Mutual of America Capital Management LLC Cuts Position in Fabrinet (NYSE:FN)

Mutual of America Capital Management LLC decreased its position in Fabrinet (NYSE:FN) by 0.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 43,778 shares of the technology company’s stock after selling 397 shares during the quarter. Mutual of America Capital Management LLC owned 0.12% of Fabrinet worth $9,626,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Rosenblatt Securities boosted their price objective on Fabrinet from $280.00 to $285.00 and gave the stock a “buy” rating in a research note on Tuesday, February 4th. B. Riley lowered Fabrinet from a “neutral” rating to a “sell” rating and decreased their price target for the company from $194.00 to $178.00 in a report on Wednesday, November 20th. JPMorgan Chase & Co. lowered their price target on Fabrinet from $275.00 to $265.00 and set a “neutral” rating for the company in a research report on Tuesday, February 4th. Fox Advisors assumed coverage on shares of Fabrinet in a research report on Tuesday, February 18th. They set an “overweight” rating and a $270.00 price objective on the stock. Finally, Barclays lowered their target price on shares of Fabrinet from $292.00 to $245.00 and set an “equal weight” rating for the company in a report on Tuesday, February 4th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $246.63.

Fabrinet Trading Up 2.0 %

Shares of FN opened at $199.19 on Friday. The firm has a market capitalization of $7.22 billion, a P/E ratio of 22.28 and a beta of 0.92. Fabrinet has a 12-month low of $159.69 and a 12-month high of $281.79. The firm has a fifty day moving average price of $223.90 and a 200-day moving average price of $234.31.

Fabrinet (NYSE:FN) last issued its earnings results on Monday, February 3rd. The technology company reported $2.38 EPS 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%. Analysts predict that Fabrinet will post 9.4 earnings per share for the current year.

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.