American Century Companies Inc. Sells 776 Shares of Fabrinet (NYSE:FN)

American Century Companies Inc. decreased its holdings in Fabrinet (NYSE:FN) by 3.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 20,727 shares of the technology company’s stock after selling 776 shares during the quarter. American Century Companies Inc.’s holdings in Fabrinet were worth $4,557,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of FN. Wedge Capital Management L L P NC bought a new stake in shares of Fabrinet during the fourth quarter valued at approximately $63,222,000. Stephens Investment Management Group LLC acquired a new position in Fabrinet during the 4th quarter worth $28,218,000. Raymond James Financial Inc. bought a new position in Fabrinet in the 4th quarter valued at $24,844,000. World Investment Advisors LLC acquired a new stake in shares of Fabrinet in the 3rd quarter valued at $20,187,000. Finally, Vaughan Nelson Investment Management L.P. increased its stake in shares of Fabrinet by 34.9% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 306,570 shares of the technology company’s stock valued at $67,408,000 after buying an additional 79,265 shares during the period. Institutional investors and hedge funds own 97.38% of the company’s stock.

Wall Street Analyst Weigh In

FN has been the topic of several research reports. B. Riley raised Fabrinet from a “sell” rating to a “neutral” rating and cut their price target for the company from $178.00 to $176.00 in a research note on Friday. Fox Advisors began coverage on shares of Fabrinet in a research report on Tuesday, February 18th. They set an “overweight” rating and a $270.00 target price on the stock. JPMorgan Chase & Co. reduced their target price 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. Needham & Company LLC reissued a “buy” rating and set a $280.00 price target on shares of Fabrinet in a research note on Monday, March 17th. Finally, 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. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Fabrinet has an average rating of “Hold” and a consensus target price of $250.14.

Fabrinet Trading Down 0.8 %

Fabrinet stock opened at $171.11 on Friday. The firm has a market capitalization of $6.21 billion, a P/E ratio of 19.14 and a beta of 0.89. The business has a 50-day moving average of $209.73 and a 200-day moving average of $228.93. Fabrinet has a 1 year low of $148.55 and a 1 year high of $281.79.

Fabrinet (NYSE:FN) last issued its quarterly earnings data 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 net margin of 10.44% and a return on equity of 18.48%. Research analysts anticipate that Fabrinet will post 9.4 EPS for the current fiscal 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.