Rhumbline Advisers Purchases 2,440 Shares of Fabrinet (NYSE:FN)

Rhumbline Advisers grew its position in Fabrinet (NYSE:FN) by 2.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 111,934 shares of the technology company’s stock after acquiring an additional 2,440 shares during the period. Rhumbline Advisers owned 0.31% of Fabrinet worth $24,612,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the company. Legacy Wealth Asset Management LLC lifted its stake in shares of Fabrinet by 3.2% in the 3rd quarter. Legacy Wealth Asset Management LLC now owns 1,375 shares of the technology company’s stock valued at $325,000 after acquiring an additional 43 shares during the last quarter. Cynosure Group LLC increased its holdings in Fabrinet by 3.4% in the third quarter. Cynosure Group LLC now owns 1,560 shares of the technology company’s stock valued at $369,000 after purchasing an additional 51 shares during the period. Huntington National Bank increased its holdings in Fabrinet by 70.4% in the third quarter. Huntington National Bank now owns 138 shares of the technology company’s stock valued at $33,000 after purchasing an additional 57 shares during the period. Ausbil Investment Management Ltd increased its holdings in Fabrinet by 0.5% in the third quarter. Ausbil Investment Management Ltd now owns 14,741 shares of the technology company’s stock valued at $3,485,000 after purchasing an additional 76 shares during the period. Finally, Janney Montgomery Scott LLC increased its holdings in Fabrinet by 2.6% in the fourth quarter. Janney Montgomery Scott LLC now owns 3,279 shares of the technology company’s stock valued at $721,000 after purchasing an additional 82 shares during the period. 97.38% of the stock is currently owned by institutional investors.

Fabrinet Trading Down 0.8 %

Shares of Fabrinet stock opened at $238.79 on Thursday. The business has a 50-day moving average price of $227.06 and a two-hundred day moving average price of $233.89. The company has a market cap of $8.66 billion, a P/E ratio of 26.71 and a beta of 0.92. Fabrinet has a 1-year low of $159.69 and a 1-year high of $281.79.

Fabrinet (NYSE:FN) last issued its 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 net margin of 10.44% and a return on equity of 18.48%. Equities research analysts forecast that Fabrinet will post 9.4 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. B. Riley downgraded Fabrinet from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $194.00 to $178.00 in a report on Wednesday, November 20th. JPMorgan Chase & Co. decreased their price objective on Fabrinet from $275.00 to $265.00 and set a “neutral” rating for the company in a report on Tuesday, February 4th. Barclays decreased their price objective on Fabrinet from $292.00 to $245.00 and set an “equal weight” rating for the company in a report on Tuesday, February 4th. Needham & Company LLC restated a “buy” rating and issued a $280.00 price objective on shares of Fabrinet in a report on Tuesday, February 4th. Finally, Rosenblatt Securities increased 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. One equities 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 MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $246.63.

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.