Quadrant Capital Group LLC Sells 142 Shares of Fabrinet (NYSE:FN)

Quadrant Capital Group LLC lessened its stake in Fabrinet (NYSE:FN) by 6.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,143 shares of the technology company’s stock after selling 142 shares during the period. Quadrant Capital Group LLC’s holdings in Fabrinet were worth $471,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in FN. Barclays PLC lifted its position in shares of Fabrinet by 304.6% in 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. Salem Investment Counselors Inc. acquired a new position in shares of Fabrinet in the fourth quarter valued at $518,000. Janney Montgomery Scott LLC raised its stake in shares of Fabrinet by 2.6% in the fourth quarter. Janney Montgomery Scott LLC now owns 3,279 shares of the technology company’s stock valued at $721,000 after purchasing an additional 82 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in 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 buying an additional 24,439 shares in the last quarter. Finally, Harbor Capital Advisors Inc. increased its holdings in Fabrinet by 33.2% in the 4th quarter. Harbor Capital Advisors Inc. now owns 13,901 shares of the technology company’s stock valued at $3,057,000 after buying an additional 3,468 shares during the period. 97.38% of the stock is owned by institutional investors and hedge funds.

Fabrinet Stock Performance

Fabrinet stock opened at $178.74 on Tuesday. The business’s fifty day moving average is $209.27 and its two-hundred day moving average is $228.54. The firm has a market cap of $6.48 billion, a P/E ratio of 19.99 and a beta of 0.97. Fabrinet has a 52 week low of $148.55 and a 52 week high of $281.79.

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 return on equity of 18.48% and a net margin of 10.44%. On average, equities research analysts predict that Fabrinet will post 9.4 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Rosenblatt Securities reiterated a “buy” rating and set a $285.00 target price on shares of Fabrinet in a research report on Friday, March 14th. B. Riley upgraded shares of Fabrinet from a “sell” rating to a “neutral” rating and cut their price target for the stock from $178.00 to $176.00 in a research note on Friday. JPMorgan Chase & Co. lowered their price objective on Fabrinet from $275.00 to $265.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 4th. Needham & Company LLC restated a “buy” rating and set a $280.00 target price on shares of Fabrinet in a research report on Monday, March 17th. Finally, Barclays reduced their target price 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. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $250.14.

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.