Louisiana State Employees Retirement System Purchases 100 Shares of Fabrinet (NYSE:FN)

Louisiana State Employees Retirement System raised its position in Fabrinet (NYSE:FN) by 1.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 10,100 shares of the technology company’s stock after acquiring an additional 100 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Fabrinet were worth $2,221,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of FN. CWM LLC lifted its holdings in Fabrinet by 59.1% in the third quarter. CWM LLC now owns 845 shares of the technology company’s stock valued at $200,000 after acquiring an additional 314 shares during the period. Creative Planning lifted its holdings in Fabrinet by 22.0% in the third quarter. Creative Planning now owns 13,455 shares of the technology company’s stock valued at $3,181,000 after acquiring an additional 2,422 shares during the period. NBC Securities Inc. lifted its holdings in Fabrinet by 732.0% in the third quarter. NBC Securities Inc. now owns 208 shares of the technology company’s stock valued at $49,000 after acquiring an additional 183 shares during the period. nVerses Capital LLC bought a new position in Fabrinet in the third quarter valued at about $567,000. Finally, Trust Point Inc. lifted its holdings in Fabrinet by 4.7% in the third quarter. Trust Point Inc. now owns 1,272 shares of the technology company’s stock valued at $301,000 after acquiring an additional 57 shares during the period. Institutional investors own 97.38% of the company’s stock.

Analyst Ratings Changes

FN has been the subject of a number of analyst reports. JPMorgan Chase & Co. reduced their price target on Fabrinet from $275.00 to $265.00 and set a “neutral” rating for the company in a research report on Tuesday, February 4th. 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. Barclays reduced their price target on Fabrinet from $292.00 to $245.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 4th. B. Riley cut Fabrinet from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $194.00 to $178.00 in a research report on Wednesday, November 20th. Finally, Needham & Company LLC restated a “buy” rating and issued a $280.00 price target on shares of Fabrinet in a research report on Tuesday, February 4th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $243.29.

Fabrinet Trading Up 4.3 %

NYSE:FN opened at $223.29 on Friday. 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 price of $227.62 and a 200 day moving average price of $233.30. The stock has a market capitalization of $8.10 billion, a P/E ratio of 24.98 and a beta of 0.92.

Fabrinet (NYSE:FN) last released its earnings results on Monday, February 3rd. The technology company reported $2.38 earnings per share (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, research analysts predict that Fabrinet will post 9.4 earnings per share 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.