Fabrinet (NYSE:FN) Shares Acquired by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. boosted its stake in Fabrinet (NYSE:FN) by 12.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,678 shares of the technology company’s stock after purchasing an additional 418 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Fabrinet were worth $809,000 as of its most recent filing with the SEC.

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

Fabrinet Trading Up 0.5 %

NYSE:FN opened at $221.13 on Tuesday. Fabrinet has a 52 week low of $159.69 and a 52 week high of $281.79. The stock has a 50 day moving average of $219.21 and a 200-day moving average of $230.63. The firm has a market capitalization of $8.02 billion, a PE ratio of 24.74 and a beta of 0.89.

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%. As a group, analysts predict that Fabrinet will post 9.4 EPS for the current fiscal year.

Wall Street Analyst Weigh In

FN has been the topic of a number of recent research reports. Barclays reduced their price target on shares of Fabrinet from $292.00 to $245.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 4th. B. Riley cut shares of Fabrinet from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $194.00 to $178.00 in a research report on Wednesday, November 20th. Needham & Company LLC restated a “buy” rating and issued a $280.00 price target on shares of Fabrinet in a report on Monday. Fox Advisors initiated coverage on Fabrinet in a research note on Tuesday, February 18th. They set an “overweight” rating and a $270.00 target price for the company. Finally, Rosenblatt Securities reissued a “buy” rating and set a $285.00 price target on shares of Fabrinet in a research report on Friday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $246.63.

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.