Blue Trust Inc. Increases Stock Position in Fabrinet (NYSE:FN)

Blue Trust Inc. lifted its holdings in shares of Fabrinet (NYSE:FN) by 35.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 577 shares of the technology company’s stock after purchasing an additional 151 shares during the period. Blue Trust Inc.’s holdings in Fabrinet were worth $136,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Legacy Wealth Asset Management LLC boosted its stake in shares of Fabrinet by 3.2% during the 3rd quarter. Legacy Wealth Asset Management LLC now owns 1,375 shares of the technology company’s stock worth $325,000 after purchasing an additional 43 shares during the last quarter. Wolff Wiese Magana LLC boosted its position in Fabrinet by 2.7% during the third quarter. Wolff Wiese Magana LLC now owns 1,765 shares of the technology company’s stock worth $417,000 after acquiring an additional 47 shares during the last quarter. Cynosure Group LLC boosted its position in Fabrinet by 3.4% during the third quarter. Cynosure Group LLC now owns 1,560 shares of the technology company’s stock worth $369,000 after acquiring an additional 51 shares during the last quarter. Trust Point Inc. grew its stake in Fabrinet by 4.7% in the 3rd quarter. Trust Point Inc. now owns 1,272 shares of the technology company’s stock worth $301,000 after acquiring an additional 57 shares during the period. Finally, Huntington National Bank raised its holdings in Fabrinet by 70.4% in the 3rd quarter. Huntington National Bank now owns 138 shares of the technology company’s stock valued at $33,000 after acquiring an additional 57 shares during the last quarter. 97.38% of the stock is currently owned by institutional investors and hedge funds.

Fabrinet Trading Up 3.4 %

Shares of Fabrinet stock opened at $214.08 on Thursday. Fabrinet has a twelve month low of $159.69 and a twelve month high of $281.79. The stock has a market cap of $7.76 billion, a price-to-earnings ratio of 25.33 and a beta of 0.92. The company has a fifty day moving average price of $230.44 and a 200 day moving average price of $234.17.

Fabrinet (NYSE:FN) last issued its 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 return on equity of 18.08% and a net margin of 10.28%. Analysts forecast that Fabrinet will post 9.1 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Needham & Company LLC reissued a “buy” rating and issued a $280.00 price target on shares of Fabrinet in a research note on Tuesday. B. Riley lowered shares of Fabrinet from a “neutral” rating to a “sell” rating and cut their price objective for the stock from $194.00 to $178.00 in a report on Wednesday, November 20th. Barclays lowered their target price on shares of Fabrinet from $292.00 to $245.00 and set an “equal weight” rating for the company in a report on Tuesday. JPMorgan Chase & Co. cut their price target on shares of Fabrinet from $275.00 to $265.00 and set a “neutral” rating on the stock in a research note on Tuesday. Finally, Rosenblatt Securities boosted their price objective on shares of Fabrinet from $280.00 to $285.00 and gave the company a “buy” rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $243.29.

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.