Stifel Financial Corp Increases Position in Fabrinet (NYSE:FN)

Stifel Financial Corp raised its position in shares of Fabrinet (NYSE:FN) by 9.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,295 shares of the technology company’s stock after purchasing an additional 1,041 shares during the period. Stifel Financial Corp’s holdings in Fabrinet were worth $2,907,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of FN. Legacy Wealth Asset Management LLC grew its position in Fabrinet by 3.2% during the third quarter. Legacy Wealth Asset Management LLC now owns 1,375 shares of the technology company’s stock valued at $325,000 after acquiring an additional 43 shares during the last quarter. Wolff Wiese Magana LLC boosted its position in Fabrinet by 2.7% during the third quarter. Wolff Wiese Magana LLC now owns 1,765 shares of the technology company’s stock valued at $417,000 after buying an additional 47 shares during the period. Cynosure Group LLC grew its stake in shares of Fabrinet by 3.4% during the third quarter. Cynosure Group LLC now owns 1,560 shares of the technology company’s stock valued at $369,000 after buying an additional 51 shares during the last quarter. Trust Point Inc. increased its holdings in shares of Fabrinet by 4.7% in the third quarter. Trust Point Inc. now owns 1,272 shares of the technology company’s stock worth $301,000 after buying an additional 57 shares during the period. Finally, Huntington National Bank lifted its stake in shares of Fabrinet by 70.4% in the 3rd quarter. Huntington National Bank now owns 138 shares of the technology company’s stock valued at $33,000 after acquiring an additional 57 shares during the last quarter. 97.38% of the stock is owned by hedge funds and other institutional investors.

Fabrinet Trading Down 2.5 %

Shares of FN opened at $231.67 on Wednesday. Fabrinet has a 1-year low of $159.69 and a 1-year high of $278.38. The firm’s 50-day moving average price is $244.65 and its 200-day moving average price is $238.03. The firm has a market capitalization of $8.40 billion, a price-to-earnings ratio of 27.42 and a beta of 0.92.

Fabrinet (NYSE:FN) last announced its earnings results on Monday, November 4th. The technology company reported $2.39 EPS for the quarter, beating analysts’ consensus estimates of $2.38 by $0.01. Fabrinet had a net margin of 10.28% and a return on equity of 18.08%. The firm had revenue of $804.20 million for the quarter, compared to analysts’ expectations of $771.24 million. During the same quarter in the previous year, the business posted $1.78 EPS. The company’s quarterly revenue was up 17.3% on a year-over-year basis. On average, research analysts forecast that Fabrinet will post 9.1 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

FN has been the topic of several recent research reports. B. Riley lowered Fabrinet from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $194.00 to $178.00 in a research report on Wednesday, November 20th. JPMorgan Chase & Co. upped their price target on shares of Fabrinet from $240.00 to $285.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Rosenblatt Securities raised their price target on shares of Fabrinet from $260.00 to $280.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. Needham & Company LLC assumed coverage on shares of Fabrinet in a research note on Tuesday, November 5th. They set a “buy” rating and a $280.00 price objective for the company. Finally, Barclays assumed coverage on Fabrinet in a research note on Thursday, November 14th. They issued an “equal weight” rating and a $292.00 target price on the stock. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average 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.