Proficio Capital Partners LLC Takes Position in Fabrinet (NYSE:FN)

Proficio Capital Partners LLC bought a new position in shares of Fabrinet (NYSE:FNFree Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 38,259 shares of the technology company’s stock, valued at approximately $8,412,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Huntington National Bank raised its holdings in shares of Fabrinet by 70.4% in the 3rd quarter. Huntington National Bank now owns 138 shares of the technology company’s stock worth $33,000 after purchasing an additional 57 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in Fabrinet in the third quarter worth approximately $52,000. Public Employees Retirement System of Ohio bought a new position in shares of Fabrinet in the third quarter valued at $61,000. IFP Advisors Inc lifted its position in shares of Fabrinet by 576.2% during the 4th quarter. IFP Advisors Inc now owns 284 shares of the technology company’s stock valued at $63,000 after acquiring an additional 242 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Fabrinet during the 3rd quarter worth $70,000. 97.38% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Needham & Company LLC reaffirmed a “buy” rating and set a $280.00 target price on shares of Fabrinet in a report on Tuesday, February 4th. Rosenblatt Securities reaffirmed a “buy” rating and set a $285.00 price objective on shares of Fabrinet in a research note on Friday. Barclays cut their price target on shares of Fabrinet from $292.00 to $245.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 4th. B. Riley lowered shares of Fabrinet from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $194.00 to $178.00 in a research note on Wednesday, November 20th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Fabrinet from $275.00 to $265.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 4th. One investment 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 a consensus rating of “Hold” and an average target price of $246.63.

View Our Latest Research Report on Fabrinet

Fabrinet Stock Down 1.3 %

FN stock opened at $220.85 on Friday. The company has a 50 day moving average of $219.44 and a two-hundred day moving average of $230.88. The company 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 12-month low of $159.69 and a 12-month high of $281.79.

Fabrinet (NYSE:FNGet Free Report) last announced its quarterly earnings results on Monday, February 3rd. The technology company reported $2.38 EPS for the quarter, missing the consensus estimate 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 anticipate that Fabrinet will post 9.4 EPS for the current year.

About Fabrinet

(Free Report)

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.

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Institutional Ownership by Quarter for Fabrinet (NYSE:FN)

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