Fabrinet (NYSE:FN) Shares Sold by Neumeier Poma Investment Counsel LLC

Neumeier Poma Investment Counsel LLC decreased its position in Fabrinet (NYSE:FN) by 49.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 55,812 shares of the technology company’s stock after selling 54,660 shares during the quarter. Neumeier Poma Investment Counsel LLC owned 0.15% of Fabrinet worth $12,272,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Fabrinet by 2.8% in 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. Wellington Management Group LLP boosted its stake in shares of Fabrinet by 1.7% during the 3rd quarter. Wellington Management Group LLP now owns 1,169,162 shares of the technology company’s stock valued at $276,437,000 after buying an additional 19,677 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Fabrinet by 7.6% during the third quarter. Geode Capital Management LLC now owns 986,813 shares of the technology company’s stock worth $233,359,000 after buying an additional 69,554 shares in the last quarter. Whale Rock Capital Management LLC increased its stake in shares of Fabrinet by 25.8% in the third quarter. Whale Rock Capital Management LLC now owns 855,767 shares of the technology company’s stock worth $202,338,000 after buying an additional 175,684 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in Fabrinet by 3.8% in the third quarter. JPMorgan Chase & Co. now owns 660,401 shares of the technology company’s stock valued at $156,145,000 after acquiring an additional 24,439 shares in the last quarter. Hedge funds and other institutional investors own 97.38% of the company’s stock.

Fabrinet Trading Down 6.1 %

Shares of NYSE FN opened at $208.94 on Thursday. Fabrinet has a 12-month low of $159.69 and a 12-month high of $281.79. The company has a market cap of $7.58 billion, a price-to-earnings ratio of 23.37 and a beta of 0.89. The stock’s 50 day simple moving average is $218.14 and its 200 day simple moving average is $230.31.

Fabrinet (NYSE:FN) last posted 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%. As a group, equities analysts forecast that Fabrinet will post 9.4 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on FN. Barclays dropped 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. JPMorgan Chase & Co. lowered their price objective on Fabrinet from $275.00 to $265.00 and set a “neutral” rating for the company in a report on Tuesday, February 4th. Rosenblatt Securities reaffirmed a “buy” rating and set a $285.00 target price on shares of Fabrinet in a report on Friday, March 14th. Needham & Company LLC reiterated a “buy” rating and issued a $280.00 price target on shares of Fabrinet in a report on Monday, March 17th. Finally, Fox Advisors initiated coverage on Fabrinet in a research report on Tuesday, February 18th. They set an “overweight” rating and a $270.00 price target on the stock. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $250.43.

Fabrinet Company 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.