Emerald Advisers LLC Has $27.05 Million Stock Holdings in Fabrinet (NYSE:FN)

Emerald Advisers LLC lifted its position in Fabrinet (NYSE:FN) by 32.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 123,001 shares of the technology company’s stock after purchasing an additional 29,834 shares during the period. Emerald Advisers LLC’s holdings in Fabrinet were worth $27,045,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Cynosure Group LLC raised its position in shares of Fabrinet by 3.4% in the 3rd quarter. Cynosure Group LLC now owns 1,560 shares of the technology company’s stock valued at $369,000 after acquiring an additional 51 shares during the period. Assetmark Inc. raised its position in shares of Fabrinet by 12.0% in the 4th quarter. Assetmark Inc. now owns 484 shares of the technology company’s stock valued at $106,000 after acquiring an additional 52 shares during the period. CIBC Asset Management Inc raised its position in shares of Fabrinet by 5.7% in the 4th quarter. CIBC Asset Management Inc now owns 1,113 shares of the technology company’s stock valued at $245,000 after acquiring an additional 60 shares during the period. Nations Financial Group Inc. IA ADV raised its position in shares of Fabrinet by 2.4% in the 4th quarter. Nations Financial Group Inc. IA ADV now owns 2,941 shares of the technology company’s stock valued at $647,000 after acquiring an additional 68 shares during the period. Finally, 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 acquiring an additional 82 shares during the period. 97.38% of the stock is currently owned by institutional investors and hedge funds.

Fabrinet Stock Down 0.7 %

Shares of FN opened at $220.57 on Friday. The stock has a market capitalization of $8.00 billion, a P/E ratio of 24.67 and a beta of 0.89. Fabrinet has a twelve month low of $159.69 and a twelve month high of $281.79. The company has a 50 day moving average of $218.54 and a 200-day moving average of $230.29.

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

Analyst Ratings Changes

A number of brokerages recently weighed in on FN. Needham & Company LLC reiterated a “buy” rating and issued a $280.00 price target on shares of Fabrinet in a research report on Monday, March 17th. Fox Advisors started coverage on shares of Fabrinet in a report on Tuesday, February 18th. They set an “overweight” rating and a $270.00 target price on the stock. Barclays dropped their target price 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. Rosenblatt Securities restated a “buy” rating and set a $285.00 target price on shares of Fabrinet in a report on Friday, March 14th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Fabrinet from $275.00 to $265.00 and set a “neutral” rating on the stock in a report on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $250.43.

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.