Emerald Mutual Fund Advisers Trust Increases Holdings in Fabrinet (NYSE:FN)

Emerald Mutual Fund Advisers Trust boosted its stake in shares of Fabrinet (NYSE:FN) by 10.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 76,647 shares of the technology company’s stock after acquiring an additional 7,091 shares during the quarter. Emerald Mutual Fund Advisers Trust owned about 0.21% of Fabrinet worth $16,853,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Lido Advisors LLC grew its holdings in shares of Fabrinet by 25.2% in the fourth quarter. Lido Advisors LLC now owns 1,161 shares of the technology company’s stock worth $255,000 after purchasing an additional 234 shares during the last quarter. Northern Trust Corp boosted its position in Fabrinet by 14.6% in the 4th quarter. Northern Trust Corp now owns 499,356 shares of the technology company’s stock valued at $109,798,000 after buying an additional 63,686 shares during the period. Tudor Investment Corp ET AL grew its stake in Fabrinet by 0.3% in the 4th quarter. Tudor Investment Corp ET AL now owns 98,866 shares of the technology company’s stock worth $21,739,000 after acquiring an additional 344 shares in the last quarter. Quarry LP increased its position in shares of Fabrinet by 315.8% during the fourth quarter. Quarry LP now owns 237 shares of the technology company’s stock worth $52,000 after acquiring an additional 180 shares during the period. Finally, Susquehanna Fundamental Investments LLC bought a new stake in shares of Fabrinet during the fourth quarter valued at approximately $460,000. 97.38% of the stock is currently owned by hedge funds and other institutional investors.

Fabrinet Stock Performance

NYSE:FN opened at $203.32 on Tuesday. The company has a fifty day moving average of $199.28 and a two-hundred day moving average of $222.48. The stock has a market capitalization of $7.28 billion, a PE ratio of 22.74 and a beta of 0.97. Fabrinet has a fifty-two week low of $148.55 and a fifty-two week high of $281.79.

Fabrinet (NYSE:FN) last announced 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 return on equity of 18.48% and a net margin of 10.44%. Research analysts forecast that Fabrinet will post 9.4 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. 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 price objective on the stock. Rosenblatt Securities decreased their price target on shares of Fabrinet from $280.00 to $230.00 and set a “buy” rating for the company in a report on Tuesday, April 22nd. Barclays lowered their price target on Fabrinet from $292.00 to $245.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 4th. Needham & Company LLC reaffirmed a “buy” rating and issued a $280.00 price objective on shares of Fabrinet in a report on Monday, March 17th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Fabrinet from $265.00 to $220.00 and set a “neutral” rating on the stock in a research note on Thursday, April 17th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Fabrinet presently has an average rating of “Hold” and an average price target of $235.86.

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.