Thrivent Financial for Lutherans Sells 36,004 Shares of Fabrinet (NYSE:FN)

Thrivent Financial for Lutherans lowered its stake in Fabrinet (NYSE:FN) by 8.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 372,142 shares of the technology company’s stock after selling 36,004 shares during the period. Thrivent Financial for Lutherans’ holdings in Fabrinet were worth $81,827,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in FN. Huntington National Bank raised its position in shares of Fabrinet by 70.4% in the 3rd quarter. Huntington National Bank now owns 138 shares of the technology company’s stock worth $33,000 after purchasing an additional 57 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Fabrinet during the 3rd quarter valued at about $52,000. Public Employees Retirement System of Ohio bought a new stake in shares of Fabrinet during the 3rd quarter valued at about $61,000. IFP Advisors Inc grew its stake in shares of Fabrinet by 576.2% during the 4th quarter. IFP Advisors Inc now owns 284 shares of the technology company’s stock valued at $63,000 after acquiring an additional 242 shares during the period. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Fabrinet during the 3rd quarter valued at approximately $70,000. Institutional investors own 97.38% of the company’s stock.

Fabrinet Stock Performance

Shares of FN opened at $222.73 on Wednesday. Fabrinet has a one year low of $159.69 and a one year high of $281.79. The stock has a market capitalization of $8.08 billion, a price-to-earnings ratio of 24.91 and a beta of 0.89. The stock has a 50 day moving average price of $219.08 and a 200 day moving average price of $230.48.

Fabrinet (NYSE:FN) last issued its quarterly earnings results on Monday, February 3rd. The technology company reported $2.38 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%. On average, analysts predict that Fabrinet will post 9.4 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Needham & Company LLC restated a “buy” rating and issued a $280.00 price target on shares of Fabrinet in a research note on Monday. Barclays decreased their price target on Fabrinet from $292.00 to $245.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 4th. Rosenblatt Securities reiterated a “buy” rating and issued a $285.00 target price on shares of Fabrinet in a research note on Friday, March 14th. B. Riley lowered Fabrinet from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $194.00 to $178.00 in a research note on Wednesday, November 20th. Finally, JPMorgan Chase & Co. dropped their price target on Fabrinet from $275.00 to $265.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 4th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $246.63.

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.