New York State Teachers Retirement System Sells 300 Shares of Fabrinet (NYSE:FN)

New York State Teachers Retirement System trimmed its stake in shares of Fabrinet (NYSE:FN) by 1.1% in the fourth quarter, HoldingsChannel.com reports. The fund owned 26,684 shares of the technology company’s stock after selling 300 shares during the quarter. New York State Teachers Retirement System’s holdings in Fabrinet were worth $5,867,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of FN. CWM LLC lifted its position in shares of Fabrinet by 59.1% during the 3rd quarter. CWM LLC now owns 845 shares of the technology company’s stock valued at $200,000 after acquiring an additional 314 shares during the period. Creative Planning lifted its position in shares of Fabrinet by 22.0% during the 3rd quarter. Creative Planning now owns 13,455 shares of the technology company’s stock valued at $3,181,000 after acquiring an additional 2,422 shares during the period. Blue Trust Inc. raised its holdings in shares of Fabrinet by 249.2% during the 3rd quarter. Blue Trust Inc. now owns 426 shares of the technology company’s stock worth $104,000 after buying an additional 304 shares in the last quarter. Raymond James & Associates raised its holdings in shares of Fabrinet by 8.5% during the 3rd quarter. Raymond James & Associates now owns 21,746 shares of the technology company’s stock worth $5,142,000 after buying an additional 1,708 shares in the last quarter. Finally, Eastern Bank acquired a new position in shares of Fabrinet during the 3rd quarter worth $59,000. 97.38% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Rosenblatt Securities boosted their price target on Fabrinet from $280.00 to $285.00 and gave the stock a “buy” rating in a report on Tuesday, February 4th. Needham & Company LLC reissued a “buy” rating and set a $280.00 price target on shares of Fabrinet in a report on Tuesday, February 4th. Fox Advisors assumed coverage on Fabrinet in a report on Tuesday. They set an “overweight” rating and a $270.00 price target for the company. B. Riley cut Fabrinet from a “neutral” rating to a “sell” rating and lowered their price target for the stock from $194.00 to $178.00 in a report on Wednesday, November 20th. Finally, 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. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $246.63.

Fabrinet Stock Down 0.8 %

Shares of FN opened at $238.79 on Thursday. Fabrinet has a 12-month low of $159.69 and a 12-month high of $281.79. The business has a 50-day simple moving average of $227.06 and a two-hundred day simple moving average of $233.89. The stock has a market cap of $8.66 billion, a PE ratio of 26.71 and a beta of 0.92.

Fabrinet (NYSE:FN) last issued its earnings results 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 return on equity of 18.48% and a net margin of 10.44%. On average, equities research analysts expect that Fabrinet will post 9.4 EPS for the current 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.