Hancock Whitney Corp Increases Holdings in Fabrinet (NYSE:FN)

Hancock Whitney Corp boosted its position in shares of Fabrinet (NYSE:FN) by 228.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,092 shares of the technology company’s stock after purchasing an additional 2,151 shares during the quarter. Hancock Whitney Corp’s holdings in Fabrinet were worth $680,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of FN. Assetmark Inc. grew its stake in Fabrinet by 12.0% during the 4th quarter. Assetmark Inc. now owns 484 shares of the technology company’s stock worth $106,000 after buying an additional 52 shares during the last quarter. CIBC Asset Management Inc grew its stake in shares of Fabrinet by 5.7% during the fourth 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 grew its stake in shares of Fabrinet by 2.4% during the fourth quarter. Nations Financial Group Inc. IA ADV now owns 2,941 shares of the technology company’s stock worth $647,000 after acquiring an additional 68 shares during the last quarter. Janney Montgomery Scott LLC raised its position in shares of Fabrinet by 2.6% in the 4th quarter. Janney Montgomery Scott LLC now owns 3,279 shares of the technology company’s stock valued at $721,000 after purchasing an additional 82 shares during 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 in the last quarter. 97.38% of the stock is owned by institutional investors.

Fabrinet Trading Up 0.8 %

Shares of NYSE:FN opened at $200.54 on Friday. Fabrinet has a 12-month low of $148.55 and a 12-month high of $281.79. The business has a 50 day moving average of $199.99 and a two-hundred day moving average of $223.12. The company has a market capitalization of $7.19 billion, a PE ratio of 22.43 and a beta of 0.97.

Fabrinet (NYSE:FN) last posted 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 fiscal year.

Analyst Ratings Changes

A number of research firms have issued reports on FN. Needham & Company LLC reaffirmed a “buy” rating and issued a $280.00 price target on shares of Fabrinet in a report on Monday, March 17th. Fox Advisors began coverage on Fabrinet in a research report on Tuesday, February 18th. They set an “overweight” rating and a $270.00 price target for the company. B. Riley raised Fabrinet from a “sell” rating to a “neutral” rating and cut their price objective for the company from $178.00 to $176.00 in a report on Friday, April 4th. Rosenblatt Securities decreased their target price on Fabrinet from $280.00 to $230.00 and set a “buy” rating for the company in a report on Tuesday, April 22nd. Finally, Barclays cut their price target on shares of Fabrinet from $292.00 to $245.00 and set an “equal weight” rating on the stock in a 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, Fabrinet presently has a consensus rating of “Hold” and a consensus price target of $235.86.

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.