Handelsbanken Fonder AB Has $2.39 Million Stake in Fabrinet (NYSE:FN)

Handelsbanken Fonder AB grew its holdings in Fabrinet (NYSE:FN) by 21.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,866 shares of the technology company’s stock after purchasing an additional 1,900 shares during the period. Handelsbanken Fonder AB’s holdings in Fabrinet were worth $2,389,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Huntington National Bank grew its stake 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 buying an additional 57 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Fabrinet in the 3rd quarter valued at approximately $52,000. Public Employees Retirement System of Ohio bought a new stake in shares of Fabrinet in the 3rd quarter valued at approximately $61,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Fabrinet in the 3rd quarter valued at approximately $70,000. Finally, Blue Trust Inc. grew its stake in shares of Fabrinet by 249.2% in the 3rd quarter. Blue Trust Inc. now owns 426 shares of the technology company’s stock valued at $104,000 after buying an additional 304 shares in the last quarter. Institutional investors own 97.38% of the company’s stock.

Fabrinet Trading Down 3.1 %

FN opened at $215.05 on Tuesday. Fabrinet has a 1-year low of $159.69 and a 1-year high of $281.79. The stock has a market capitalization of $7.80 billion, a price-to-earnings ratio of 24.05 and a beta of 0.92. The business has a 50 day moving average of $226.21 and a 200-day moving average of $234.63.

Fabrinet (NYSE:FN) last posted 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 net margin of 10.44% and a return on equity of 18.48%. Equities analysts predict that Fabrinet will post 9.4 EPS for the current year.

Analyst Ratings Changes

FN has been the subject of several recent research reports. Needham & Company LLC reissued a “buy” rating and issued a $280.00 price target on shares of Fabrinet in a research note on Tuesday, February 4th. Rosenblatt Securities upped their target price 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 Fabrinet from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $194.00 to $178.00 in a research report on Wednesday, November 20th. Barclays decreased their target price 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. Finally, Fox Advisors began coverage on Fabrinet in a research report on Tuesday, February 18th. They set an “overweight” rating and a $270.00 target price for the company. One 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 MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $246.63.

Fabrinet 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.