Fabrinet (NYSE:FN) Shares Acquired by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lifted its holdings in shares of Fabrinet (NYSE:FN) by 12.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,678 shares of the technology company’s stock after acquiring an additional 418 shares during the period. PNC Financial Services Group Inc.’s holdings in Fabrinet were worth $809,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Huntington National Bank grew its stake in Fabrinet by 70.4% during the 3rd quarter. Huntington National Bank now owns 138 shares of the technology company’s stock worth $33,000 after buying an additional 57 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Fabrinet in the 3rd quarter valued at approximately $52,000. Public Employees Retirement System of Ohio acquired a new position in shares of Fabrinet in the third quarter valued at approximately $61,000. IFP Advisors Inc raised its position in Fabrinet by 576.2% during the 4th quarter. IFP Advisors Inc now owns 284 shares of the technology company’s stock worth $63,000 after buying an additional 242 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of Fabrinet in the third quarter valued at about $70,000. Hedge funds and other institutional investors own 97.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. JPMorgan Chase & Co. reduced their target price 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 target price 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. Needham & Company LLC reaffirmed a “buy” rating and set a $280.00 price target on shares of Fabrinet in a research note on Monday. B. Riley cut shares of Fabrinet from a “neutral” rating to a “sell” rating and lowered their price objective for the company from $194.00 to $178.00 in a research note on Wednesday, November 20th. Finally, Rosenblatt Securities restated a “buy” rating and set a $285.00 target price on shares of Fabrinet in a research report on Friday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Fabrinet currently has a consensus rating of “Hold” and a consensus price target of $246.63.

Fabrinet Price Performance

Shares of NYSE FN opened at $221.13 on Tuesday. The company has a 50-day simple moving average of $219.21 and a 200-day simple moving average of $230.63. The company has a market cap of $8.02 billion, a PE ratio of 24.74 and a beta of 0.89. Fabrinet has a 12 month low of $159.69 and a 12 month high of $281.79.

Fabrinet (NYSE:FN) last issued its quarterly earnings results on Monday, February 3rd. The technology company reported $2.38 earnings per share 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%. On average, analysts anticipate that Fabrinet will post 9.4 EPS for the current year.

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.