th. Fox Advisors began coverage on Fabrinet in a research note on Tuesday, February 18th. They set an “overweight” rating and a $270.00 price objective on the stock. JPMorgan Chase & Co. dropped their price target 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. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $280.00 target price on shares of Fabrinet in a research report on Monday, March 17th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Fabrinet has an average rating of “Hold” and a consensus target price of $250.14.
Check Out Our Latest Analysis on Fabrinet
Fabrinet Stock Down 1.1 %
Shares of NYSE FN opened at $188.06 on Wednesday. The stock has a market capitalization of $6.74 billion, a P/E ratio of 21.04 and a beta of 0.97. The firm’s 50-day moving average price is $205.04 and its two-hundred day moving average price is $226.08. Fabrinet has a 52-week low of $148.55 and a 52-week high of $281.79.
Fabrinet (NYSE:FN – Get Free Report) last issued its quarterly earnings data on Monday, February 3rd. The technology company reported $2.38 earnings per share (EPS) for the quarter, missing the consensus estimate 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, equities research analysts expect that Fabrinet will post 9.4 earnings per share for the current year.
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.
Featured Stories
Want to see what other hedge funds are holding FN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fabrinet (NYSE:FN – Free Report).
Receive News & Ratings for Fabrinet Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Fabrinet and related companies with MarketBeat.com’s FREE daily email newsletter.
[ad_2]
Source link