Sanctuary Advisors LLC Decreases Stock Holdings in Fabrinet (NYSE:FN)

Sanctuary Advisors LLC cut its position in Fabrinet (NYSE:FN) by 28.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,742 shares of the technology company’s stock after selling 698 shares during the quarter. Sanctuary Advisors LLC’s holdings in Fabrinet were worth $371,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in FN. Huntington National Bank boosted its stake in shares of Fabrinet by 70.4% in the third quarter. Huntington National Bank now owns 138 shares of the technology company’s stock valued at $33,000 after purchasing an additional 57 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Fabrinet in the third quarter valued at $52,000. Public Employees Retirement System of Ohio purchased a new position in shares of Fabrinet in the third quarter valued at $61,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Fabrinet in the third quarter valued at $70,000. Finally, Assetmark Inc. boosted its stake in Fabrinet by 468.4% during the 3rd quarter. Assetmark Inc. now owns 432 shares of the technology company’s stock valued at $102,000 after acquiring an additional 356 shares during the last quarter. 97.38% of the stock is currently owned by hedge funds and other institutional investors.

Fabrinet Stock Performance

Shares of NYSE:FN opened at $189.94 on Tuesday. The stock has a market capitalization of $6.89 billion, a price-to-earnings ratio of 21.25 and a beta of 0.92. Fabrinet has a 1-year low of $159.69 and a 1-year high of $281.79. The company’s fifty day moving average is $223.28 and its two-hundred day moving average is $234.14.

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 analysts’ consensus estimates of $2.48 by ($0.10). Fabrinet had a return on equity of 18.48% and a net margin of 10.44%. Sell-side analysts expect that Fabrinet will post 9.4 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

FN has been the topic of a number of research analyst reports. JPMorgan Chase & Co. reduced their price objective 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. 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. Needham & Company LLC reiterated a “buy” rating and set a $280.00 price objective 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 company a “buy” rating in a research note on Tuesday, February 4th. Finally, Fox Advisors initiated coverage on shares of Fabrinet in a research note on Tuesday, February 18th. They set an “overweight” rating and a $270.00 price objective on the stock. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $246.63.

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.