Principal Financial Group Inc. Sells 8,320 Shares of Fabrinet (NYSE:FN)

Principal Financial Group Inc. decreased its position in Fabrinet (NYSE:FNFree Report) by 3.7% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 218,980 shares of the technology company’s stock after selling 8,320 shares during the period. Principal Financial Group Inc. owned about 0.60% of Fabrinet worth $48,149,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of FN. Creative Planning lifted its stake in Fabrinet by 22.0% in 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 in the last quarter. Blue Trust Inc. lifted its stake in Fabrinet by 249.2% in the 3rd quarter. Blue Trust Inc. now owns 426 shares of the technology company’s stock valued at $104,000 after acquiring an additional 304 shares in the last quarter. Raymond James & Associates lifted its stake in Fabrinet by 8.5% in the 3rd quarter. Raymond James & Associates now owns 21,746 shares of the technology company’s stock valued at $5,142,000 after acquiring an additional 1,708 shares in the last quarter. Eastern Bank bought a new stake in Fabrinet in the 3rd quarter valued at approximately $59,000. Finally, Hennion & Walsh Asset Management Inc. lifted its stake in Fabrinet by 34.2% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 5,621 shares of the technology company’s stock valued at $1,329,000 after acquiring an additional 1,431 shares in the last quarter. Institutional investors own 97.38% of the company’s stock.

Fabrinet Trading Down 3.6 %

FN stock opened at $230.46 on Friday. The firm has a market capitalization of $8.36 billion, a PE ratio of 25.78 and a beta of 0.92. Fabrinet has a 1-year low of $159.69 and a 1-year high of $281.79. The business’s 50 day simple moving average is $227.03 and its 200 day simple moving average is $233.93.

Fabrinet (NYSE:FNGet Free Report) last posted its earnings results on Monday, February 3rd. The technology company reported $2.38 earnings per share 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%. As a group, sell-side analysts predict that Fabrinet will post 9.4 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on FN. Fox Advisors began coverage on Fabrinet in a research report on Tuesday. They set an “overweight” rating and a $270.00 price target on the stock. Rosenblatt Securities boosted their price target on Fabrinet from $280.00 to $285.00 and gave the stock a “buy” rating in a research report on Tuesday, February 4th. Barclays lowered their price target on Fabrinet from $292.00 to $245.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 4th. JPMorgan Chase & Co. lowered their price target on Fabrinet from $275.00 to $265.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 4th. Finally, B. Riley lowered 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 research report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $246.63.

Get Our Latest Stock Report on FN

Fabrinet Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Fabrinet (NYSE:FN)

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