Royce & Associates LP Trims Position in Fabrinet (NYSE:FN)

Royce & Associates LP lowered its stake in shares of Fabrinet (NYSE:FN) by 53.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 78,701 shares of the technology company’s stock after selling 90,683 shares during the quarter. Royce & Associates LP owned about 0.22% of Fabrinet worth $17,305,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in FN. Barclays PLC boosted its holdings in Fabrinet by 304.6% in the 3rd quarter. Barclays PLC now owns 69,128 shares of the technology company’s stock valued at $16,345,000 after purchasing an additional 52,042 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Fabrinet by 14.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 480,550 shares of the technology company’s stock valued at $113,621,000 after buying an additional 61,491 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Fabrinet during the third quarter worth $2,398,000. Pathstone Holdings LLC raised its position in 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 acquiring an additional 2,378 shares in the last quarter. Finally, Freedom Investment Management Inc. lifted its holdings in Fabrinet by 106.2% in the third quarter. Freedom Investment Management Inc. now owns 4,969 shares of the technology company’s stock valued at $1,175,000 after acquiring an additional 2,559 shares during the period. Institutional investors and hedge funds own 97.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Rosenblatt Securities reiterated a “buy” rating and issued a $285.00 price target on shares of Fabrinet in a report on Friday. Barclays reduced their price target 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 initiated coverage on Fabrinet in a report on Tuesday, February 18th. They issued an “overweight” rating and a $270.00 price target on the stock. JPMorgan Chase & Co. reduced their price objective on Fabrinet from $275.00 to $265.00 and set a “neutral” rating for the company in a report on Tuesday, February 4th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $280.00 target price on shares of Fabrinet in a 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’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $246.63.

Fabrinet Stock Down 1.3 %

NYSE FN opened at $220.85 on Monday. The stock has a market cap of $8.01 billion, a price-to-earnings ratio of 24.70 and a beta of 0.89. Fabrinet has a fifty-two week low of $159.69 and a fifty-two week high of $281.79. The business has a fifty day moving average of $219.44 and a 200-day moving average of $230.79.

Fabrinet (NYSE:FN) last released 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%. As a group, analysts anticipate that Fabrinet will post 9.4 EPS for the current 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.