Versor Investments LP Sells 2,903 Shares of Fabrinet (NYSE:FN)

Versor Investments LP cut its stake in Fabrinet (NYSE:FN) by 39.4% in the fourth quarter, HoldingsChannel.com reports. The fund owned 4,471 shares of the technology company’s stock after selling 2,903 shares during the period. Versor Investments LP’s holdings in Fabrinet were worth $983,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in FN. Huntington National Bank boosted its stake in shares of 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. Point72 Asia Singapore Pte. Ltd. purchased a new position in Fabrinet during the third quarter valued at $52,000. Public Employees Retirement System of Ohio bought a new stake in Fabrinet during the third quarter valued at about $61,000. IFP Advisors Inc grew its holdings in Fabrinet by 576.2% during the fourth quarter. IFP Advisors Inc now owns 284 shares of the technology company’s stock valued at $63,000 after purchasing an additional 242 shares during the period. Finally, Wilmington Savings Fund Society FSB purchased a new stake in Fabrinet in the third quarter worth about $70,000. 97.38% of the stock is currently owned by institutional investors.

Fabrinet Trading Down 9.2 %

Shares of FN opened at $195.50 on Friday. The business’s 50 day moving average is $224.34 and its 200 day moving average is $234.25. The company has a market capitalization of $7.09 billion, a PE ratio of 21.87 and a beta of 0.92. Fabrinet has a 12-month low of $159.69 and a 12-month high of $281.79.

Fabrinet (NYSE:FN) last issued its 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%. Equities research analysts predict that Fabrinet will post 9.4 earnings per share for the current year.

Analyst Ratings Changes

FN has been the topic of a number of analyst reports. B. Riley cut Fabrinet from a “neutral” rating to a “sell” rating and lowered their price objective for the company from $194.00 to $178.00 in a research report on Wednesday, November 20th. Needham & Company LLC reaffirmed a “buy” rating and set a $280.00 price objective on shares of Fabrinet in a research report on Tuesday, February 4th. Barclays lowered their price objective 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. JPMorgan Chase & Co. lowered 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 initiated coverage on Fabrinet in a research report on Tuesday, February 18th. They set an “overweight” rating and a $270.00 price objective on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Fabrinet currently has a consensus rating of “Hold” and a consensus price target of $246.63.

Fabrinet 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.