Fabrinet (NYSE:FN) Stock Holdings Reduced by Artisan Partners Limited Partnership

Artisan Partners Limited Partnership cut its position in shares of Fabrinet (NYSE:FN) by 9.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 387,380 shares of the technology company’s stock after selling 41,612 shares during the period. Artisan Partners Limited Partnership owned 1.07% of Fabrinet worth $85,177,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in FN. EFG Asset Management North America Corp. bought a new position in shares of Fabrinet during the 4th quarter valued at $1,726,000. Emerald Advisers LLC raised its holdings in Fabrinet by 32.0% during the fourth quarter. Emerald Advisers LLC now owns 123,001 shares of the technology company’s stock valued at $27,045,000 after buying an additional 29,834 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Fabrinet by 2.8% in the fourth quarter. Vanguard Group Inc. now owns 4,137,579 shares of the technology company’s stock worth $909,771,000 after buying an additional 113,186 shares during the last quarter. Bridge City Capital LLC boosted its stake in shares of Fabrinet by 12.5% during the 4th quarter. Bridge City Capital LLC now owns 23,957 shares of the technology company’s stock worth $5,268,000 after acquiring an additional 2,668 shares in the last quarter. Finally, LPL Financial LLC increased its holdings in shares of Fabrinet by 110.4% during the 4th quarter. LPL Financial LLC now owns 14,531 shares of the technology company’s stock valued at $3,195,000 after acquiring an additional 7,624 shares during the last quarter. 97.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Fabrinet Stock Down 0.8 %

FN stock opened at $207.17 on Friday. The business’s 50-day simple moving average is $217.58 and its 200 day simple moving average is $230.15. The company has a market cap of $7.51 billion, a PE ratio of 23.17 and a beta of 0.89. Fabrinet has a twelve month low of $159.69 and a twelve month high of $281.79.

Fabrinet (NYSE:FN) last announced its quarterly earnings data on Monday, February 3rd. The technology company reported $2.38 earnings per share 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%. On average, equities research analysts anticipate that Fabrinet will post 9.4 EPS 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.