Archford Capital Strategies LLC Raises Stake in Fabrinet (NYSE:FN)

Archford Capital Strategies LLC grew its holdings in shares of Fabrinet (NYSE:FN) by 4.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,886 shares of the technology company’s stock after acquiring an additional 84 shares during the quarter. Archford Capital Strategies LLC’s holdings in Fabrinet were worth $415,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Huntington National Bank raised its position in Fabrinet by 70.4% in the 3rd 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 period. Kimelman & Baird LLC purchased a new position in shares of Fabrinet in the second quarter worth about $49,000. NBC Securities Inc. lifted its stake in shares of Fabrinet by 732.0% in the 3rd quarter. NBC Securities Inc. now owns 208 shares of the technology company’s stock valued at $49,000 after acquiring an additional 183 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Fabrinet during the 3rd quarter valued at about $52,000. Finally, UMB Bank n.a. grew its position in Fabrinet by 252.9% during the 3rd quarter. UMB Bank n.a. now owns 240 shares of the technology company’s stock worth $57,000 after acquiring an additional 172 shares during the last quarter. 97.38% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Barclays started coverage on Fabrinet in a research report on Thursday, November 14th. They issued an “equal weight” rating and a $292.00 price objective for the company. Needham & Company LLC initiated coverage on shares of Fabrinet in a research report on Tuesday, November 5th. They set a “buy” rating and a $280.00 price target for the company. Finally, B. Riley lowered shares of Fabrinet from a “neutral” rating to a “sell” rating and cut their price target for the stock from $194.00 to $178.00 in a report on Wednesday, November 20th. 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. According to data from MarketBeat, Fabrinet currently has an average rating of “Hold” and an average target price of $252.14.

Fabrinet Trading Down 2.9 %

Shares of Fabrinet stock opened at $258.14 on Monday. Fabrinet has a 12-month low of $159.69 and a 12-month high of $281.79. The company has a market cap of $9.36 billion, a P/E ratio of 30.55 and a beta of 0.93. The company’s fifty day simple moving average is $233.48 and its two-hundred day simple moving average is $236.08.

Fabrinet (NYSE:FN) last announced its quarterly earnings results on Monday, November 4th. The technology company reported $2.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.38 by $0.01. Fabrinet had a net margin of 10.28% and a return on equity of 18.08%. The company had revenue of $804.20 million for the quarter, compared to analysts’ expectations of $771.24 million. During the same quarter in the previous year, the company earned $1.78 earnings per share. Fabrinet’s quarterly revenue was up 17.3% on a year-over-year basis. Analysts predict that Fabrinet will post 9.1 EPS for the current fiscal year.

Fabrinet 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.