US Bancorp DE Has $1.60 Million Position in Fabrinet (NYSE:FN)

US Bancorp DE reduced its stake in shares of Fabrinet (NYSE:FN) by 42.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,275 shares of the technology company’s stock after selling 5,401 shares during the quarter. US Bancorp DE’s holdings in Fabrinet were worth $1,600,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of FN. Huntington National Bank grew its position in shares of Fabrinet by 70.4% in the 3rd 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. acquired a new position in shares of Fabrinet in the 3rd quarter valued at approximately $52,000. Public Employees Retirement System of Ohio acquired a new position in shares of Fabrinet in the 3rd quarter valued at approximately $61,000. IFP Advisors Inc grew its position in shares of Fabrinet by 576.2% in the 4th quarter. IFP Advisors Inc now owns 284 shares of the technology company’s stock valued at $63,000 after purchasing an additional 242 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of Fabrinet in the 3rd quarter valued at approximately $70,000. 97.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently issued reports on FN. Rosenblatt Securities upped their price target on Fabrinet from $280.00 to $285.00 and gave the stock a “buy” rating in a research report on Tuesday, February 4th. B. Riley cut shares of Fabrinet from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $194.00 to $178.00 in a research note on Wednesday, November 20th. Needham & Company LLC reaffirmed a “buy” rating and set a $280.00 price target on shares of Fabrinet in a research note on Tuesday, February 4th. Fox Advisors started coverage on shares of Fabrinet in a research note on Tuesday, February 18th. They set an “overweight” rating and a $270.00 price target for the company. Finally, Barclays decreased their price target 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. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $246.63.

Fabrinet Trading Up 5.9 %

NYSE FN opened at $194.45 on Friday. The company has a market cap of $7.05 billion, a PE ratio of 21.75 and a beta of 0.89. Fabrinet has a 12 month low of $159.69 and a 12 month high of $281.79. The stock has a 50 day moving average of $220.89 and a 200-day moving average of $232.76.

Fabrinet (NYSE:FN) last released 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 10.44% and a return on equity of 18.48%. As a group, sell-side analysts predict that Fabrinet will post 9.4 EPS 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.