Intech Investment Management LLC Has $7.50 Million Holdings in Fabrinet (NYSE:FN)

Intech Investment Management LLC increased its position in shares of Fabrinet (NYSE:FN) by 33.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 34,088 shares of the technology company’s stock after buying an additional 8,553 shares during the period. Intech Investment Management LLC owned 0.09% of Fabrinet worth $7,495,000 at the end of the most recent reporting period.

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

Fabrinet Stock Up 0.6 %

FN stock opened at $222.73 on Wednesday. The firm has a market capitalization of $8.08 billion, a PE ratio of 24.91 and a beta of 0.89. Fabrinet has a twelve month low of $159.69 and a twelve month high of $281.79. The stock’s 50 day moving average is $219.08 and its 200-day moving average is $230.48.

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

Analysts Set New Price Targets

FN has been the topic of several research reports. JPMorgan Chase & Co. dropped their price objective 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. Rosenblatt Securities reiterated a “buy” rating and issued a $285.00 price target on shares of Fabrinet in a report on Friday, March 14th. 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 note on Tuesday, February 4th. B. Riley lowered Fabrinet from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $194.00 to $178.00 in a research report on Wednesday, November 20th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $280.00 price target on shares of Fabrinet in a research report on Monday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average 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.