Poehling Capital Management INC. bought a new position in shares of Fabrinet (NYSE:FN – Free Report) in the fourth quarter, Holdings Channel reports. The fund bought 880 shares of the technology company’s stock, valued at approximately $401,000.
A number of other hedge funds and other institutional investors also recently modified their holdings of FN. Westend Capital Management LLC acquired a new stake in shares of Fabrinet during the fourth quarter worth $29,000. Creative Financial Designs Inc. ADV bought a new position in shares of Fabrinet in the fourth quarter worth $32,000. Root Financial Partners LLC bought a new position in shares of Fabrinet in the third quarter worth $34,000. Rakuten Securities Inc. increased its position in shares of Fabrinet by 340.9% in the fourth quarter. Rakuten Securities Inc. now owns 97 shares of the technology company’s stock worth $44,000 after purchasing an additional 75 shares during the period. Finally, USA Financial Formulas bought a new position in shares of Fabrinet in the fourth quarter worth $49,000. Institutional investors and hedge funds own 97.38% of the company’s stock.
Fabrinet Stock Down 3.5%
Fabrinet stock opened at $676.01 on Wednesday. Fabrinet has a 12-month low of $222.66 and a 12-month high of $748.89. The business’s 50-day moving average price is $613.40 and its two-hundred day moving average price is $524.79. The stock has a market cap of $24.22 billion, a PE ratio of 58.08 and a beta of 1.22.
Wall Street Analysts Forecast Growth
A number of research analysts recently commented on FN shares. Northland Securities set a $800.00 price target on Fabrinet in a research report on Monday, April 20th. Susquehanna raised their price target on Fabrinet from $550.00 to $570.00 and gave the stock a “positive” rating in a research report on Thursday, January 22nd. Zacks Research upgraded Fabrinet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 5th. Barclays raised their price target on Fabrinet from $548.00 to $702.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 5th. Finally, Weiss Ratings upgraded Fabrinet from a “hold (c+)” rating to a “buy (b)” rating in a research report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $661.75.
Get Our Latest Research Report on Fabrinet
Fabrinet Profile
Fabrinet is a global provider of advanced optical packaging and precision optical, electro‐mechanical and electronic manufacturing services (CEM). The company specializes in complex manufacturing processes for original equipment manufacturers (OEMs) in communications, data center, industrial, instrumentation and medical markets. Key capabilities include high‐precision fiber alignment, micro‐assembly, testing and diagnostics, and integration of electro‐optic subassemblies.
Incorporated in 2000, Fabrinet operates under a corporate structure headquartered in Singapore with additional regional offices and design centers in the Americas, Europe and Asia.
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