Fabrinet (NYSE:FN) Position Increased by Blueshift Asset Management LLC

Blueshift Asset Management LLC raised its position in shares of Fabrinet (NYSE:FN) by 66.6% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 2,797 shares of the technology company’s stock after buying an additional 1,118 shares during the period. Blueshift Asset Management LLC’s holdings in Fabrinet were worth $615,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Cynosure Group LLC increased its holdings in shares of Fabrinet by 3.4% in the 3rd quarter. Cynosure Group LLC now owns 1,560 shares of the technology company’s stock valued at $369,000 after purchasing an additional 51 shares during the period. Assetmark Inc. increased its holdings in shares of Fabrinet by 12.0% in the 4th quarter. Assetmark Inc. now owns 484 shares of the technology company’s stock valued at $106,000 after purchasing an additional 52 shares during the period. CIBC Asset Management Inc increased its holdings in shares of Fabrinet by 5.7% in the 4th quarter. CIBC Asset Management Inc now owns 1,113 shares of the technology company’s stock valued at $245,000 after purchasing an additional 60 shares during the period. Nations Financial Group Inc. IA ADV increased its holdings in shares of Fabrinet by 2.4% in the 4th quarter. Nations Financial Group Inc. IA ADV now owns 2,941 shares of the technology company’s stock valued at $647,000 after purchasing an additional 68 shares during the period. Finally, Janney Montgomery Scott LLC increased its holdings in shares of Fabrinet by 2.6% in the 4th quarter. Janney Montgomery Scott LLC now owns 3,279 shares of the technology company’s stock valued at $721,000 after purchasing an additional 82 shares during the period. 97.38% of the stock is owned by hedge funds and other institutional investors.

Fabrinet Stock Down 1.1 %

Shares of FN stock opened at $222.08 on Friday. Fabrinet has a 12 month low of $159.69 and a 12 month high of $281.79. The business’s 50 day moving average is $218.70 and its two-hundred day moving average is $230.39. The company has a market cap of $8.05 billion, a PE ratio of 24.84 and a beta of 0.89.

Fabrinet (NYSE:FN) last announced its quarterly earnings results on Monday, February 3rd. The technology company reported $2.38 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%. As a group, equities analysts expect that Fabrinet will post 9.4 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Barclays dropped their target price on Fabrinet from $292.00 to $245.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 4th. JPMorgan Chase & Co. dropped their price objective on Fabrinet from $275.00 to $265.00 and set a “neutral” rating on the stock in a report on Tuesday, February 4th. Fox Advisors initiated coverage on Fabrinet in a report on Tuesday, February 18th. They issued an “overweight” rating and a $270.00 price objective on the stock. Rosenblatt Securities restated a “buy” rating and issued a $285.00 price objective on shares of Fabrinet in a report on Friday, March 14th. Finally, Needham & Company LLC restated a “buy” rating and issued a $280.00 price objective on shares of Fabrinet in a report on Monday. One 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’s stock. According to data from MarketBeat.com, Fabrinet currently has an average rating of “Hold” and an average 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.