1,144 Shares in Fabrinet (NYSE:FN) Purchased by Ieq Capital LLC

Ieq Capital LLC acquired a new position in Fabrinet (NYSE:FN) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,144 shares of the technology company’s stock, valued at approximately $252,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Global Retirement Partners LLC increased its holdings in shares of Fabrinet by 155.7% during the fourth quarter. Global Retirement Partners LLC now owns 652 shares of the technology company’s stock valued at $143,000 after acquiring an additional 397 shares in the last quarter. Kestra Investment Management LLC purchased a new stake in Fabrinet during the 4th quarter valued at about $241,000. Truist Financial Corp grew its position in Fabrinet by 9.7% during the 4th quarter. Truist Financial Corp now owns 7,305 shares of the technology company’s stock valued at $1,606,000 after purchasing an additional 645 shares during the last quarter. CIBC Asset Management Inc increased its stake in Fabrinet by 5.7% during the 4th quarter. CIBC Asset Management Inc now owns 1,113 shares of the technology company’s stock valued at $245,000 after purchasing an additional 60 shares in the last quarter. Finally, Baillie Gifford & Co. raised its holdings in Fabrinet by 10.7% in the fourth quarter. Baillie Gifford & Co. now owns 553,038 shares of the technology company’s stock worth $121,602,000 after buying an additional 53,250 shares during the last quarter. Institutional investors own 97.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on FN. B. Riley cut shares of Fabrinet from a “neutral” rating to a “sell” rating and cut their price target for the company from $194.00 to $178.00 in a report on Wednesday, November 20th. Barclays reduced their target price on Fabrinet from $292.00 to $245.00 and set an “equal weight” rating for the company in a report on Tuesday, February 4th. Fox Advisors started coverage on Fabrinet in a research note on Tuesday, February 18th. They issued an “overweight” rating and a $270.00 price target for the company. Rosenblatt Securities increased their price objective on Fabrinet from $280.00 to $285.00 and gave the company a “buy” rating in a research report on Tuesday, February 4th. Finally, JPMorgan Chase & Co. decreased their target price on Fabrinet from $275.00 to $265.00 and set a “neutral” rating for the company in a research report on Tuesday, February 4th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $246.63.

Fabrinet Stock Performance

Fabrinet stock opened at $199.19 on Friday. The stock has a market cap of $7.22 billion, a PE ratio of 22.28 and a beta of 0.92. The stock has a fifty day moving average of $223.90 and a 200 day moving average of $234.20. Fabrinet has a one year low of $159.69 and a one year high of $281.79.

Fabrinet (NYSE:FN) last released 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, sell-side analysts predict that Fabrinet will post 9.4 EPS for the current fiscal year.

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.