Fabrinet (NYSE:FN) Position Lessened by American Century Companies Inc.

American Century Companies Inc. lowered its position in Fabrinet (NYSE:FN) by 3.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,727 shares of the technology company’s stock after selling 776 shares during the quarter. American Century Companies Inc. owned approximately 0.06% of Fabrinet worth $4,557,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of FN. Cerity Partners LLC increased its stake in shares of Fabrinet by 41.4% during the 3rd quarter. Cerity Partners LLC now owns 2,144 shares of the technology company’s stock worth $507,000 after purchasing an additional 628 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Fabrinet by 85.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 64,492 shares of the technology company’s stock worth $15,248,000 after buying an additional 29,639 shares during the last quarter. Captrust Financial Advisors raised its holdings in Fabrinet by 23.5% during the third quarter. Captrust Financial Advisors now owns 1,060 shares of the technology company’s stock valued at $251,000 after buying an additional 202 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Fabrinet in the third quarter worth about $52,000. Finally, Benjamin Edwards Inc. boosted its stake in shares of Fabrinet by 34.6% during the 3rd quarter. Benjamin Edwards Inc. now owns 2,656 shares of the technology company’s stock worth $628,000 after acquiring an additional 683 shares in the last quarter. 97.38% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

FN has been the topic of a number of recent analyst reports. Barclays cut their price objective on Fabrinet from $292.00 to $245.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 4th. Fox Advisors assumed coverage on shares of Fabrinet in a research report on Tuesday, February 18th. They issued an “overweight” rating and a $270.00 price target on the stock. B. Riley raised shares of Fabrinet from a “sell” rating to a “neutral” rating and decreased their price objective for the stock from $178.00 to $176.00 in a report on Friday. JPMorgan Chase & Co. dropped their target price on shares of Fabrinet from $275.00 to $265.00 and set a “neutral” rating on the stock in a report on Tuesday, February 4th. Finally, Needham & Company LLC reissued a “buy” rating and set a $280.00 target price on shares of Fabrinet in a research report on Monday, March 17th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $250.14.

Fabrinet Trading Down 0.8 %

NYSE FN opened at $171.11 on Friday. Fabrinet has a 1-year low of $148.55 and a 1-year high of $281.79. The company has a market capitalization of $6.21 billion, a price-to-earnings ratio of 19.14 and a beta of 0.89. The stock’s 50 day moving average is $209.73 and its two-hundred day moving average is $228.93.

Fabrinet (NYSE:FN) last posted its earnings results 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 return on equity of 18.48% and a net margin of 10.44%. On average, analysts predict 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.