Intech Investment Management LLC Acquires 8,553 Shares of Fabrinet (NYSE:FN)

Intech Investment Management LLC raised its holdings in Fabrinet (NYSE:FN) by 33.5% in the fourth quarter, Holdings Channel reports. The firm owned 34,088 shares of the technology company’s stock after purchasing an additional 8,553 shares during the period. Intech Investment Management LLC’s holdings in Fabrinet were worth $7,495,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Counterpoint Mutual Funds LLC grew its position in Fabrinet by 29.7% during the fourth quarter. Counterpoint Mutual Funds LLC now owns 1,261 shares of the technology company’s stock valued at $277,000 after buying an additional 289 shares during the period. Cibc World Markets Corp bought a new position in shares of Fabrinet during the 4th quarter valued at approximately $750,000. Polen Capital Management LLC purchased a new stake in shares of Fabrinet during the 4th quarter worth approximately $2,772,000. First Eagle Investment Management LLC increased its stake in shares of Fabrinet by 24.8% during the 4th quarter. First Eagle Investment Management LLC now owns 60,040 shares of the technology company’s stock worth $13,202,000 after purchasing an additional 11,936 shares during the last quarter. Finally, Commonwealth Equity Services LLC raised its holdings in shares of Fabrinet by 11.0% in the 4th quarter. Commonwealth Equity Services LLC now owns 3,940 shares of the technology company’s stock worth $866,000 after purchasing an additional 391 shares during the period. 97.38% of the stock is owned by hedge funds and other institutional investors.

Fabrinet Price Performance

Shares of FN opened at $222.73 on Wednesday. Fabrinet has a 1-year low of $159.69 and a 1-year high of $281.79. The company has a market capitalization of $8.08 billion, a P/E ratio of 24.91 and a beta of 0.89. The firm’s 50 day simple moving average is $219.08 and its 200 day simple moving average is $230.48.

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

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on FN. JPMorgan Chase & Co. decreased 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. Barclays lowered their price objective on Fabrinet from $292.00 to $245.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 4th. Needham & Company LLC reiterated a “buy” rating and set a $280.00 target price on shares of Fabrinet in a research report on Monday. B. Riley lowered shares of Fabrinet from a “neutral” rating to a “sell” rating and lowered their price target for the company from $194.00 to $178.00 in a research report on Wednesday, November 20th. Finally, Fox Advisors began coverage on shares of Fabrinet in a report on Tuesday, February 18th. They issued an “overweight” rating and a $270.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target 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.