Kestra Investment Management LLC Invests $241,000 in Fabrinet (NYSE:FN)

Kestra Investment Management LLC acquired a new stake in shares of Fabrinet (NYSE:FN) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,097 shares of the technology company’s stock, valued at approximately $241,000.

A number of other institutional investors have also recently added to or reduced their stakes in FN. Legacy Wealth Asset Management LLC boosted its holdings in shares of Fabrinet by 3.2% during the third quarter. Legacy Wealth Asset Management LLC now owns 1,375 shares of the technology company’s stock valued at $325,000 after acquiring an additional 43 shares during the period. Cynosure Group LLC boosted its stake in Fabrinet by 3.4% during the 3rd quarter. Cynosure Group LLC now owns 1,560 shares of the technology company’s stock valued at $369,000 after purchasing an additional 51 shares during the period. Huntington National Bank grew its position in Fabrinet by 70.4% in the 3rd quarter. Huntington National Bank now owns 138 shares of the technology company’s stock worth $33,000 after purchasing an additional 57 shares during the last quarter. CIBC Asset Management Inc increased its stake in shares of Fabrinet by 5.7% in the fourth quarter. CIBC Asset Management Inc now owns 1,113 shares of the technology company’s stock valued at $245,000 after purchasing an additional 60 shares during the period. Finally, Nations Financial Group Inc. IA ADV raised its holdings in shares of Fabrinet by 2.4% during the fourth quarter. Nations Financial Group Inc. IA ADV now owns 2,941 shares of the technology company’s stock valued at $647,000 after buying an additional 68 shares during the last quarter. 97.38% of the stock is currently owned by institutional investors.

Fabrinet Price Performance

Shares of FN opened at $238.79 on Thursday. The firm’s 50 day moving average is $227.06 and its 200-day moving average is $233.89. Fabrinet has a 12-month low of $159.69 and a 12-month high of $281.79. The stock has a market capitalization of $8.66 billion, a P/E ratio of 26.71 and a beta of 0.92.

Fabrinet (NYSE:FN) last posted 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%. As a group, equities research analysts forecast that Fabrinet will post 9.4 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. B. Riley lowered Fabrinet from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $194.00 to $178.00 in a report on Wednesday, November 20th. Barclays lowered their price target on Fabrinet from $292.00 to $245.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 4th. Fox Advisors began coverage on shares of Fabrinet in a report on Tuesday. They issued an “overweight” rating and a $270.00 price objective for the company. JPMorgan Chase & Co. lowered their target price 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. Finally, Rosenblatt Securities upped their price target on shares of Fabrinet from $280.00 to $285.00 and gave the stock a “buy” rating in a research note on Tuesday, February 4th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Fabrinet currently has a consensus rating of “Hold” and a consensus price target of $246.63.

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.