Freedom Investment Management Inc. Sells 133 Shares of Fabrinet (NYSE:FN)

Freedom Investment Management Inc. trimmed its stake in Fabrinet (NYSE:FN) by 2.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,836 shares of the technology company’s stock after selling 133 shares during the quarter. Freedom Investment Management Inc.’s holdings in Fabrinet were worth $1,063,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Huntington National Bank increased its holdings in shares of Fabrinet by 66.7% in the 4th quarter. Huntington National Bank now owns 230 shares of the technology company’s stock worth $51,000 after purchasing an additional 92 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of Fabrinet during the third quarter valued at $61,000. IFP Advisors Inc increased its holdings in Fabrinet by 576.2% in the 4th quarter. IFP Advisors Inc now owns 284 shares of the technology company’s stock worth $63,000 after buying an additional 242 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Fabrinet in the 3rd quarter worth about $70,000. Finally, Assetmark Inc. raised its position in Fabrinet by 12.0% in the 4th quarter. Assetmark Inc. now owns 484 shares of the technology company’s stock worth $106,000 after buying an additional 52 shares during the last quarter. 97.38% of the stock is owned by hedge funds and other institutional investors.

Fabrinet Stock Down 1.6 %

FN stock opened at $183.63 on Friday. The business’s 50-day moving average price is $203.49 and its 200-day moving average price is $225.13. The stock has a market cap of $6.58 billion, a P/E ratio of 20.54 and a beta of 0.97. Fabrinet has a twelve month low of $148.55 and a twelve month high of $281.79.

Fabrinet (NYSE:FN) last posted its quarterly earnings results on Monday, February 3rd. The technology company reported $2.38 earnings per share for the quarter, missing analysts’ consensus estimates of $2.48 by ($0.10). Fabrinet had a return on equity of 18.48% and a net margin of 10.44%. On average, equities research analysts expect that Fabrinet will post 9.4 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on FN shares. JPMorgan Chase & Co. reduced their price target on shares of Fabrinet from $265.00 to $220.00 and set a “neutral” rating for the company in a research note on Thursday. Barclays cut their target price on shares of Fabrinet from $292.00 to $245.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 4th. Rosenblatt Securities reissued a “buy” rating and set a $285.00 price target on shares of Fabrinet in a report on Friday, March 14th. Needham & Company LLC reaffirmed a “buy” rating and issued a $280.00 price objective on shares of Fabrinet in a report on Monday, March 17th. Finally, Fox Advisors started coverage on Fabrinet in a report on Tuesday, February 18th. They issued an “overweight” rating and a $270.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $243.71.

Fabrinet 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.