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

Kestra Investment Management LLC bought a new stake in shares of Fabrinet (NYSE:FN) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 1,097 shares of the technology company’s stock, valued at approximately $241,000.

A number of other institutional investors have also recently bought and sold shares of FN. Wedge Capital Management L L P NC acquired a new stake in shares of Fabrinet during the 4th quarter valued at $63,222,000. Whale Rock Capital Management LLC boosted its position in Fabrinet by 25.8% during the third quarter. Whale Rock Capital Management LLC now owns 855,767 shares of the technology company’s stock valued at $202,338,000 after purchasing an additional 175,684 shares during the last quarter. Stephens Investment Management Group LLC purchased a new position in Fabrinet in the fourth quarter valued at about $28,218,000. World Investment Advisors LLC acquired a new position in Fabrinet in the 3rd quarter worth about $20,187,000. Finally, DekaBank Deutsche Girozentrale raised its stake in shares of Fabrinet by 3,831.4% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 82,088 shares of the technology company’s stock worth $19,465,000 after purchasing an additional 80,000 shares in the last quarter. 97.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Rosenblatt Securities boosted their price target on Fabrinet from $280.00 to $285.00 and gave the company a “buy” rating in a research note on Tuesday, February 4th. Barclays dropped their price target 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. Fox Advisors initiated coverage on shares of Fabrinet in a research note on Tuesday. They issued an “overweight” rating and a $270.00 price objective for the company. Needham & Company LLC reissued a “buy” rating and set a $280.00 target price on shares of Fabrinet in a research report on Tuesday, February 4th. Finally, JPMorgan Chase & Co. reduced their price target on Fabrinet from $275.00 to $265.00 and set a “neutral” rating for the company in a research report on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Fabrinet has an average rating of “Hold” and an average target price of $246.63.

Fabrinet Price Performance

FN stock opened at $238.79 on Thursday. The stock has a market capitalization of $8.66 billion, a price-to-earnings ratio of 26.71 and a beta of 0.92. The company has a 50-day moving average of $227.06 and a two-hundred day moving average of $233.89. Fabrinet has a 52-week low of $159.69 and a 52-week 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 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%. Equities analysts expect 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.