Rice Hall James & Associates LLC Decreases Stake in Fabrinet (NYSE:FN)

Rice Hall James & Associates LLC lowered its position in Fabrinet (NYSE:FN) by 4.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 124,988 shares of the technology company’s stock after selling 5,617 shares during the quarter. Fabrinet comprises 1.5% of Rice Hall James & Associates LLC’s investment portfolio, making the stock its 17th largest holding. Rice Hall James & Associates LLC owned approximately 0.34% of Fabrinet worth $27,482,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Huntington National Bank grew its holdings in Fabrinet by 70.4% during the 3rd quarter. Huntington National Bank now owns 138 shares of the technology company’s stock valued at $33,000 after buying an additional 57 shares in the last quarter. NBC Securities Inc. grew its holdings in Fabrinet by 732.0% during the 3rd quarter. NBC Securities Inc. now owns 208 shares of the technology company’s stock valued at $49,000 after buying an additional 183 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in Fabrinet during the 3rd quarter valued at about $52,000. Eastern Bank purchased a new position in Fabrinet during the 3rd quarter valued at about $59,000. Finally, Public Employees Retirement System of Ohio purchased a new position in Fabrinet during the 3rd quarter valued at about $61,000. Hedge funds and other institutional investors own 97.38% of the company’s stock.

Fabrinet Price Performance

NYSE:FN opened at $223.29 on Tuesday. The business has a 50 day moving average of $227.23 and a 200 day moving average of $233.57. The company has a market capitalization of $8.10 billion, a price-to-earnings ratio of 24.98 and a beta of 0.92. Fabrinet has a 1-year low of $159.69 and a 1-year high of $281.79.

Fabrinet (NYSE:FN) last released its earnings results 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 return on equity of 18.48% and a net margin of 10.44%. As a group, sell-side analysts anticipate that Fabrinet will post 9.4 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on FN. Needham & Company LLC reaffirmed a “buy” rating and set a $280.00 target price on shares of Fabrinet in a report on Tuesday, February 4th. B. Riley lowered Fabrinet from a “neutral” rating to a “sell” rating and cut their price objective for the stock from $194.00 to $178.00 in a report on Wednesday, November 20th. Barclays cut their price objective on 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. cut 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. Finally, Rosenblatt Securities boosted their price objective on Fabrinet from $280.00 to $285.00 and gave the stock a “buy” rating in a report on Tuesday, February 4th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $243.29.

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.