Public Employees Retirement System of Ohio Buys Shares of 260 Fabrinet (NYSE:FN)

Public Employees Retirement System of Ohio purchased a new position in shares of Fabrinet (NYSE:FN) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 260 shares of the technology company’s stock, valued at approximately $61,000.

Several other hedge funds and other institutional investors have also modified their holdings of FN. Huntington National Bank increased its position in shares of Fabrinet by 70.4% during the third quarter. Huntington National Bank now owns 138 shares of the technology company’s stock worth $33,000 after acquiring an additional 57 shares during the period. Banque Cantonale Vaudoise acquired a new position in Fabrinet during the second quarter worth approximately $35,000. Kimelman & Baird LLC purchased a new stake in Fabrinet in the second quarter valued at approximately $49,000. NBC Securities Inc. boosted its holdings in shares of Fabrinet by 732.0% in the third quarter. NBC Securities Inc. now owns 208 shares of the technology company’s stock valued at $49,000 after acquiring an additional 183 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Fabrinet during the third quarter worth approximately $52,000. 97.38% of the stock is currently owned by hedge funds and other institutional investors.

Fabrinet Trading Down 0.7 %

NYSE FN opened at $221.26 on Monday. The business’s 50 day moving average is $242.77 and its two-hundred day moving average is $237.75. The stock has a market capitalization of $8.02 billion, a price-to-earnings ratio of 26.18 and a beta of 0.92. Fabrinet has a 12-month low of $159.69 and a 12-month high of $278.38.

Fabrinet (NYSE:FN) last released its quarterly earnings data on Monday, November 4th. The technology company reported $2.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.38 by $0.01. The firm had revenue of $804.20 million during the quarter, compared to analysts’ expectations of $771.24 million. Fabrinet had a return on equity of 18.08% and a net margin of 10.28%. Fabrinet’s revenue was up 17.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.78 earnings per share. Equities analysts forecast that Fabrinet will post 9.1 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

FN has been the subject of a number of recent research reports. Barclays assumed coverage on shares of Fabrinet in a research note on Thursday, November 14th. They set an “equal weight” rating and a $292.00 price target for the company. Needham & Company LLC began coverage on shares of Fabrinet in a research note on Tuesday, November 5th. They set a “buy” rating and a $280.00 target price for the company. Finally, B. Riley cut Fabrinet from a “neutral” rating to a “sell” rating and dropped their price target for the company from $194.00 to $178.00 in a research report on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $252.14.

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.