New York State Teachers Retirement System Has $5.87 Million Stock Holdings in Fabrinet (NYSE:FN)

New York State Teachers Retirement System lessened its position in Fabrinet (NYSE:FN) by 1.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 26,684 shares of the technology company’s stock after selling 300 shares during the quarter. New York State Teachers Retirement System owned approximately 0.07% of Fabrinet worth $5,867,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of FN. Huntington National Bank increased its position in shares of 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 purchasing an additional 57 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Fabrinet during the 3rd quarter worth approximately $52,000. Eastern Bank acquired a new position in shares of Fabrinet during the 3rd quarter worth approximately $59,000. Public Employees Retirement System of Ohio acquired a new position in shares of Fabrinet during the 3rd quarter worth approximately $61,000. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of Fabrinet during the 3rd quarter worth approximately $70,000. 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 recent analyst reports. JPMorgan Chase & Co. lowered their price target on Fabrinet from $275.00 to $265.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 4th. Fox Advisors assumed coverage on Fabrinet in a research report on Tuesday. They set an “overweight” rating and a $270.00 price target on the stock. Rosenblatt Securities lifted their target price on Fabrinet from $280.00 to $285.00 and gave the stock a “buy” rating in a research note on Tuesday, February 4th. B. Riley downgraded Fabrinet from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $194.00 to $178.00 in a research note on Wednesday, November 20th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $280.00 target price on shares of Fabrinet in a research note on Tuesday, February 4th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $246.63.

Fabrinet Price Performance

FN opened at $238.79 on Thursday. The business has a fifty day simple moving average of $227.06 and a 200 day simple moving average of $233.89. The company has a market capitalization of $8.66 billion, a PE ratio of 26.71 and a beta of 0.92. Fabrinet has a 1 year low of $159.69 and a 1 year high of $281.79.

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