Counterpoint Mutual Funds LLC Acquires 289 Shares of Fabrinet (NYSE:FN)

Counterpoint Mutual Funds LLC increased its holdings in Fabrinet (NYSE:FN) by 29.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,261 shares of the technology company’s stock after purchasing an additional 289 shares during the quarter. Counterpoint Mutual Funds LLC’s holdings in Fabrinet were worth $277,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Cibc World Markets Corp purchased a new stake in Fabrinet in the 4th quarter valued at about $750,000. Polen Capital Management LLC purchased a new stake in Fabrinet in the 4th quarter valued at about $2,772,000. First Eagle Investment Management LLC increased its stake in Fabrinet by 24.8% in the 4th quarter. First Eagle Investment Management LLC now owns 60,040 shares of the technology company’s stock valued at $13,202,000 after buying an additional 11,936 shares during the last quarter. Commonwealth Equity Services LLC increased its stake in Fabrinet by 11.0% in the 4th quarter. Commonwealth Equity Services LLC now owns 3,940 shares of the technology company’s stock valued at $866,000 after buying an additional 391 shares during the last quarter. Finally, Bowen Hanes & Co. Inc. increased its stake in Fabrinet by 5.7% in the 4th quarter. Bowen Hanes & Co. Inc. now owns 148,000 shares of the technology company’s stock valued at $32,542,000 after buying an additional 8,000 shares during the last quarter. Institutional investors own 97.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. Rosenblatt Securities reissued a “buy” rating and set a $285.00 target price on shares of Fabrinet in a research report on Friday, March 14th. JPMorgan Chase & Co. reduced their target price on shares of Fabrinet from $275.00 to $265.00 and set a “neutral” rating for the company in a research report on Tuesday, February 4th. 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. Barclays reduced their price objective on shares of Fabrinet from $292.00 to $245.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 4th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $280.00 price objective on shares of Fabrinet in a research note on Monday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $246.63.

Fabrinet Stock Performance

Shares of FN opened at $222.73 on Wednesday. The stock’s 50-day simple moving average is $219.08 and its 200 day simple moving average is $230.48. The stock has a market capitalization of $8.08 billion, a price-to-earnings ratio of 24.91 and a beta of 0.89. Fabrinet has a 52-week low of $159.69 and a 52-week high of $281.79.

Fabrinet (NYSE:FN) last released its quarterly earnings results 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, research analysts forecast 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.