Epoch Investment Partners Inc. Raises Stock Position in Fabrinet (NYSE:FN)

Epoch Investment Partners Inc. lifted its stake in Fabrinet (NYSE:FN) by 1.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 345,065 shares of the technology company’s stock after buying an additional 6,234 shares during the period. Epoch Investment Partners Inc. owned approximately 0.95% of Fabrinet worth $75,873,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FN. Huntington National Bank raised its position in Fabrinet by 66.7% in the 4th quarter. Huntington National Bank now owns 230 shares of the technology company’s stock valued at $51,000 after purchasing an additional 92 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of Fabrinet in the third quarter valued at about $61,000. IFP Advisors Inc boosted its stake in shares of Fabrinet by 576.2% during the fourth quarter. IFP Advisors Inc now owns 284 shares of the technology company’s stock worth $63,000 after buying an additional 242 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in shares of Fabrinet during the third quarter worth about $70,000. Finally, Assetmark Inc. increased its position in Fabrinet by 12.0% in the 4th quarter. Assetmark Inc. now owns 484 shares of the technology company’s stock valued at $106,000 after acquiring an additional 52 shares during the period. 97.38% of the stock is currently owned by institutional investors and hedge funds.

Fabrinet Stock Down 1.6 %

FN opened at $183.63 on Friday. The company has a 50 day moving average of $203.49 and a two-hundred day moving average of $225.13. Fabrinet has a 52-week low of $148.55 and a 52-week high of $281.79. The company has a market cap of $6.58 billion, a P/E ratio of 20.54 and a beta of 0.97.

Fabrinet (NYSE:FN) last announced its quarterly earnings results on Monday, February 3rd. The technology company reported $2.38 earnings per share (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%. Research analysts anticipate that Fabrinet will post 9.4 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. B. Riley raised shares of Fabrinet from a “sell” rating to a “neutral” rating and dropped their price objective for the company from $178.00 to $176.00 in a research note on Friday, April 4th. Needham & Company LLC reiterated a “buy” rating and set a $280.00 price target on shares of Fabrinet in a research note on Monday, March 17th. Rosenblatt Securities reissued a “buy” rating and set a $285.00 price target on shares of Fabrinet in a report on Friday, March 14th. Barclays lowered their price objective on Fabrinet from $292.00 to $245.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 4th. Finally, JPMorgan Chase & Co. cut their target price on Fabrinet from $265.00 to $220.00 and set a “neutral” rating for the company in a research note on Thursday. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $243.71.

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.