Neuberger Berman Group LLC Sells 3,412 Shares of Fabrinet (NYSE:FN)

Neuberger Berman Group LLC lowered its stake in Fabrinet (NYSE:FN) by 2.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 146,045 shares of the technology company’s stock after selling 3,412 shares during the period. Neuberger Berman Group LLC owned 0.40% of Fabrinet worth $32,059,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of FN. Assetmark Inc. increased its stake in shares of Fabrinet by 12.0% in the fourth quarter. Assetmark Inc. now owns 484 shares of the technology company’s stock valued at $106,000 after buying an additional 52 shares during the period. CIBC Asset Management Inc grew its holdings 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. Nations Financial Group Inc. IA ADV increased its position in Fabrinet by 2.4% in the 4th quarter. Nations Financial Group Inc. IA ADV now owns 2,941 shares of the technology company’s stock valued at $647,000 after acquiring an additional 68 shares during the period. Janney Montgomery Scott LLC raised its stake in shares of Fabrinet by 2.6% during the fourth quarter. Janney Montgomery Scott LLC now owns 3,279 shares of the technology company’s stock valued at $721,000 after acquiring an additional 82 shares during the last quarter. Finally, Transamerica Financial Advisors Inc. lifted its holdings in shares of 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 purchasing an additional 83 shares during the period. Institutional investors own 97.38% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on FN. JPMorgan Chase & Co. decreased their price objective on Fabrinet from $275.00 to $265.00 and set a “neutral” rating for the company in a report on Tuesday, February 4th. 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 objective on shares of Fabrinet in a research report on Friday, March 14th. Needham & Company LLC reiterated a “buy” rating and issued a $280.00 target price on shares of Fabrinet in a report on Monday, March 17th. Finally, Fox Advisors began coverage on shares of Fabrinet in a research report on Tuesday, February 18th. They set an “overweight” rating and a $270.00 target price for the company. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Fabrinet presently has an average rating of “Hold” and a consensus target price of $250.14.

Fabrinet Price Performance

Shares of NYSE:FN opened at $183.13 on Friday. Fabrinet has a 1 year low of $148.55 and a 1 year high of $281.79. The business’s 50-day moving average is $206.54 and its 200-day moving average is $227.03. The company has a market capitalization of $6.64 billion, a price-to-earnings ratio of 20.48 and a beta of 0.97.

Fabrinet (NYSE:FN) last issued its earnings results 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 return on equity of 18.48% and a net margin of 10.44%. Analysts anticipate that Fabrinet will post 9.4 EPS for the current year.

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.