Versor Investments LP Sells 2,903 Shares of Fabrinet (NYSE:FN)

Versor Investments LP decreased its stake in Fabrinet (NYSE:FN) by 39.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,471 shares of the technology company’s stock after selling 2,903 shares during the period. Versor Investments LP’s holdings in Fabrinet were worth $983,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Barclays PLC increased its holdings in shares of Fabrinet by 304.6% in the 3rd quarter. Barclays PLC now owns 69,128 shares of the technology company’s stock worth $16,345,000 after buying an additional 52,042 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Fabrinet by 14.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 480,550 shares of the technology company’s stock valued at $113,621,000 after purchasing an additional 61,491 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of Fabrinet during the 3rd quarter valued at $2,398,000. Pathstone Holdings LLC grew its holdings in shares of Fabrinet by 40.7% during the 3rd quarter. Pathstone Holdings LLC now owns 8,219 shares of the technology company’s stock valued at $1,943,000 after purchasing an additional 2,378 shares during the last quarter. Finally, Freedom Investment Management Inc. grew its holdings in shares of Fabrinet by 106.2% during the 3rd quarter. Freedom Investment Management Inc. now owns 4,969 shares of the technology company’s stock valued at $1,175,000 after purchasing an additional 2,559 shares during the last quarter. Institutional investors own 97.38% of the company’s stock.

Wall Street Analysts Forecast Growth

FN has been the topic of several recent research reports. B. Riley lowered shares of Fabrinet from a “neutral” rating to a “sell” rating and reduced their target price for the company from $194.00 to $178.00 in a report on Wednesday, November 20th. Rosenblatt Securities increased their target price on shares of Fabrinet from $280.00 to $285.00 and gave the company a “buy” rating in a report on Tuesday, February 4th. Barclays reduced their target price on shares of Fabrinet from $292.00 to $245.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 4th. Fox Advisors initiated coverage on shares of Fabrinet in a report on Tuesday, February 18th. They set an “overweight” rating and a $270.00 target price on the stock. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $280.00 target price on shares of Fabrinet in a 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 issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $246.63.

Fabrinet Price Performance

Shares of NYSE FN opened at $195.50 on Friday. Fabrinet has a 1 year low of $159.69 and a 1 year high of $281.79. The stock has a market cap of $7.09 billion, a P/E ratio of 21.87 and a beta of 0.92. The firm has a 50-day moving average of $224.34 and a 200 day moving average of $234.25.

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