Great Lakes Advisors LLC Sells 1,968 Shares of Fabrinet (NYSE:FN)

Great Lakes Advisors LLC cut its position in Fabrinet (NYSE:FN) by 23.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,558 shares of the technology company’s stock after selling 1,968 shares during the quarter. Great Lakes Advisors LLC’s holdings in Fabrinet were worth $1,442,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in FN. Huntington National Bank raised its stake in 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 acquiring an additional 57 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Fabrinet in the third quarter worth about $52,000. Public Employees Retirement System of Ohio bought a new stake in shares of Fabrinet in the third quarter valued at approximately $61,000. IFP Advisors Inc lifted its stake in shares of Fabrinet by 576.2% during the 4th quarter. IFP Advisors Inc now owns 284 shares of the technology company’s stock valued at $63,000 after buying an additional 242 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new position in Fabrinet in the 3rd quarter worth approximately $70,000. Hedge funds and other institutional investors own 97.38% of the company’s stock.

Fabrinet Stock Performance

NYSE:FN opened at $220.85 on Friday. The firm has a market capitalization of $8.01 billion, a price-to-earnings ratio of 24.70 and a beta of 0.89. Fabrinet has a 52-week low of $159.69 and a 52-week high of $281.79. The stock has a fifty day moving average of $219.44 and a 200 day moving average of $230.88.

Fabrinet (NYSE:FN) last posted its quarterly earnings data 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 net margin of 10.44% and a return on equity of 18.48%. Equities analysts forecast that Fabrinet will post 9.4 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on FN. JPMorgan Chase & Co. dropped their target price on Fabrinet from $275.00 to $265.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 4th. Rosenblatt Securities reiterated a “buy” rating and issued a $285.00 price target on shares of Fabrinet in a research report on Friday. Needham & Company LLC reiterated a “buy” rating and issued a $280.00 price target on shares of Fabrinet 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. Finally, B. Riley cut Fabrinet from a “neutral” rating to a “sell” rating and reduced their price target for the company from $194.00 to $178.00 in a research report on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. According to MarketBeat, Fabrinet has a consensus rating of “Hold” and an average target price of $246.63.

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.