2,355 Shares in Fabrinet (NYSE:FN) Acquired by Salem Investment Counselors Inc.

Salem Investment Counselors Inc. bought a new stake in Fabrinet (NYSE:FN) in the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 2,355 shares of the technology company’s stock, valued at approximately $518,000.

Several other large investors have also recently added to or reduced their stakes in FN. Barclays PLC increased its stake in Fabrinet by 304.6% in the third quarter. Barclays PLC now owns 69,128 shares of the technology company’s stock valued at $16,345,000 after purchasing an additional 52,042 shares during the period. nVerses Capital LLC purchased a new position in Fabrinet in the 3rd quarter valued at approximately $567,000. Charles Schwab Investment Management Inc. increased its holdings in Fabrinet by 14.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 480,550 shares of the technology company’s stock valued at $113,621,000 after acquiring an additional 61,491 shares in the last quarter. Pathstone Holdings LLC increased its stake in shares of Fabrinet by 40.7% during the 3rd quarter. Pathstone Holdings LLC now owns 8,219 shares of the technology company’s stock worth $1,943,000 after purchasing an additional 2,378 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Fabrinet in the third quarter worth $2,398,000. 97.38% of the stock is owned by hedge funds and other institutional investors.

Fabrinet Price Performance

Shares of FN stock opened at $221.96 on Tuesday. Fabrinet has a 12-month low of $159.69 and a 12-month high of $278.38. The firm has a market capitalization of $8.05 billion, a price-to-earnings ratio of 26.27 and a beta of 0.93. The business has a 50 day simple moving average of $234.57 and a 200 day simple moving average of $235.68.

Fabrinet (NYSE:FN) last issued its quarterly earnings results on Monday, November 4th. The technology company reported $2.39 EPS for the quarter, beating analysts’ consensus estimates of $2.38 by $0.01. The company had revenue of $804.20 million for the quarter, compared to analyst estimates of $771.24 million. Fabrinet had a return on equity of 18.08% and a net margin of 10.28%. The company’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same period last year, the company earned $1.78 earnings per share. On average, equities analysts anticipate that Fabrinet will post 9.1 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on FN shares. Needham & Company LLC assumed coverage on shares of Fabrinet in a research note on Tuesday, November 5th. They set a “buy” rating and a $280.00 price objective on the stock. B. Riley downgraded shares of 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 research note on Wednesday, November 20th. Finally, Barclays started coverage on Fabrinet in a research note on Thursday, November 14th. They issued an “equal weight” rating and a $292.00 target price for the company. One analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Fabrinet has an average rating of “Hold” and an average price target of $252.14.

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.