Level Four Advisory Services LLC Buys 2,053 Shares of Fabrinet (NYSE:FN)

Level Four Advisory Services LLC grew its stake in Fabrinet (NYSE:FN) by 33.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 8,209 shares of the technology company’s stock after buying an additional 2,053 shares during the period. Level Four Advisory Services LLC’s holdings in Fabrinet were worth $1,805,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in FN. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Fabrinet during the third quarter worth about $52,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Fabrinet during the 3rd quarter worth approximately $61,000. IFP Advisors Inc increased its position in shares of Fabrinet by 576.2% during the fourth quarter. IFP Advisors Inc now owns 284 shares of the technology company’s stock valued at $63,000 after purchasing an additional 242 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in shares of Fabrinet in the third quarter valued at $70,000. Finally, Assetmark Inc. lifted its position in Fabrinet by 12.0% in the fourth quarter. Assetmark Inc. now owns 484 shares of the technology company’s stock worth $106,000 after purchasing an additional 52 shares during the period. Institutional investors own 97.38% of the company’s stock.

Analyst Upgrades and Downgrades

FN has been the subject of a number of recent research reports. Rosenblatt Securities restated a “buy” rating and issued a $285.00 price objective on shares of Fabrinet in a research note on Friday, March 14th. Barclays dropped their price target on shares of Fabrinet from $292.00 to $245.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 4th. Fox Advisors assumed coverage on Fabrinet in a report on Tuesday, February 18th. They set an “overweight” rating and a $270.00 price objective on the stock. JPMorgan Chase & Co. dropped their target price on Fabrinet from $275.00 to $265.00 and set a “neutral” rating for the company in a report on Tuesday, February 4th. Finally, Needham & Company LLC restated a “buy” rating and set a $280.00 target price on shares of Fabrinet in a research report on Monday, March 17th. One 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. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $250.43.

Fabrinet Trading Down 5.3 %

NYSE FN opened at $195.58 on Friday. Fabrinet has a 1-year low of $159.69 and a 1-year high of $281.79. The company has a 50 day moving average of $216.64 and a 200-day moving average of $230.21. The firm has a market cap of $7.09 billion, a price-to-earnings ratio of 21.88 and a beta of 0.89.

Fabrinet (NYSE:FN) last released its quarterly earnings results on Monday, February 3rd. The technology company reported $2.38 earnings per share for the quarter, missing analysts’ consensus estimates of $2.48 by ($0.10). Fabrinet had a net margin of 10.44% and a return on equity of 18.48%. On average, analysts forecast that Fabrinet will post 9.4 earnings per share for the current year.

About Fabrinet

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.