Archford Capital Strategies LLC Acquires 84 Shares of Fabrinet (NYSE:FN)

Archford Capital Strategies LLC boosted its holdings in shares of Fabrinet (NYSE:FN) by 4.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,886 shares of the technology company’s stock after acquiring an additional 84 shares during the period. Archford Capital Strategies LLC’s holdings in Fabrinet were worth $415,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Huntington National Bank increased its stake in shares of Fabrinet by 70.4% during the third quarter. Huntington National Bank now owns 138 shares of the technology company’s stock valued at $33,000 after purchasing an additional 57 shares in the last quarter. Kimelman & Baird LLC purchased a new stake in shares of Fabrinet in the 2nd quarter worth approximately $49,000. NBC Securities Inc. increased its position in Fabrinet by 732.0% during the 3rd quarter. NBC Securities Inc. now owns 208 shares of the technology company’s stock valued at $49,000 after buying an additional 183 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in Fabrinet during the third quarter valued at $52,000. Finally, UMB Bank n.a. raised its stake in Fabrinet by 252.9% during the third quarter. UMB Bank n.a. now owns 240 shares of the technology company’s stock valued at $57,000 after buying an additional 172 shares during the last quarter. Institutional investors own 97.38% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. B. Riley downgraded Fabrinet from a “neutral” rating to a “sell” rating and reduced their price target for the company from $194.00 to $178.00 in a report on Wednesday, November 20th. Barclays assumed coverage on shares of Fabrinet in a research note on Thursday, November 14th. They set an “equal weight” rating and a $292.00 price objective for the company. Finally, Needham & Company LLC assumed coverage on shares of Fabrinet in a report on Tuesday, November 5th. They issued a “buy” rating and a $280.00 target price for the company. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, Fabrinet currently has a consensus rating of “Hold” and an average target price of $252.14.

Fabrinet Stock Performance

Shares of NYSE:FN opened at $258.14 on Monday. The firm has a market cap of $9.36 billion, a price-to-earnings ratio of 30.55 and a beta of 0.93. The business has a 50-day simple moving average of $233.48 and a two-hundred day simple moving average of $236.08. Fabrinet has a fifty-two week low of $159.69 and a fifty-two week high of $281.79.

Fabrinet (NYSE:FN) last released its quarterly earnings data on Monday, November 4th. The technology company reported $2.39 earnings per share for the quarter, beating the consensus estimate of $2.38 by $0.01. Fabrinet had a net margin of 10.28% and a return on equity of 18.08%. The firm had revenue of $804.20 million during the quarter, compared to analysts’ expectations of $771.24 million. During the same period in the previous year, the company earned $1.78 earnings per share. The firm’s quarterly revenue was up 17.3% on a year-over-year basis. As a group, research analysts predict that Fabrinet will post 9.1 earnings per share for the current year.

Fabrinet Company 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.