Fabrinet (NYSE:FN) Shares Sold by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC lowered its stake in Fabrinet (NYSE:FN) by 32.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,593 shares of the technology company’s stock after selling 782 shares during the period. Sequoia Financial Advisors LLC’s holdings in Fabrinet were worth $350,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in FN. KBC Group NV raised its stake in Fabrinet by 12.2% in the 3rd quarter. KBC Group NV now owns 1,022 shares of the technology company’s stock worth $242,000 after acquiring an additional 111 shares during the last quarter. Huntington National Bank raised its stake in shares of Fabrinet by 70.4% in the third quarter. Huntington National Bank now owns 138 shares of the technology company’s stock worth $33,000 after purchasing an additional 57 shares during the last quarter. Pathstone Holdings LLC raised its stake 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 worth $1,943,000 after purchasing an additional 2,378 shares during the last quarter. Premier Fund Managers Ltd lifted its holdings in shares of Fabrinet by 4.2% during the third quarter. Premier Fund Managers Ltd now owns 24,800 shares of the technology company’s stock worth $5,950,000 after purchasing an additional 1,000 shares during the period. Finally, Jennison Associates LLC purchased a new stake in Fabrinet in the third quarter valued at approximately $745,000. 97.38% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have commented on FN shares. B. Riley cut shares of Fabrinet from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $194.00 to $178.00 in a research note on Wednesday, November 20th. Needham & Company LLC restated a “buy” rating and set a $280.00 target price on shares of Fabrinet in a research report on Monday. Rosenblatt Securities reaffirmed a “buy” rating and set a $285.00 price target on shares of Fabrinet in a research report on Friday, March 14th. Fox Advisors assumed coverage on Fabrinet in a report on Tuesday, February 18th. They issued an “overweight” rating and a $270.00 price objective for the company. Finally, JPMorgan Chase & Co. lowered their price objective on Fabrinet from $275.00 to $265.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 4th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $246.63.

Fabrinet Trading Up 0.6 %

Shares of FN stock opened at $222.73 on Wednesday. Fabrinet has a 12-month low of $159.69 and a 12-month high of $281.79. The business’s 50 day moving average is $219.08 and its two-hundred day moving average is $230.48. The company has a market capitalization of $8.08 billion, a P/E ratio of 24.91 and a beta of 0.89.

Fabrinet (NYSE:FN) last announced its 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%. On average, research analysts predict that Fabrinet will post 9.4 earnings per share 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.