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

Intech Investment Management LLC raised its holdings in shares of Fabrinet (NYSE:FN - Free Report) by 33.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,088 shares of the technology company's stock after purchasing an additional 8,553 shares during the quarter. Intech Investment Management LLC owned approximately 0.09% of Fabrinet worth $7,495,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on FN shares. Barclays dropped their target price on Fabrinet from $292.00 to $245.00 and set an "equal weight" rating for the company in a report on Tuesday, February 4th. Rosenblatt Securities reiterated a "buy" rating and issued a $285.00 price objective on shares of Fabrinet in a research note on Friday, March 14th. 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. Fox Advisors initiated coverage on shares of Fabrinet in a report on Tuesday, February 18th. They set an "overweight" rating and a $270.00 target price on the stock. Finally, JPMorgan Chase & Co. cut their price target on Fabrinet from $275.00 to $265.00 and set a "neutral" rating for the company in a research note on Tuesday, February 4th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $250.43.

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Fabrinet Stock Performance

Shares of Fabrinet stock traded down $1.50 on Friday, reaching $220.57. 650,850 shares of the stock were exchanged, compared to its average volume of 546,283. The firm's 50 day moving average is $218.54 and its 200-day moving average is $230.29. The firm has a market cap of $8.00 billion, a PE ratio of 24.67 and a beta of 0.89. Fabrinet has a one year low of $159.69 and a one year high of $281.79.

Fabrinet (NYSE:FN - Get Free Report) last issued its 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, equities research analysts expect that Fabrinet will post 9.4 EPS for the current fiscal 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.