Fabrinet (NYSE:FN) Stock Holdings Trimmed by Trexquant Investment LP

Trexquant Investment LP trimmed its holdings in shares of Fabrinet (NYSE:FN) by 50.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 29,420 shares of the technology company’s stock after selling 29,811 shares during the period. Trexquant Investment LP owned approximately 0.08% of Fabrinet worth $6,469,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Barclays PLC increased its stake in Fabrinet by 304.6% during 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. bought a new stake in Fabrinet during the fourth quarter worth approximately $518,000. Janney Montgomery Scott LLC lifted its position in Fabrinet by 2.6% in the fourth quarter. Janney Montgomery Scott LLC now owns 3,279 shares of the technology company’s stock worth $721,000 after purchasing an additional 82 shares during the period. JPMorgan Chase & Co. boosted its stake in Fabrinet by 3.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 660,401 shares of the technology company’s stock valued at $156,145,000 after purchasing an additional 24,439 shares in the last quarter. Finally, Harbor Capital Advisors Inc. increased its position in shares of Fabrinet by 33.2% during the 4th quarter. Harbor Capital Advisors Inc. now owns 13,901 shares of the technology company’s stock valued at $3,057,000 after purchasing an additional 3,468 shares during the period. 97.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

FN has been the subject of several research reports. Fox Advisors began coverage on Fabrinet in a research note on Tuesday, February 18th. They set an “overweight” rating and a $270.00 target price for the company. JPMorgan Chase & Co. lowered their price objective on shares of 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 reissued a “buy” rating and set a $280.00 target price on shares of Fabrinet in a research note on Monday, March 17th. Rosenblatt Securities restated a “buy” rating and issued a $285.00 price target on shares of Fabrinet in a research report on Friday, March 14th. Finally, Barclays cut their price objective on Fabrinet from $292.00 to $245.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 4th. Four investment 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, Fabrinet currently has a consensus rating of “Hold” and a consensus target price of $250.14.

Fabrinet Stock Performance

NYSE FN opened at $171.11 on Friday. The firm’s 50 day moving average price is $209.73 and its two-hundred day moving average price is $228.95. Fabrinet has a twelve month low of $148.55 and a twelve month high of $281.79. The stock has a market cap of $6.21 billion, a price-to-earnings ratio of 19.14 and a beta of 0.89.

Fabrinet (NYSE:FN) last posted its quarterly earnings results on Monday, February 3rd. The technology company reported $2.38 earnings per share 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%. On average, research analysts forecast that Fabrinet will post 9.4 EPS for the current fiscal year.

About Fabrinet

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.