Hantz Financial Services Inc. Sells 39,988 Shares of Fabrinet (NYSE:FN)

Hantz Financial Services Inc. trimmed its position in Fabrinet (NYSE:FN) by 88.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,459 shares of the technology company’s stock after selling 39,988 shares during the period. Hantz Financial Services Inc.’s holdings in Fabrinet were worth $1,200,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Legacy Wealth Asset Management LLC boosted its position in shares of Fabrinet by 3.2% in the 3rd quarter. Legacy Wealth Asset Management LLC now owns 1,375 shares of the technology company’s stock worth $325,000 after purchasing an additional 43 shares in the last quarter. Wolff Wiese Magana LLC boosted its holdings in Fabrinet by 2.7% in the third quarter. Wolff Wiese Magana LLC now owns 1,765 shares of the technology company’s stock worth $417,000 after acquiring an additional 47 shares in the last quarter. Cynosure Group LLC grew its stake in shares of Fabrinet by 3.4% during the third quarter. Cynosure Group LLC now owns 1,560 shares of the technology company’s stock worth $369,000 after acquiring an additional 51 shares during the last quarter. Trust Point Inc. increased its holdings in shares of Fabrinet by 4.7% during the third quarter. Trust Point Inc. now owns 1,272 shares of the technology company’s stock valued at $301,000 after acquiring an additional 57 shares in the last quarter. Finally, Huntington National Bank raised its position in shares of Fabrinet by 70.4% in the 3rd quarter. Huntington National Bank now owns 138 shares of the technology company’s stock valued at $33,000 after purchasing an additional 57 shares during the last quarter. 97.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

FN has been the topic of a number of recent analyst reports. B. Riley lowered shares of Fabrinet from a “neutral” rating to a “sell” rating and cut their price target for the company from $194.00 to $178.00 in a research note on Wednesday, November 20th. Barclays initiated 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. Finally, Needham & Company LLC began coverage on Fabrinet in a research note on Tuesday, November 5th. They set a “buy” rating and a $280.00 price target on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Fabrinet currently has a consensus rating of “Hold” and a consensus price target of $252.14.

Fabrinet Stock Up 1.5 %

Shares of FN stock opened at $215.99 on Friday. Fabrinet has a 52-week low of $159.69 and a 52-week high of $281.79. The stock has a market cap of $7.83 billion, a PE ratio of 25.56 and a beta of 0.93. The business has a 50-day simple moving average of $231.33 and a 200-day simple moving average of $235.07.

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

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.