Kestra Private Wealth Services LLC Grows Holdings in Fabrinet (NYSE:FN)

Kestra Private Wealth Services LLC boosted its holdings in shares of Fabrinet (NYSE:FN) by 72.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,450 shares of the technology company’s stock after acquiring an additional 1,031 shares during the period. Kestra Private Wealth Services LLC’s holdings in Fabrinet were worth $539,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of FN. 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. NBC Securities Inc. boosted its stake in Fabrinet by 732.0% in the 3rd quarter. NBC Securities Inc. now owns 208 shares of the technology company’s stock worth $49,000 after purchasing an additional 183 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Fabrinet during the 3rd quarter worth approximately $52,000. Eastern Bank acquired a new position in Fabrinet during the 3rd quarter valued at approximately $59,000. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of Fabrinet during the third quarter worth $61,000. 97.38% of the stock is owned by hedge funds and other institutional investors.

Fabrinet Stock Up 4.3 %

Shares of FN opened at $223.29 on Friday. Fabrinet has a fifty-two week low of $159.69 and a fifty-two week high of $281.79. The company has a market cap of $8.10 billion, a P/E ratio of 24.98 and a beta of 0.92. The firm’s 50 day moving average price is $227.23 and its 200 day moving average price is $233.48.

Fabrinet (NYSE:FN) last posted its quarterly earnings results 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 return on equity of 18.48% and a net margin of 10.44%. Research analysts forecast that Fabrinet will post 9.4 earnings per share for the current year.

Wall Street Analyst Weigh In

FN has been the topic of several research analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $280.00 price target on shares of Fabrinet in a research note on Tuesday, February 4th. Rosenblatt Securities increased their price objective on shares of Fabrinet from $280.00 to $285.00 and gave the stock a “buy” rating in a research note on Tuesday, February 4th. Barclays lowered their price target on shares of Fabrinet from $292.00 to $245.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 4th. JPMorgan Chase & Co. reduced their price objective on Fabrinet from $275.00 to $265.00 and set a “neutral” rating for the company in a research note on Tuesday, February 4th. Finally, B. Riley downgraded Fabrinet from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $194.00 to $178.00 in a research note on Wednesday, November 20th. One 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’s stock. According to data from MarketBeat.com, the stock presently has an average 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.