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

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

Several other hedge funds have also recently added to or reduced their stakes in FN. Assetmark Inc. lifted its stake in Fabrinet by 468.4% during the third quarter. Assetmark Inc. now owns 432 shares of the technology company’s stock worth $102,000 after purchasing an additional 356 shares during the last quarter. KBC Group NV lifted its stake in shares of Fabrinet by 12.2% in the 3rd quarter. KBC Group NV now owns 1,022 shares of the technology company’s stock valued at $242,000 after acquiring an additional 111 shares during the last quarter. Huntington National Bank lifted 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 acquiring an additional 57 shares during the last quarter. Mutual of America Capital Management LLC lifted its stake in shares of Fabrinet by 43.4% in the 3rd quarter. Mutual of America Capital Management LLC now owns 44,175 shares of the technology company’s stock valued at $10,445,000 after acquiring an additional 13,361 shares during the last quarter. Finally, LMR Partners LLP lifted its stake in shares of Fabrinet by 68.4% in the 3rd quarter. LMR Partners LLP now owns 39,493 shares of the technology company’s stock valued at $9,338,000 after acquiring an additional 16,037 shares during the last quarter. Institutional investors own 97.38% of the company’s stock.

Fabrinet Stock Performance

FN stock opened at $220.85 on Friday. Fabrinet has a fifty-two week low of $159.69 and a fifty-two week high of $281.79. The business’s 50 day moving average price is $219.44 and its two-hundred day moving average price is $230.88. The company has a market capitalization of $8.01 billion, a price-to-earnings ratio of 24.70 and a beta of 0.89.

Fabrinet (NYSE:FN) last posted its earnings results on Monday, February 3rd. The technology company reported $2.38 earnings per share for the quarter, missing analysts’ consensus estimates of $2.48 by ($0.10). Fabrinet had a return on equity of 18.48% and a net margin of 10.44%. Sell-side analysts forecast that Fabrinet will post 9.4 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on FN. Needham & Company LLC reissued a “buy” rating and issued a $280.00 target price on shares of Fabrinet in a research note on Tuesday, February 4th. Barclays lowered their target price on Fabrinet from $292.00 to $245.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 4th. Rosenblatt Securities reissued a “buy” rating and issued a $285.00 target price on shares of Fabrinet in a research note on Friday. JPMorgan Chase & Co. reduced their price target on Fabrinet from $275.00 to $265.00 and set a “neutral” rating on the stock in a report on Tuesday, February 4th. Finally, Fox Advisors started coverage on Fabrinet in a report on Tuesday, February 18th. They set an “overweight” rating and a $270.00 price target on the stock. 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 stock. According to MarketBeat, Fabrinet has an average rating of “Hold” and a consensus price target 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.