New Age Alpha Advisors LLC Makes New Investment in Fabrinet (NYSE:FN)

New Age Alpha Advisors LLC acquired a new stake in shares of Fabrinet (NYSE:FN) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 7,811 shares of the technology company’s stock, valued at approximately $1,717,000.

A number of other institutional investors also recently modified their holdings of FN. Point72 Asia Singapore Pte. Ltd. bought a new position in Fabrinet in the 3rd quarter worth approximately $52,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Fabrinet during the 3rd quarter valued at about $61,000. IFP Advisors Inc lifted its stake in Fabrinet by 576.2% during the fourth quarter. IFP Advisors Inc now owns 284 shares of the technology company’s stock worth $63,000 after purchasing an additional 242 shares during the period. Wilmington Savings Fund Society FSB bought a new position in shares of Fabrinet during the 3rd quarter worth approximately $70,000. Finally, Assetmark Inc. boosted its stake in shares of Fabrinet by 12.0% in the 4th quarter. Assetmark Inc. now owns 484 shares of the technology company’s stock valued at $106,000 after purchasing an additional 52 shares in the last quarter. Institutional investors own 97.38% of the company’s stock.

Wall Street Analyst Weigh In

FN has been the topic of a number of research analyst reports. Needham & Company LLC restated a “buy” rating and set a $280.00 price target on shares of Fabrinet in a research report on Monday, March 17th. Fox Advisors initiated coverage on Fabrinet in a research note on Tuesday, February 18th. They issued an “overweight” rating and a $270.00 target price for the company. Rosenblatt Securities reiterated a “buy” rating and issued a $285.00 price objective on shares of Fabrinet in a report on Friday, March 14th. Barclays reduced their target price on Fabrinet from $292.00 to $245.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 4th. Finally, JPMorgan Chase & Co. lowered their price target on Fabrinet from $275.00 to $265.00 and set a “neutral” rating for the company in a research note on Tuesday, February 4th. One investment 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. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $250.43.

Fabrinet Trading Down 5.3 %

NYSE:FN opened at $195.58 on Monday. The stock has a market cap of $7.09 billion, a price-to-earnings ratio of 21.88 and a beta of 0.89. The stock has a 50-day moving average price of $216.64 and a two-hundred day moving average price of $230.31. Fabrinet has a 1 year low of $159.69 and a 1 year high of $281.79.

Fabrinet (NYSE:FN) last posted its earnings results on Monday, February 3rd. The technology company reported $2.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.48 by ($0.10). Fabrinet had a return on equity of 18.48% and a net margin of 10.44%. Sell-side analysts forecast that Fabrinet will post 9.4 earnings per share for the current 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.