EFG Asset Management North America Corp. Purchases Shares of 7,849 Fabrinet (NYSE:FN)

EFG Asset Management North America Corp. acquired a new position in shares of Fabrinet (NYSE:FN) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 7,849 shares of the technology company’s stock, valued at approximately $1,726,000.

A number of other institutional investors and hedge funds have also made changes to their positions in FN. Point72 Asia Singapore Pte. Ltd. purchased a new position in Fabrinet in the third quarter valued at approximately $52,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Fabrinet in the third quarter worth $61,000. IFP Advisors Inc raised its stake in shares of 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 acquiring an additional 242 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in shares of Fabrinet during the 3rd quarter valued at $70,000. Finally, Transamerica Financial Advisors Inc. purchased a new stake in Fabrinet during the 3rd quarter worth $114,000. 97.38% of the stock is currently owned by institutional investors and hedge funds.

Fabrinet Stock Down 3.7 %

FN stock opened at $222.77 on Wednesday. The company has a market capitalization of $8.08 billion, a PE ratio of 24.92 and a beta of 0.89. The stock’s 50 day moving average is $218.64 and its two-hundred day moving average is $230.46. Fabrinet has a 52-week low of $159.69 and a 52-week high of $281.79.

Fabrinet (NYSE:FN) last posted 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%. As a group, sell-side analysts anticipate that Fabrinet will post 9.4 EPS for the current year.

Analyst Ratings Changes

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

Fabrinet 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.