Legal & General Group Plc Sells 1,915 Shares of Fabrinet (NYSE:FN)

Legal & General Group Plc trimmed its stake in Fabrinet (NYSE:FN) by 2.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 63,160 shares of the technology company’s stock after selling 1,915 shares during the quarter. Legal & General Group Plc owned about 0.17% of Fabrinet worth $13,888,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Barclays PLC grew its stake in shares of Fabrinet by 304.6% in the 3rd quarter. Barclays PLC now owns 69,128 shares of the technology company’s stock valued at $16,345,000 after buying an additional 52,042 shares during the period. Salem Investment Counselors Inc. acquired a new stake in Fabrinet in the fourth quarter valued at approximately $518,000. Janney Montgomery Scott LLC increased its holdings in shares of Fabrinet by 2.6% during the fourth quarter. Janney Montgomery Scott LLC now owns 3,279 shares of the technology company’s stock valued at $721,000 after acquiring an additional 82 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Fabrinet by 3.8% during the third quarter. JPMorgan Chase & Co. now owns 660,401 shares of the technology company’s stock worth $156,145,000 after purchasing an additional 24,439 shares during the period. Finally, Harbor Capital Advisors Inc. raised its position in shares of Fabrinet by 33.2% during the fourth quarter. Harbor Capital Advisors Inc. now owns 13,901 shares of the technology company’s stock worth $3,057,000 after purchasing an additional 3,468 shares during the period. 97.38% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on FN. Barclays dropped their price objective on shares of Fabrinet from $292.00 to $245.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 4th. Rosenblatt Securities reiterated a “buy” rating and set a $285.00 price target on shares of Fabrinet in a research note on Friday, March 14th. JPMorgan Chase & Co. dropped their target price on Fabrinet from $275.00 to $265.00 and set a “neutral” rating on the stock in a report on Tuesday, February 4th. B. Riley upgraded Fabrinet from a “sell” rating to a “neutral” rating and decreased their price target for the stock from $178.00 to $176.00 in a report on Friday, April 4th. Finally, Fox Advisors began coverage on Fabrinet in a research note on Tuesday, February 18th. They set an “overweight” rating and a $270.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $250.14.

Fabrinet Trading Down 1.1 %

Shares of FN opened at $188.06 on Wednesday. The stock has a 50 day moving average of $205.04 and a 200 day moving average of $226.08. The company has a market capitalization of $6.74 billion, a price-to-earnings ratio of 21.04 and a beta of 0.97. Fabrinet has a 12 month low of $148.55 and a 12 month high of $281.79.

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 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, equities research analysts predict that Fabrinet will post 9.4 earnings per share for the current year.

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.