Kayne Anderson Rudnick Investment Management LLC Sells 221 Shares of Fabrinet (NYSE:FN)

Kayne Anderson Rudnick Investment Management LLC cut its position in shares of Fabrinet (NYSE:FN) by 16.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,141 shares of the technology company’s stock after selling 221 shares during the period. Kayne Anderson Rudnick Investment Management LLC’s holdings in Fabrinet were worth $251,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Barclays PLC boosted its stake in shares of Fabrinet by 304.6% during the 3rd quarter. Barclays PLC now owns 69,128 shares of the technology company’s stock worth $16,345,000 after acquiring an additional 52,042 shares during the period. Virtu Financial LLC bought a new position in Fabrinet during the third quarter worth $431,000. Sanctuary Advisors LLC increased its holdings in shares of Fabrinet by 23.9% in the third quarter. Sanctuary Advisors LLC now owns 2,440 shares of the technology company’s stock valued at $562,000 after purchasing an additional 471 shares during the last quarter. World Investment Advisors LLC bought a new position in shares of Fabrinet in the third quarter valued at about $20,187,000. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of Fabrinet during the 3rd quarter worth about $70,000. Institutional investors own 97.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on FN shares. JPMorgan Chase & Co. decreased their target price on Fabrinet from $265.00 to $220.00 and set a “neutral” rating on the stock in a research report on Thursday, April 17th. Rosenblatt Securities lowered their price objective on Fabrinet from $280.00 to $230.00 and set a “buy” rating on the stock in a research report on Tuesday. Needham & Company LLC reissued a “buy” rating and set a $280.00 target price on shares of Fabrinet in a report on Monday, March 17th. Barclays dropped their price objective on shares of Fabrinet from $292.00 to $245.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 4th. Finally, Fox Advisors initiated coverage on shares of Fabrinet in a research report on Tuesday, February 18th. They set an “overweight” rating and a $270.00 target price on the stock. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Fabrinet presently has a consensus rating of “Hold” and a consensus price target of $235.86.

Fabrinet Stock Performance

Shares of FN stock opened at $177.37 on Wednesday. Fabrinet has a fifty-two week low of $148.55 and a fifty-two week high of $281.79. The company has a market cap of $6.36 billion, a PE ratio of 19.84 and a beta of 0.97. The stock’s fifty day moving average price is $202.00 and its two-hundred day moving average price is $224.18.

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

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.