Fabrinet (NYSE:FN) Shares Acquired by Erste Asset Management GmbH

Erste Asset Management GmbH boosted its holdings in shares of Fabrinet (NYSE:FN) by 34.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 28,785 shares of the technology company’s stock after purchasing an additional 7,410 shares during the period. Erste Asset Management GmbH’s holdings in Fabrinet were worth $6,272,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Huntington National Bank lifted its stake in Fabrinet by 70.4% during the third quarter. Huntington National Bank now owns 138 shares of the technology company’s stock valued at $33,000 after purchasing an additional 57 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in Fabrinet in the 3rd quarter valued at approximately $52,000. Public Employees Retirement System of Ohio acquired a new position in Fabrinet in the 3rd quarter valued at approximately $61,000. IFP Advisors Inc increased its stake in Fabrinet by 576.2% in the 4th quarter. IFP Advisors Inc now owns 284 shares of the technology company’s stock valued at $63,000 after buying an additional 242 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of Fabrinet during the 3rd quarter worth $70,000. 97.38% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

FN has been the topic of a number of recent analyst reports. Needham & Company LLC reissued a “buy” rating and issued a $280.00 price objective on shares of Fabrinet in a research note on Tuesday, February 4th. Rosenblatt Securities boosted their price target on Fabrinet from $280.00 to $285.00 and gave the company a “buy” rating in a research note on Tuesday, February 4th. Barclays reduced their price objective on 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 research report on Tuesday, February 18th. They set an “overweight” rating and a $270.00 price objective on the stock. Finally, JPMorgan Chase & Co. reduced their target price on Fabrinet from $275.00 to $265.00 and set a “neutral” rating for the company in a research report on Tuesday, February 4th. One analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Fabrinet currently has a consensus rating of “Hold” and an average price target of $246.63.

Fabrinet Price Performance

Shares of FN stock opened at $223.93 on Friday. The stock’s fifty day simple moving average is $219.62 and its 200 day simple moving average is $231.20. Fabrinet has a one year low of $159.69 and a one year high of $281.79. The firm has a market cap of $8.12 billion, a price-to-earnings ratio of 25.05 and a beta of 0.89.

Fabrinet (NYSE:FN) last issued its 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 net margin of 10.44% and a return on equity of 18.48%. On average, research analysts anticipate that Fabrinet will post 9.4 earnings per share for the current year.

Fabrinet 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.