Alliancebernstein L.P. Has $168.61 Million Stock Position in Fabrinet (NYSE:FN)

Alliancebernstein L.P. reduced its holdings in Fabrinet (NYSE:FN) by 22.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 766,847 shares of the technology company’s stock after selling 217,614 shares during the period. Alliancebernstein L.P. owned approximately 2.11% of Fabrinet worth $168,614,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of FN. Assetmark Inc. increased its position in Fabrinet by 12.0% during the fourth quarter. Assetmark Inc. now owns 484 shares of the technology company’s stock worth $106,000 after acquiring an additional 52 shares during the period. CIBC Asset Management Inc increased its holdings in shares of Fabrinet by 5.7% during the 4th quarter. CIBC Asset Management Inc now owns 1,113 shares of the technology company’s stock worth $245,000 after purchasing an additional 60 shares during the period. Nations Financial Group Inc. IA ADV raised its position 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. Janney Montgomery Scott LLC lifted its stake in shares of Fabrinet by 2.6% in the fourth quarter. Janney Montgomery Scott LLC now owns 3,279 shares of the technology company’s stock valued at $721,000 after buying an additional 82 shares during the period. Finally, Transamerica Financial Advisors Inc. grew its position in Fabrinet by 17.2% during the fourth quarter. Transamerica Financial Advisors Inc. now owns 565 shares of the technology company’s stock worth $125,000 after buying an additional 83 shares in the last quarter. 97.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have commented on FN shares. Barclays cut their price target on Fabrinet from $292.00 to $245.00 and set an “equal weight” rating for the company in a report on Tuesday, February 4th. Needham & Company LLC restated a “buy” rating and issued a $280.00 target price on shares of Fabrinet in a research note on Monday, March 17th. Fox Advisors assumed coverage on shares of Fabrinet in a research note on Tuesday, February 18th. They set an “overweight” rating and a $270.00 price target on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Fabrinet from $275.00 to $265.00 and set a “neutral” rating for the company in a research note on Tuesday, February 4th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $285.00 target price on shares of Fabrinet in a research report on Friday, March 14th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Fabrinet has an average rating of “Hold” and a consensus target price of $250.43.

Fabrinet Price Performance

Fabrinet stock opened at $196.68 on Wednesday. Fabrinet has a 52-week low of $159.69 and a 52-week high of $281.79. The stock has a fifty day moving average price of $214.65 and a two-hundred day moving average price of $229.90. The firm has a market capitalization of $7.13 billion, a P/E ratio of 22.00 and a beta of 0.89.

Fabrinet (NYSE:FN) last announced 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 net margin of 10.44% and a return on equity of 18.48%. On average, equities research analysts predict that Fabrinet will post 9.4 EPS 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.