Farther Finance Advisors LLC Sells 139 Shares of Fabrinet (NYSE:FN)

Farther Finance Advisors LLC trimmed its stake in Fabrinet (NYSE:FN) by 16.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 721 shares of the technology company’s stock after selling 139 shares during the period. Farther Finance Advisors LLC’s holdings in Fabrinet were worth $159,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Fabrinet in the 3rd quarter valued at approximately $52,000. Public Employees Retirement System of Ohio acquired a new stake in Fabrinet in the 3rd quarter valued at approximately $61,000. IFP Advisors Inc grew its holdings in Fabrinet by 576.2% in the 4th quarter. IFP Advisors Inc now owns 284 shares of the technology company’s stock valued at $63,000 after buying an additional 242 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Fabrinet in the 3rd quarter valued at approximately $70,000. Finally, Assetmark Inc. grew its holdings 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 buying an additional 52 shares during the last quarter. 97.38% of the stock is owned by institutional investors.

Fabrinet Price Performance

Shares of FN stock opened at $222.08 on Friday. The stock’s fifty day simple moving average is $218.70 and its 200 day simple moving average is $230.39. The firm has a market cap of $8.05 billion, a price-to-earnings ratio of 24.84 and a beta of 0.89. Fabrinet has a one year low of $159.69 and a one year high of $281.79.

Fabrinet (NYSE:FN) 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 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have issued reports on FN. Needham & Company LLC reaffirmed a “buy” rating and issued a $280.00 target price on shares of Fabrinet in a report on Monday. Fox Advisors began coverage on Fabrinet in a report on Tuesday, February 18th. They issued an “overweight” rating and a $270.00 target price on the stock. JPMorgan Chase & Co. lowered their target price on Fabrinet from $275.00 to $265.00 and set a “neutral” rating on the stock in a report on Tuesday, February 4th. Barclays lowered their target price on Fabrinet from $292.00 to $245.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 4th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $285.00 price objective on shares of Fabrinet in a report on Friday, March 14th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $246.63.

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.