KBC Group NV Has $152,000 Stock Position in Fabrinet (NYSE:FN)

KBC Group NV reduced its position in Fabrinet (NYSE:FNFree Report) by 70.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 797 shares of the technology company’s stock after selling 1,912 shares during the period. KBC Group NV’s holdings in Fabrinet were worth $152,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of FN. Park Place Capital Corp acquired a new stake in Fabrinet in the 4th quarter valued at about $26,000. Salem Investment Counselors Inc. acquired a new stake in Fabrinet during the fourth quarter worth approximately $29,000. GAMMA Investing LLC acquired a new stake in Fabrinet during the fourth quarter worth approximately $34,000. Parallel Advisors LLC lifted its position in Fabrinet by 59.7% during the fourth quarter. Parallel Advisors LLC now owns 206 shares of the technology company’s stock worth $39,000 after acquiring an additional 77 shares during the last quarter. Finally, Orion Capital Management LLC acquired a new stake in Fabrinet during the third quarter worth approximately $47,000. 97.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on FN shares. Needham & Company LLC restated a “buy” rating and set a $220.00 price objective on shares of Fabrinet in a research report on Tuesday, May 7th. Northland Securities raised shares of Fabrinet from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $200.00 to $220.00 in a report on Thursday, March 21st. B. Riley lowered their target price on shares of Fabrinet from $173.00 to $171.00 and set a “neutral” rating on the stock in a report on Tuesday, May 7th. Finally, JPMorgan Chase & Co. raised their target price on shares of Fabrinet from $210.00 to $212.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Fabrinet currently has a consensus rating of “Moderate Buy” and an average price target of $161.00.

Get Our Latest Stock Analysis on Fabrinet

Insiders Place Their Bets

In other Fabrinet news, Director Frank H. Levinson sold 6,000 shares of the business’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $241.71, for a total transaction of $1,450,260.00. Following the sale, the director now owns 5,709 shares of the company’s stock, valued at $1,379,922.39. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.51% of the company’s stock.

Fabrinet Price Performance

Shares of NYSE:FN opened at $237.32 on Tuesday. The company’s 50 day simple moving average is $205.01 and its 200 day simple moving average is $197.68. The stock has a market capitalization of $8.58 billion, a price-to-earnings ratio of 31.52 and a beta of 0.99. Fabrinet has a 1 year low of $114.83 and a 1 year high of $250.38.

Fabrinet (NYSE:FNGet Free Report) last announced its quarterly earnings data on Monday, May 6th. The technology company reported $2.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.93 by $0.28. The business had revenue of $731.54 million for the quarter, compared to analysts’ expectations of $718.94 million. Fabrinet had a net margin of 9.90% and a return on equity of 17.67%. As a group, analysts anticipate that Fabrinet will post 7.95 EPS for the current fiscal year.

Fabrinet Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Fabrinet (NYSE:FN)

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