Natixis Advisors LLC Decreases Stake in Fabrinet (NYSE:FN)

Natixis Advisors LLC cut its stake in shares of Fabrinet (NYSE:FN) by 14.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 58,251 shares of the technology company’s stock after selling 9,885 shares during the quarter. Natixis Advisors LLC owned approximately 0.16% of Fabrinet worth $12,808,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. First Eagle Investment Management LLC increased its position in shares of Fabrinet by 24.8% in the 4th quarter. First Eagle Investment Management LLC now owns 60,040 shares of the technology company’s stock valued at $13,202,000 after purchasing an additional 11,936 shares during the last quarter. Commonwealth Equity Services LLC grew its stake in shares of Fabrinet by 11.0% during the fourth quarter. Commonwealth Equity Services LLC now owns 3,940 shares of the technology company’s stock worth $866,000 after purchasing an additional 391 shares in the last quarter. Bowen Hanes & Co. Inc. increased its holdings in Fabrinet by 5.7% in the fourth quarter. Bowen Hanes & Co. Inc. now owns 148,000 shares of the technology company’s stock valued at $32,542,000 after buying an additional 8,000 shares during the last quarter. Erste Asset Management GmbH raised its stake in Fabrinet by 34.7% in the fourth quarter. Erste Asset Management GmbH now owns 28,785 shares of the technology company’s stock valued at $6,272,000 after buying an additional 7,410 shares in the last quarter. Finally, Swiss National Bank lifted its holdings in Fabrinet by 0.7% during the 4th quarter. Swiss National Bank now owns 71,040 shares of the technology company’s stock worth $15,620,000 after buying an additional 500 shares during the last quarter. 97.38% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

FN has been the topic of several research analyst reports. Barclays cut their target price on Fabrinet from $292.00 to $245.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 4th. Rosenblatt Securities reissued a “buy” rating and set a $285.00 price objective on shares of Fabrinet in a report on Friday, March 14th. JPMorgan Chase & Co. lowered their target price on shares of Fabrinet from $275.00 to $265.00 and set a “neutral” rating for the company in a report on Tuesday, February 4th. Needham & Company LLC reaffirmed a “buy” rating and issued a $280.00 target price on shares of Fabrinet in a research report on Monday. Finally, Fox Advisors began coverage on Fabrinet in a research report on Tuesday, February 18th. They set an “overweight” rating and a $270.00 target price on the stock. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $246.63.

Fabrinet Stock Up 1.0 %

Shares of FN stock opened at $225.07 on Thursday. Fabrinet has a 52-week low of $159.69 and a 52-week high of $281.79. The stock’s 50-day moving average price is $218.92 and its 200 day moving average price is $230.45. The stock has a market capitalization of $8.16 billion, a PE ratio of 25.18 and a beta of 0.89.

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 return on equity of 18.48% and a net margin of 10.44%. 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.