JSF Financial LLC Takes Position in Fabrinet (NYSE:FN)

JSF Financial LLC purchased a new position in shares of Fabrinet (NYSE:FN) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 3,481 shares of the technology company’s stock, valued at approximately $765,000.

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

Fabrinet Price Performance

NYSE:FN opened at $210.99 on Tuesday. The firm has a 50 day simple moving average of $229.66 and a 200-day simple moving average of $233.72. The firm has a market cap of $7.65 billion, a PE ratio of 23.60 and a beta of 0.92. Fabrinet has a 1-year low of $159.69 and a 1-year high of $281.79.

Fabrinet (NYSE:FN) last posted its quarterly earnings data on Monday, February 3rd. The technology company reported $2.38 earnings per share 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, sell-side analysts expect that Fabrinet will post 9.4 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on FN. Rosenblatt Securities lifted their target price on shares of Fabrinet from $280.00 to $285.00 and gave the company a “buy” rating in a report on Tuesday, February 4th. JPMorgan Chase & Co. decreased their price objective on shares of Fabrinet from $275.00 to $265.00 and set a “neutral” rating on the stock in a report on Tuesday, February 4th. Needham & Company LLC reissued a “buy” rating and set a $280.00 price objective on shares of Fabrinet in a report on Tuesday, February 4th. 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. Finally, Barclays cut their target price on shares of Fabrinet from $292.00 to $245.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 4th. One 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. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $243.29.

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.