EFG Asset Management North America Corp. Takes $1.73 Million Position in Fabrinet (NYSE:FN)

EFG Asset Management North America Corp. purchased a new stake in shares of Fabrinet (NYSE:FN) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 7,849 shares of the technology company’s stock, valued at approximately $1,726,000.

Several other large investors have also recently added to or reduced their stakes in FN. Barclays PLC lifted its position in shares of Fabrinet by 304.6% in the 3rd quarter. Barclays PLC now owns 69,128 shares of the technology company’s stock worth $16,345,000 after buying an additional 52,042 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Fabrinet by 14.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 480,550 shares of the technology company’s stock worth $113,621,000 after acquiring an additional 61,491 shares during the period. Pathstone Holdings LLC lifted its holdings in Fabrinet by 40.7% in the third quarter. Pathstone Holdings LLC now owns 8,219 shares of the technology company’s stock worth $1,943,000 after acquiring an additional 2,378 shares during the last quarter. Freedom Investment Management Inc. boosted its stake in Fabrinet by 106.2% in the third quarter. Freedom Investment Management Inc. now owns 4,969 shares of the technology company’s stock valued at $1,175,000 after acquiring an additional 2,559 shares during the period. Finally, Salem Investment Counselors Inc. bought a new position in shares of Fabrinet during the fourth quarter valued at approximately $518,000. 97.38% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on FN shares. Rosenblatt Securities reissued a “buy” rating and issued a $285.00 price target on shares of Fabrinet in a report on Friday, March 14th. JPMorgan Chase & Co. dropped their target price on Fabrinet from $275.00 to $265.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 4th. Needham & Company LLC reissued a “buy” rating and set a $280.00 price target on shares of Fabrinet in a report on Monday, March 17th. Barclays dropped their price objective on shares of Fabrinet from $292.00 to $245.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 4th. Finally, Fox Advisors began coverage on shares of Fabrinet in a research note on Tuesday, February 18th. They set an “overweight” rating and a $270.00 target price for the company. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $250.43.

Fabrinet Stock Down 3.7 %

Shares of NYSE FN opened at $222.77 on Wednesday. The stock has a market cap of $8.08 billion, a P/E ratio of 24.92 and a beta of 0.89. The firm’s 50-day simple moving average is $218.64 and its 200 day simple moving average is $230.46. Fabrinet has a fifty-two week low of $159.69 and a fifty-two week high of $281.79.

Fabrinet (NYSE:FN) last released 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, sell-side analysts anticipate that Fabrinet will post 9.4 earnings per share 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.