AdvisorNet Financial Inc Has $313,000 Stake in Fabrinet (NYSE:FN)

AdvisorNet Financial Inc lifted its stake in shares of Fabrinet (NYSE:FNFree Report) by 57.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 1,643 shares of the technology company’s stock after buying an additional 601 shares during the period. AdvisorNet Financial Inc’s holdings in Fabrinet were worth $313,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Redwood Investments LLC acquired a new position in Fabrinet in the fourth quarter valued at approximately $3,478,000. Value Aligned Research Advisors LLC lifted its holdings in Fabrinet by 44.2% in the fourth quarter. Value Aligned Research Advisors LLC now owns 2,679 shares of the technology company’s stock valued at $510,000 after buying an additional 821 shares during the period. Pinnacle Associates Ltd. acquired a new position in Fabrinet in the fourth quarter valued at approximately $664,000. Blue Trust Inc. lifted its holdings in Fabrinet by 56.8% in the fourth quarter. Blue Trust Inc. now owns 1,019 shares of the technology company’s stock valued at $194,000 after buying an additional 369 shares during the period. Finally, McGlone Suttner Wealth Management Inc. acquired a new position in Fabrinet in the fourth quarter valued at approximately $52,000. 97.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Northland Securities upgraded shares of Fabrinet from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $200.00 to $220.00 in a report on Thursday, March 21st. Needham & Company LLC cut their price objective on shares of Fabrinet from $230.00 to $220.00 and set a “buy” rating on the stock in a report on Friday, March 22nd. JPMorgan Chase & Co. lowered shares of Fabrinet from an “overweight” rating to a “neutral” rating and increased their target price for the stock from $185.00 to $210.00 in a report on Monday, January 8th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $230.00 target price on shares of Fabrinet in a report on Tuesday, February 6th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $159.29.

View Our Latest Analysis on FN

Insider Transactions at Fabrinet

In other news, Director Rollance E. Olson sold 10,000 shares of the stock in a transaction on Monday, February 12th. The shares were sold at an average price of $205.52, for a total transaction of $2,055,200.00. Following the completion of the sale, the director now owns 25,981 shares of the company’s stock, valued at $5,339,615.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.51% of the stock is owned by insiders.

Fabrinet Stock Down 1.7 %

Shares of FN stock opened at $185.57 on Wednesday. The firm has a fifty day moving average of $202.81 and a 200-day moving average of $183.78. Fabrinet has a 12-month low of $90.19 and a 12-month high of $229.02. The company has a market capitalization of $6.74 billion, a price-to-earnings ratio of 26.82 and a beta of 1.04.

Fabrinet (NYSE:FNGet Free Report) last issued its quarterly earnings data on Monday, February 5th. The technology company reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.84 by $0.05. Fabrinet had a net margin of 9.35% and a return on equity of 17.27%. The company had revenue of $712.69 million during the quarter, compared to the consensus estimate of $699.76 million. On average, equities analysts expect that Fabrinet will post 7.64 EPS for the current year.

Fabrinet Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Fabrinet (NYSE:FN)

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