Montanaro Asset Management Ltd Sells 7,230 Shares of Fabrinet (NYSE:FN)

Montanaro Asset Management Ltd lowered its stake in Fabrinet (NYSE:FN) by 17.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 34,020 shares of the technology company’s stock after selling 7,230 shares during the period. Montanaro Asset Management Ltd owned 0.09% of Fabrinet worth $7,480,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Fabrinet during the third quarter worth $52,000. Public Employees Retirement System of Ohio bought a new stake in shares of Fabrinet in the 3rd quarter valued at about $61,000. IFP Advisors Inc raised its position in shares of Fabrinet by 576.2% in 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 acquired a new stake in shares of Fabrinet in the 3rd quarter valued at approximately $70,000. Finally, Transamerica Financial Advisors Inc. bought a new position in Fabrinet during the 3rd quarter worth approximately $114,000. Institutional investors own 97.38% of the company’s stock.

Fabrinet Stock Performance

Shares of Fabrinet stock opened at $208.94 on Thursday. The firm has a market cap of $7.58 billion, a PE ratio of 23.37 and a beta of 0.89. The business’s 50 day simple moving average is $218.14 and its 200 day simple moving average is $230.31. Fabrinet has a 52-week low of $159.69 and a 52-week high of $281.79.

Fabrinet (NYSE:FN) last posted its quarterly earnings data 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%. As a group, equities research analysts predict that Fabrinet will post 9.4 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $280.00 target price on shares of Fabrinet in a report on Monday, March 17th. Fox Advisors assumed coverage on Fabrinet in a research note on Tuesday, February 18th. They set an “overweight” rating and a $270.00 price objective on the stock. Rosenblatt Securities reiterated a “buy” rating and set a $285.00 target price on shares of Fabrinet in a report on Friday, March 14th. 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 report on Tuesday, February 4th. Finally, Barclays cut their price objective on Fabrinet from $292.00 to $245.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 4th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Fabrinet presently has a consensus rating of “Hold” and a consensus price target of $250.43.

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.