JSF Financial LLC Makes New Investment in Fabrinet (NYSE:FN)

JSF Financial LLC acquired a new position in shares of Fabrinet (NYSE:FN) in the 4th quarter, HoldingsChannel reports. The fund acquired 3,481 shares of the technology company’s stock, valued at approximately $765,000.

Several other institutional investors and hedge funds have also made changes to their positions in FN. Barclays PLC raised its holdings in Fabrinet by 304.6% in the third quarter. Barclays PLC now owns 69,128 shares of the technology company’s stock valued at $16,345,000 after acquiring an additional 52,042 shares in the last quarter. nVerses Capital LLC acquired a new stake in Fabrinet in the third quarter valued at $567,000. Charles Schwab Investment Management Inc. raised its holdings in Fabrinet by 14.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 480,550 shares of the technology company’s stock valued at $113,621,000 after acquiring an additional 61,491 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Fabrinet in the third quarter valued at $2,398,000. Finally, Pathstone Holdings LLC raised its holdings in Fabrinet by 40.7% in the third quarter. Pathstone Holdings LLC now owns 8,219 shares of the technology company’s stock valued at $1,943,000 after acquiring an additional 2,378 shares in the last quarter. 97.38% of the stock is currently owned by hedge funds and other institutional investors.

Fabrinet Stock Down 0.5 %

FN stock opened at $210.99 on Tuesday. Fabrinet has a fifty-two week low of $159.69 and a fifty-two week high of $281.79. The firm’s 50-day simple moving average is $229.66 and its 200 day simple moving average is $233.72. The stock has a market cap of $7.65 billion, a PE ratio of 23.60 and a beta of 0.92.

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

Wall Street Analysts Forecast Growth

FN has been the topic of several recent analyst reports. Rosenblatt Securities upped their price target on shares of Fabrinet from $280.00 to $285.00 and gave the company a “buy” rating in a report on Tuesday, February 4th. Barclays dropped their target price on shares of 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 target price on shares of Fabrinet from $275.00 to $265.00 and set a “neutral” rating on the stock in a report on Tuesday, February 4th. B. Riley cut shares of Fabrinet from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $194.00 to $178.00 in a report on Wednesday, November 20th. Finally, Needham & Company LLC reissued a “buy” rating and set a $280.00 target price on shares of Fabrinet in a report on Tuesday, February 4th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $243.29.

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.