Pier Capital LLC Lowers Position in Fabrinet (NYSE:FN)

Pier Capital LLC trimmed its position in Fabrinet (NYSE:FN) by 19.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 27,062 shares of the technology company’s stock after selling 6,684 shares during the period. Pier Capital LLC’s holdings in Fabrinet were worth $5,950,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. EFG Asset Management North America Corp. bought a new stake in shares of Fabrinet during the 4th quarter valued at $1,726,000. Emerald Advisers LLC lifted its position in Fabrinet by 32.0% during the 4th quarter. Emerald Advisers LLC now owns 123,001 shares of the technology company’s stock valued at $27,045,000 after acquiring an additional 29,834 shares during the period. Vanguard Group Inc. boosted its stake in Fabrinet by 2.8% during the fourth quarter. Vanguard Group Inc. now owns 4,137,579 shares of the technology company’s stock worth $909,771,000 after acquiring an additional 113,186 shares in the last quarter. Bridge City Capital LLC grew its holdings in Fabrinet by 12.5% in the fourth quarter. Bridge City Capital LLC now owns 23,957 shares of the technology company’s stock worth $5,268,000 after purchasing an additional 2,668 shares during the period. Finally, LPL Financial LLC increased its stake in shares of Fabrinet by 110.4% during the fourth quarter. LPL Financial LLC now owns 14,531 shares of the technology company’s stock valued at $3,195,000 after purchasing an additional 7,624 shares in the last quarter. Institutional investors own 97.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on FN. Needham & Company LLC reissued a “buy” rating and issued a $280.00 price target on shares of Fabrinet in a research report on Monday, March 17th. Rosenblatt Securities reissued a “buy” rating and issued a $285.00 target price on shares of Fabrinet in a research report on Friday, March 14th. Fox Advisors assumed coverage on Fabrinet in a research note on Tuesday, February 18th. They set an “overweight” rating and a $270.00 price target for the company. JPMorgan Chase & Co. lowered their price objective on shares of Fabrinet from $275.00 to $265.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 4th. Finally, Barclays cut their target price on shares of Fabrinet from $292.00 to $245.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $250.43.

Fabrinet Stock Up 5.0 %

FN stock opened at $231.74 on Tuesday. The business’s 50-day moving average price is $218.73 and its 200-day moving average price is $230.38. The stock has a market cap of $8.40 billion, a P/E ratio of 25.92 and a beta of 0.89. Fabrinet has a twelve month low of $159.69 and a twelve month high of $281.79.

Fabrinet (NYSE:FN) last released its earnings results on Monday, February 3rd. The technology company reported $2.38 EPS 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%. On average, equities research analysts expect that Fabrinet will post 9.4 earnings per share for the current fiscal year.

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.