Assetmark Inc. Has $106,000 Stock Holdings in Fabrinet (NYSE:FN)

Assetmark Inc. raised its stake in shares of Fabrinet (NYSE:FN) by 12.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 484 shares of the technology company’s stock after purchasing an additional 52 shares during the period. Assetmark Inc.’s holdings in Fabrinet were worth $106,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Cynosure Group LLC lifted its position in Fabrinet by 3.4% in the third quarter. Cynosure Group LLC now owns 1,560 shares of the technology company’s stock worth $369,000 after purchasing an additional 51 shares during the period. Huntington National Bank lifted its holdings in shares of Fabrinet by 70.4% during the third quarter. Huntington National Bank now owns 138 shares of the technology company’s stock valued at $33,000 after acquiring an additional 57 shares during the period. CIBC Asset Management Inc lifted its holdings in shares of Fabrinet by 5.7% during the fourth quarter. CIBC Asset Management Inc now owns 1,113 shares of the technology company’s stock valued at $245,000 after acquiring an additional 60 shares during the period. Nations Financial Group Inc. IA ADV lifted its holdings in shares of Fabrinet by 2.4% during the fourth quarter. Nations Financial Group Inc. IA ADV now owns 2,941 shares of the technology company’s stock valued at $647,000 after acquiring an additional 68 shares during the period. Finally, Janney Montgomery Scott LLC lifted its holdings in shares of Fabrinet by 2.6% during the fourth quarter. Janney Montgomery Scott LLC now owns 3,279 shares of the technology company’s stock valued at $721,000 after acquiring an additional 82 shares during the period. Institutional investors and hedge funds own 97.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Barclays cut their price target on Fabrinet from $292.00 to $245.00 and set an “equal weight” rating for the company in a report on Tuesday, February 4th. Fox Advisors assumed coverage on Fabrinet in a report on Tuesday, February 18th. They issued an “overweight” rating and a $270.00 price target for the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $280.00 price target on shares of Fabrinet in a report on Tuesday, February 4th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $285.00 price target on shares of Fabrinet in a report on Friday. Finally, B. Riley cut Fabrinet from a “neutral” rating to a “sell” rating and cut their price target for the company from $194.00 to $178.00 in a report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $246.63.

Fabrinet Stock Down 1.3 %

Fabrinet stock opened at $220.85 on Friday. Fabrinet has a 12-month low of $159.69 and a 12-month high of $281.79. The business’s 50-day moving average price is $219.44 and its two-hundred day moving average price is $230.99. The stock has a market cap of $8.01 billion, a PE ratio of 24.70 and a beta of 0.89.

Fabrinet (NYSE:FN) last announced its quarterly earnings results on Monday, February 3rd. The technology company reported $2.38 EPS for the quarter, missing analysts’ consensus estimates 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, analysts expect that Fabrinet will post 9.4 earnings per share for the current 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.