Fabrinet (NYSE:FN) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D reduced its holdings in shares of Fabrinet (NYSE:FN) by 1.8% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 13,641 shares of the technology company’s stock after selling 244 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Fabrinet were worth $2,999,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of FN. Huntington National Bank boosted its stake in shares of 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. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Fabrinet in the third quarter valued at $52,000. Eastern Bank purchased a new position in shares of Fabrinet in the third quarter valued at $59,000. Public Employees Retirement System of Ohio purchased a new position in shares of Fabrinet in the third quarter valued at $61,000. Finally, Wilmington Savings Fund Society FSB bought a new position in Fabrinet during the 3rd quarter valued at $70,000. 97.38% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on FN. Barclays reduced their price objective on shares of Fabrinet from $292.00 to $245.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 4th. Needham & Company LLC reiterated a “buy” rating and set a $280.00 price objective on shares of Fabrinet in a research note on Tuesday, February 4th. JPMorgan Chase & Co. reduced their price objective on shares of Fabrinet from $275.00 to $265.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 4th. B. Riley cut shares of Fabrinet from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $194.00 to $178.00 in a report on Wednesday, November 20th. Finally, Rosenblatt Securities increased their target price on shares of 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 assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $246.63.

Fabrinet Stock Down 3.6 %

FN stock opened at $230.46 on Friday. Fabrinet has a fifty-two week low of $159.69 and a fifty-two week high of $281.79. The firm’s 50-day simple moving average is $227.03 and its 200 day simple moving average is $233.93. The stock has a market cap of $8.36 billion, a PE ratio of 25.78 and a beta of 0.92.

Fabrinet (NYSE:FN) last released 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 analysts forecast that Fabrinet will post 9.4 EPS for the current fiscal year.

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.