Pacer Advisors Inc. Has $2.41 Million Stock Holdings in Fabrinet (NYSE:FN)

Pacer Advisors Inc. reduced its position in shares of Fabrinet (NYSE:FN) by 2.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 10,966 shares of the technology company’s stock after selling 293 shares during the period. Pacer Advisors Inc.’s holdings in Fabrinet were worth $2,411,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Wedge Capital Management L L P NC acquired a new position in shares of Fabrinet during the fourth quarter worth approximately $63,222,000. Whale Rock Capital Management LLC increased its stake in Fabrinet by 25.8% during the 3rd quarter. Whale Rock Capital Management LLC now owns 855,767 shares of the technology company’s stock valued at $202,338,000 after purchasing an additional 175,684 shares in the last quarter. Clearbridge Investments LLC acquired a new position in Fabrinet during the second quarter worth $27,911,000. World Investment Advisors LLC bought a new position in shares of Fabrinet in the third quarter valued at $20,187,000. Finally, DekaBank Deutsche Girozentrale grew its holdings in shares of Fabrinet by 3,831.4% during the third quarter. DekaBank Deutsche Girozentrale now owns 82,088 shares of the technology company’s stock valued at $19,465,000 after buying an additional 80,000 shares during the last quarter. Institutional investors own 97.38% of the company’s stock.

Fabrinet Trading Up 1.5 %

Shares of FN opened at $215.99 on Friday. The stock has a 50 day moving average of $231.33 and a 200 day moving average of $235.07. The company has a market capitalization of $7.83 billion, a price-to-earnings ratio of 25.56 and a beta of 0.93. Fabrinet has a 12 month low of $159.69 and a 12 month high of $281.79.

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

Analyst Ratings Changes

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

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.