IFP Advisors Inc Purchases 242 Shares of Fabrinet (NYSE:FN)

IFP Advisors Inc grew its position in Fabrinet (NYSE:FN) by 576.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 284 shares of the technology company’s stock after acquiring an additional 242 shares during the period. IFP Advisors Inc’s holdings in Fabrinet were worth $63,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of FN. Wealth Enhancement Advisory Services LLC grew its position in shares of Fabrinet by 13.8% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 4,003 shares of the technology company’s stock valued at $946,000 after acquiring an additional 484 shares during the period. Farther Finance Advisors LLC grew its position in shares of Fabrinet by 13.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 860 shares of the technology company’s stock valued at $203,000 after acquiring an additional 101 shares during the period. Van ECK Associates Corp grew its position in shares of Fabrinet by 40.0% in the 3rd quarter. Van ECK Associates Corp now owns 23,554 shares of the technology company’s stock valued at $5,810,000 after acquiring an additional 6,731 shares during the period. QRG Capital Management Inc. grew its position in shares of Fabrinet by 3.8% in the 3rd quarter. QRG Capital Management Inc. now owns 3,607 shares of the technology company’s stock valued at $853,000 after acquiring an additional 133 shares during the period. Finally, Moloney Securities Asset Management LLC grew its position in shares of Fabrinet by 49.5% in the 3rd quarter. Moloney Securities Asset Management LLC now owns 1,644 shares of the technology company’s stock valued at $389,000 after acquiring an additional 544 shares during the period. Institutional investors own 97.38% of the company’s stock.

Analysts Set New Price Targets

FN has been the subject of a number of analyst reports. B. Riley downgraded shares of Fabrinet from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $194.00 to $178.00 in a research report on Wednesday, November 20th. Needham & Company LLC restated a “buy” rating and set a $280.00 target price on shares of Fabrinet in a research note on Tuesday, February 4th. Rosenblatt Securities raised their target price 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 cut their target price on shares of Fabrinet from $292.00 to $245.00 and set an “equal weight” rating for the company 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 target price for the company. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $246.63.

Fabrinet Stock Up 4.1 %

Shares of Fabrinet stock opened at $198.15 on Thursday. Fabrinet has a twelve month low of $159.69 and a twelve month high of $281.79. The company has a 50-day simple moving average of $222.19 and a two-hundred day simple moving average of $233.60. The stock has a market capitalization of $7.19 billion, a price-to-earnings ratio of 22.16 and a beta of 0.92.

Fabrinet (NYSE:FN) last issued its quarterly earnings data 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 18.48% and a net margin of 10.44%. On average, sell-side analysts anticipate that Fabrinet will post 9.4 earnings per share for the current fiscal year.

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.