Invesco Ltd. Sells 122,839 Shares of Fabrinet (NYSE:FN)

Invesco Ltd. decreased its position in shares of Fabrinet (NYSE:FN) by 36.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 214,305 shares of the technology company’s stock after selling 122,839 shares during the quarter. Invesco Ltd. owned approximately 0.59% of Fabrinet worth $47,121,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Assetmark Inc. raised its holdings in Fabrinet by 12.0% during the 4th quarter. Assetmark Inc. now owns 484 shares of the technology company’s stock valued at $106,000 after acquiring an additional 52 shares during the period. CIBC Asset Management Inc raised its stake in shares of Fabrinet by 5.7% during the 4th quarter. CIBC Asset Management Inc now owns 1,113 shares of the technology company’s stock valued at $245,000 after purchasing an additional 60 shares during the period. Nations Financial Group Inc. IA ADV lifted its holdings 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 purchasing an additional 68 shares in the last quarter. Janney Montgomery Scott LLC lifted its holdings in Fabrinet by 2.6% during the 4th quarter. Janney Montgomery Scott LLC now owns 3,279 shares of the technology company’s stock worth $721,000 after purchasing an additional 82 shares in the last quarter. Finally, Transamerica Financial Advisors Inc. boosted its stake in Fabrinet by 17.2% in the 4th 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. Hedge funds and other institutional investors own 97.38% of the company’s stock.

Fabrinet Stock Performance

NYSE FN opened at $188.06 on Wednesday. Fabrinet has a 52-week low of $148.55 and a 52-week high of $281.79. The company has a fifty day moving average of $205.04 and a 200-day moving average of $226.08. The company has a market capitalization of $6.74 billion, a P/E ratio of 21.04 and a beta of 0.97.

Fabrinet (NYSE:FN) last issued its quarterly 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 return on equity of 18.48% and a net margin of 10.44%. As a group, analysts forecast that Fabrinet will post 9.4 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on FN. Fox Advisors began coverage on shares of Fabrinet in a report on Tuesday, February 18th. They issued an “overweight” rating and a $270.00 price target on the stock. Barclays lowered their target price on shares of Fabrinet from $292.00 to $245.00 and set an “equal weight” rating on the stock in a research note 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 upgraded Fabrinet from a “sell” rating to a “neutral” rating and lowered their price objective for the stock from $178.00 to $176.00 in a research report on Friday, April 4th. Finally, JPMorgan Chase & Co. reduced their target price on Fabrinet from $275.00 to $265.00 and set a “neutral” rating for the company in a research report on Tuesday, February 4th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $250.14.

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.