Fabrinet (NYSE:FN) Stock Position Reduced by abrdn plc

abrdn plc cut its stake in shares of Fabrinet (NYSE:FN) by 18.0% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 151,432 shares of the technology company’s stock after selling 33,278 shares during the period. abrdn plc owned about 0.42% of Fabrinet worth $32,522,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Huntington National Bank grew its position in Fabrinet by 70.4% in the third quarter. Huntington National Bank now owns 138 shares of the technology company’s stock worth $33,000 after acquiring an additional 57 shares in the last quarter. NBC Securities Inc. grew its position in Fabrinet by 732.0% in the third quarter. NBC Securities Inc. now owns 208 shares of the technology company’s stock worth $49,000 after acquiring an additional 183 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in Fabrinet in the third quarter worth approximately $52,000. UMB Bank n.a. grew its position in Fabrinet by 252.9% in the third quarter. UMB Bank n.a. now owns 240 shares of the technology company’s stock worth $57,000 after acquiring an additional 172 shares in the last quarter. Finally, Eastern Bank bought a new stake in Fabrinet in the third quarter worth approximately $59,000. 97.38% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Rosenblatt Securities upped their price objective on shares of Fabrinet from $280.00 to $285.00 and gave the stock a “buy” rating in a report on Tuesday. JPMorgan Chase & Co. decreased their price objective on shares of Fabrinet from $275.00 to $265.00 and set a “neutral” rating for the company in a report on Tuesday. Needham & Company LLC reaffirmed a “buy” rating and set a $280.00 price objective on shares of Fabrinet in a report on Tuesday. Barclays decreased their price objective on shares of Fabrinet from $292.00 to $245.00 and set an “equal weight” rating for the company in a report on Tuesday. Finally, 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 report on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Fabrinet has an average rating of “Hold” and a consensus price target of $243.29.

Fabrinet Stock Up 3.4 %

Shares of FN opened at $214.08 on Thursday. Fabrinet has a 12-month low of $159.69 and a 12-month high of $281.79. The firm has a market capitalization of $7.76 billion, a price-to-earnings ratio of 25.33 and a beta of 0.92. The stock’s 50-day moving average price is $230.44 and its 200 day moving average price is $234.17.

Fabrinet (NYSE:FN) last released its quarterly earnings data 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 10.28% and a return on equity of 18.08%. Equities research analysts expect that Fabrinet will post 9.1 EPS for the current 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.