Counterpoint Mutual Funds LLC Purchases 289 Shares of Fabrinet (NYSE:FN)

Counterpoint Mutual Funds LLC grew its position in shares of Fabrinet (NYSE:FN) by 29.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,261 shares of the technology company’s stock after purchasing an additional 289 shares during the quarter. Counterpoint Mutual Funds LLC’s holdings in Fabrinet were worth $277,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. Cynosure Group LLC increased its position in shares of Fabrinet by 3.4% during the 3rd quarter. Cynosure Group LLC now owns 1,560 shares of the technology company’s stock valued at $369,000 after purchasing an additional 51 shares during the last quarter. Assetmark Inc. grew its position in Fabrinet by 12.0% during the 4th quarter. Assetmark Inc. now owns 484 shares of the technology company’s stock worth $106,000 after acquiring an additional 52 shares during the last quarter. Huntington National Bank grew its position in Fabrinet by 70.4% during the 3rd quarter. Huntington National Bank now owns 138 shares of the technology company’s stock worth $33,000 after acquiring an additional 57 shares during the last quarter. CIBC Asset Management Inc grew its position in 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 acquiring an additional 60 shares during the last quarter. Finally, Nations Financial Group Inc. IA ADV grew its position in Fabrinet by 2.4% during the 4th quarter. Nations Financial Group Inc. IA ADV now owns 2,941 shares of the technology company’s stock worth $647,000 after acquiring an additional 68 shares during the last quarter. 97.38% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on FN shares. Barclays reduced their price target on Fabrinet from $292.00 to $245.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 4th. Rosenblatt Securities restated a “buy” rating and set a $285.00 price target on shares of Fabrinet in a research report on Friday, March 14th. B. Riley lowered Fabrinet from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $194.00 to $178.00 in a research report on Wednesday, November 20th. JPMorgan Chase & Co. cut their price objective on Fabrinet from $275.00 to $265.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 4th. Finally, Fox Advisors assumed coverage on Fabrinet in a research report on Tuesday, February 18th. They issued an “overweight” rating and a $270.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $246.63.

Fabrinet Stock Performance

Shares of FN stock opened at $222.73 on Wednesday. The firm has a market cap of $8.08 billion, a P/E ratio of 24.91 and a beta of 0.89. The business’s 50 day moving average price is $219.08 and its 200-day moving average price is $230.48. Fabrinet has a fifty-two week low of $159.69 and a fifty-two week high of $281.79.

Fabrinet (NYSE:FN) last released its earnings results on Monday, February 3rd. The technology company reported $2.38 EPS for the quarter, missing analysts’ consensus estimates of $2.48 by ($0.10). Fabrinet had a net margin of 10.44% and a return on equity of 18.48%. As a group, equities analysts predict that Fabrinet will post 9.4 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.