Kennedy Capital Management LLC Reduces Stock Position in Fabrinet (NYSE:FN)

by · The Cerbat Gem

Kennedy Capital Management LLC trimmed its stake in shares of Fabrinet (NYSE:FN – Free Report) by 25.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 35,793 shares of the technology company’s stock after selling 12,175 shares during the period. Kennedy Capital Management LLC’s holdings in Fabrinet were worth $7,870,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Huntington National Bank raised its stake in Fabrinet by 66.7% during the 4th quarter. Huntington National Bank now owns 230 shares of the technology company’s stock valued at $51,000 after buying an additional 92 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new stake in Fabrinet during the third quarter valued at $61,000. IFP Advisors Inc lifted its holdings in Fabrinet by 576.2% in the fourth quarter. IFP Advisors Inc now owns 284 shares of the technology company’s stock valued at $63,000 after acquiring an additional 242 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in Fabrinet in the third quarter worth about $70,000. Finally, Assetmark Inc. boosted its position in Fabrinet by 12.0% in the fourth quarter. Assetmark Inc. now owns 484 shares of the technology company’s stock worth $106,000 after purchasing an additional 52 shares during the last quarter. Institutional investors own 97.38% of the company’s stock.

Fabrinet Trading Down 9.3 %

NYSE FN opened at $183.13 on Friday. Fabrinet has a 12 month low of $148.55 and a 12 month high of $281.79. The stock has a market cap of $6.64 billion, a PE ratio of 20.48 and a beta of 0.97. The stock’s 50 day moving average is $206.54 and its 200 day moving average is $227.03.

Fabrinet (NYSE:FN – Get Free Report) last released its earnings results on Monday, February 3rd. The technology company reported $2.38 EPS for the quarter, missing the consensus estimate of $2.48 by ($0.10). Fabrinet had a return on equity of 18.48% and a net margin of 10.44%. On average, analysts forecast that Fabrinet will post 9.4 EPS for the current fiscal year.

Analyst Ratings Changes

FN has been the topic of several recent research reports. Barclays decreased their price target on shares of 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 reissued a “buy” rating and set a $285.00 price target on shares of Fabrinet in a report on Friday, March 14th. JPMorgan Chase & Co. decreased their price objective on Fabrinet from $275.00 to $265.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 4th. Needham & Company LLC reissued a “buy” rating and issued a $280.00 target price on shares of Fabrinet in a report on Monday, March 17th. Finally, Fox Advisors started coverage on shares of Fabrinet in a research note on Tuesday, February 18th. They set an “overweight” rating and a $270.00 target price on the stock. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $250.14.

Get Our Latest Analysis on Fabrinet

About Fabrinet

(Free Report)

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.

Featured Stories

Want to see what other hedge funds are holding FN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fabrinet (NYSE:FN – Free Report).