Herald Investment Management Ltd Lowers Stock Position in Fabrinet (NYSE:FN)

Herald Investment Management Ltd reduced its stake in shares of Fabrinet (NYSE:FN) by 2.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 178,550 shares of the technology company’s stock after selling 5,000 shares during the period. Fabrinet comprises 6.4% of Herald Investment Management Ltd’s investment portfolio, making the stock its 2nd biggest position. Herald Investment Management Ltd owned approximately 0.49% of Fabrinet worth $39,235,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Huntington National Bank increased its stake in shares of Fabrinet by 66.7% in the fourth 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 position in Fabrinet in the 3rd quarter valued at approximately $61,000. IFP Advisors Inc raised its holdings in 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 acquiring an additional 242 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in shares of Fabrinet during the third quarter worth $70,000. Finally, Assetmark Inc. lifted its position in shares of Fabrinet by 12.0% during the fourth quarter. Assetmark Inc. now owns 484 shares of the technology company’s stock worth $106,000 after acquiring an additional 52 shares in the last quarter. Hedge funds and other institutional investors own 97.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on FN shares. Rosenblatt Securities reiterated a “buy” rating and set a $285.00 price objective on shares of Fabrinet in a research note on Friday, March 14th. JPMorgan Chase & Co. decreased their price target on Fabrinet from $265.00 to $220.00 and set a “neutral” rating on the stock in a research report on Thursday. Barclays reduced their price objective on shares of Fabrinet from $292.00 to $245.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 4th. B. Riley upgraded shares of Fabrinet from a “sell” rating to a “neutral” rating and lowered their target price for the stock from $178.00 to $176.00 in a research note on Friday, April 4th. Finally, Needham & Company LLC restated a “buy” rating and set a $280.00 price target on shares of Fabrinet in a research report on Monday, March 17th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $243.71.

Fabrinet Price Performance

Shares of NYSE FN opened at $183.63 on Friday. The firm’s 50 day simple moving average is $203.97 and its two-hundred day simple moving average is $225.44. Fabrinet has a one year low of $148.55 and a one year high of $281.79. The stock has a market capitalization of $6.58 billion, a P/E ratio of 20.54 and a beta of 0.97.

Fabrinet (NYSE:FN) last issued its quarterly earnings data 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%. As a group, equities 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.