Henry James International Management Inc. Reduces Holdings in Fabrinet (NYSE:FN)

Henry James International Management Inc. reduced its holdings in shares of Fabrinet (NYSE:FN) by 10.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,247 shares of the technology company’s stock after selling 152 shares during the period. Henry James International Management Inc.’s holdings in Fabrinet were worth $274,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in FN. Cynosure Group LLC grew its position in shares of Fabrinet by 3.4% during the 3rd quarter. Cynosure Group LLC now owns 1,560 shares of the technology company’s stock valued at $369,000 after acquiring an additional 51 shares during the period. Huntington National Bank grew its holdings in Fabrinet by 70.4% during the third quarter. Huntington National Bank now owns 138 shares of the technology company’s stock valued at $33,000 after purchasing an additional 57 shares during the period. CIBC Asset Management Inc increased its position in Fabrinet by 5.7% in the fourth quarter. CIBC Asset Management Inc now owns 1,113 shares of the technology company’s stock worth $245,000 after buying an additional 60 shares in the last quarter. Nations Financial Group Inc. IA ADV raised its stake in shares of Fabrinet by 2.4% in the fourth quarter. Nations Financial Group Inc. IA ADV now owns 2,941 shares of the technology company’s stock worth $647,000 after buying an additional 68 shares during the period. Finally, Janney Montgomery Scott LLC raised its stake in shares of Fabrinet by 2.6% in the fourth quarter. Janney Montgomery Scott LLC now owns 3,279 shares of the technology company’s stock worth $721,000 after buying an additional 82 shares during the period. 97.38% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

FN has been the subject of several analyst reports. Barclays reduced their target price on shares of Fabrinet from $292.00 to $245.00 and set an “equal weight” rating for the company in a report on Tuesday, February 4th. JPMorgan Chase & Co. reduced their price objective on shares of Fabrinet from $275.00 to $265.00 and set a “neutral” rating for the company in a research note on Tuesday, February 4th. Rosenblatt Securities lifted their target price on shares of Fabrinet from $280.00 to $285.00 and gave the company a “buy” rating in a research note on Tuesday, February 4th. Fox Advisors started coverage on shares of Fabrinet in a report on Tuesday, February 18th. They issued an “overweight” rating and a $270.00 target price for the company. Finally, B. Riley cut Fabrinet from a “neutral” rating to a “sell” rating and decreased their price target for the company from $194.00 to $178.00 in a report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $246.63.

Fabrinet Stock Performance

Shares of NYSE FN opened at $199.19 on Friday. The company has a market cap of $7.22 billion, a P/E ratio of 22.28 and a beta of 0.92. Fabrinet has a 52-week low of $159.69 and a 52-week high of $281.79. The firm’s fifty day moving average is $223.90 and its two-hundred day moving average is $234.20.

Fabrinet (NYSE:FN) last issued its quarterly earnings data 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 net margin of 10.44% and a return on equity of 18.48%. As a group, analysts forecast that Fabrinet will post 9.4 EPS 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.