Fabrinet (NYSE:FN) Shares Sold by Moody Aldrich Partners LLC

Moody Aldrich Partners LLC decreased its holdings in Fabrinet (NYSE:FN) by 3.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 13,524 shares of the technology company’s stock after selling 428 shares during the quarter. Moody Aldrich Partners LLC’s holdings in Fabrinet were worth $2,974,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. KBC Group NV increased its stake in Fabrinet by 39.1% in the 4th quarter. KBC Group NV now owns 1,422 shares of the technology company’s stock worth $313,000 after purchasing an additional 400 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of Fabrinet by 35.4% during the 4th quarter. Blue Trust Inc. now owns 577 shares of the technology company’s stock valued at $136,000 after buying an additional 151 shares during the last quarter. Archford Capital Strategies LLC lifted its holdings in Fabrinet by 4.7% in the 4th quarter. Archford Capital Strategies LLC now owns 1,886 shares of the technology company’s stock worth $415,000 after purchasing an additional 84 shares during the last quarter. Avior Wealth Management LLC lifted its holdings in Fabrinet by 24,520.0% in the 4th quarter. Avior Wealth Management LLC now owns 1,231 shares of the technology company’s stock worth $271,000 after purchasing an additional 1,226 shares during the last quarter. Finally, Janney Montgomery Scott LLC lifted its holdings in Fabrinet by 2.6% in the 4th quarter. Janney Montgomery Scott LLC now owns 3,279 shares of the technology company’s stock worth $721,000 after purchasing an additional 82 shares during the last quarter. Institutional investors own 97.38% of the company’s stock.

Analyst Upgrades and Downgrades

FN has been the topic of several recent analyst reports. B. Riley downgraded Fabrinet from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $194.00 to $178.00 in a research report on Wednesday, November 20th. Needham & Company LLC began coverage on Fabrinet in a research report on Tuesday, November 5th. They issued a “buy” rating and a $280.00 price target on the stock. Finally, Barclays began coverage on Fabrinet in a research note on Thursday, November 14th. They issued an “equal weight” rating and a $292.00 price objective on the stock. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Fabrinet has an average rating of “Hold” and an average target price of $252.14.

Fabrinet Stock Performance

Shares of FN opened at $206.63 on Wednesday. Fabrinet has a 52-week low of $159.69 and a 52-week high of $281.79. The firm has a market cap of $7.49 billion, a price-to-earnings ratio of 24.45 and a beta of 0.93. The business’s fifty day moving average is $232.87 and its 200-day moving average is $235.73.

Fabrinet (NYSE:FN) last announced its quarterly earnings data on Monday, November 4th. The technology company reported $2.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.38 by $0.01. Fabrinet had a return on equity of 18.08% and a net margin of 10.28%. The company had revenue of $804.20 million for the quarter, compared to the consensus estimate of $771.24 million. During the same period in the previous year, the business earned $1.78 EPS. The firm’s revenue was up 17.3% compared to the same quarter last year. As a group, research analysts forecast that Fabrinet will post 9.1 EPS for the current fiscal 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.