7,811 Shares in Fabrinet (NYSE:FN) Acquired by New Age Alpha Advisors LLC

New Age Alpha Advisors LLC acquired a new position in shares of Fabrinet (NYSE:FN) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 7,811 shares of the technology company’s stock, valued at approximately $1,717,000.

Several other large investors have also recently added to or reduced their stakes in FN. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Fabrinet during the third quarter valued at approximately $52,000. Public Employees Retirement System of Ohio bought a new stake in Fabrinet during the 3rd quarter valued at $61,000. IFP Advisors Inc boosted its position in Fabrinet by 576.2% during the 4th quarter. IFP Advisors Inc now owns 284 shares of the technology company’s stock worth $63,000 after acquiring an additional 242 shares during the period. Wilmington Savings Fund Society FSB bought a new position in shares of Fabrinet in the third quarter worth $70,000. Finally, Assetmark Inc. increased its holdings in shares of Fabrinet by 12.0% during the fourth quarter. Assetmark Inc. now owns 484 shares of the technology company’s stock valued at $106,000 after purchasing an additional 52 shares during the period. 97.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

FN has been the subject of a number of recent analyst reports. Barclays decreased their target price on shares of Fabrinet from $292.00 to $245.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 4th. Fox Advisors began coverage on Fabrinet in a report on Tuesday, February 18th. They set an “overweight” rating and a $270.00 target price on the stock. JPMorgan Chase & Co. cut their target price on Fabrinet from $275.00 to $265.00 and set a “neutral” rating for the company in a research report on Tuesday, February 4th. Needham & Company LLC reiterated a “buy” rating and set a $280.00 price target on shares of Fabrinet in a research report on Monday, March 17th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $285.00 price objective on shares of Fabrinet in a report on Friday, March 14th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $250.43.

Fabrinet Stock Down 5.3 %

Shares of Fabrinet stock opened at $195.58 on Monday. The stock’s fifty day moving average is $216.64 and its 200-day moving average is $230.31. The firm has a market capitalization of $7.09 billion, a PE ratio of 21.88 and a beta of 0.89. Fabrinet has a 12-month low of $159.69 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%. Analysts expect that Fabrinet will post 9.4 EPS for the current 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.