Janney Montgomery Scott LLC Has $721,000 Stock Position in Fabrinet (NYSE:FN)

Janney Montgomery Scott LLC increased its holdings in Fabrinet (NYSE:FN) by 2.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,279 shares of the technology company’s stock after acquiring an additional 82 shares during the period. Janney Montgomery Scott LLC’s holdings in Fabrinet were worth $721,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Huntington National Bank lifted its stake in Fabrinet by 70.4% during 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 in the last quarter. NBC Securities Inc. increased its stake in Fabrinet by 732.0% in the 3rd quarter. NBC Securities Inc. now owns 208 shares of the technology company’s stock valued at $49,000 after buying an additional 183 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Fabrinet in the 3rd quarter worth approximately $52,000. UMB Bank n.a. boosted its stake in shares of Fabrinet by 252.9% in the 3rd quarter. UMB Bank n.a. now owns 240 shares of the technology company’s stock worth $57,000 after buying an additional 172 shares during the last quarter. Finally, Eastern Bank bought a new stake in shares of Fabrinet during the 3rd quarter worth $59,000. 97.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Rosenblatt Securities increased their price target on shares of Fabrinet from $280.00 to $285.00 and gave the company a “buy” rating in a research report on Tuesday. JPMorgan Chase & Co. reduced their target price on shares of Fabrinet from $275.00 to $265.00 and set a “neutral” rating for the company in a research note on Tuesday. Needham & Company LLC reissued a “buy” rating and issued a $280.00 price target on shares of Fabrinet in a report on Tuesday. Barclays decreased their target price on shares of Fabrinet from $292.00 to $245.00 and set an “equal weight” rating on the stock in a report on Tuesday. Finally, B. Riley lowered shares of Fabrinet from a “neutral” rating to a “sell” rating and reduced their price target for the company 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 given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $243.29.

Fabrinet Stock Performance

NYSE FN opened at $212.43 on Friday. The company has a market capitalization of $7.70 billion, a P/E ratio of 25.14 and a beta of 0.92. Fabrinet has a 52-week low of $159.69 and a 52-week high of $281.79. The company has a fifty day moving average of $230.11 and a 200-day moving average of $233.94.

Fabrinet (NYSE:FN) last announced its quarterly earnings data 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 10.28% and a return on equity of 18.08%. As a group, analysts forecast that Fabrinet will post 9.1 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.