Sei Investments Co. Has $21.82 Million Stock Position in Fabrinet (NYSE:FN)

Sei Investments Co. increased its holdings in Fabrinet (NYSE:FN) by 26.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 99,245 shares of the technology company’s stock after acquiring an additional 20,462 shares during the period. Sei Investments Co. owned about 0.27% of Fabrinet worth $21,822,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of FN. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Fabrinet during the 3rd quarter valued at $52,000. Public Employees Retirement System of Ohio acquired a new stake in Fabrinet during the third quarter valued at $61,000. IFP Advisors Inc grew its stake in Fabrinet by 576.2% in the fourth quarter. IFP Advisors Inc now owns 284 shares of the technology company’s stock valued at $63,000 after purchasing an additional 242 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Fabrinet in the 3rd quarter worth about $70,000. Finally, Assetmark Inc. raised its stake in shares of Fabrinet by 12.0% during the 4th quarter. Assetmark Inc. now owns 484 shares of the technology company’s stock worth $106,000 after purchasing an additional 52 shares in the last quarter. 97.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Fabrinet Trading Down 6.1 %

NYSE:FN opened at $208.94 on Thursday. The firm has a market capitalization of $7.58 billion, a PE ratio of 23.37 and a beta of 0.89. Fabrinet has a 1 year low of $159.69 and a 1 year high of $281.79. The firm’s fifty day simple moving average is $218.14 and its 200 day simple moving average is $230.31.

Fabrinet (NYSE:FN) last issued its quarterly earnings results on Monday, February 3rd. The technology company reported $2.38 earnings per share (EPS) for the quarter, missing the consensus estimate 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 anticipate 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.