Ieq Capital LLC Invests $252,000 in Fabrinet (NYSE:FN)

Ieq Capital LLC bought a new stake in Fabrinet (NYSE:FN) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,144 shares of the technology company’s stock, valued at approximately $252,000.

A number of other large investors have also added to or reduced their stakes in FN. Huntington National Bank boosted its stake in shares of Fabrinet by 70.4% in the 3rd quarter. Huntington National Bank now owns 138 shares of the technology company’s stock valued at $33,000 after purchasing an additional 57 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Fabrinet during the third quarter valued at about $52,000. Public Employees Retirement System of Ohio bought a new position in shares of Fabrinet during the third quarter valued at about $61,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Fabrinet in the 3rd quarter valued at about $70,000. Finally, Assetmark Inc. boosted its holdings in Fabrinet by 468.4% during the 3rd quarter. Assetmark Inc. now owns 432 shares of the technology company’s stock valued at $102,000 after acquiring an additional 356 shares during the period. Hedge funds and other institutional investors own 97.38% of the company’s stock.

Fabrinet Trading Up 2.0 %

Shares of FN opened at $199.19 on Friday. Fabrinet has a 1-year low of $159.69 and a 1-year high of $281.79. The firm has a market capitalization of $7.22 billion, a price-to-earnings ratio of 22.28 and a beta of 0.92. The firm’s 50-day moving average price is $223.90 and its 200-day moving average price is $234.20.

Fabrinet (NYSE:FN) last posted 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 return on equity of 18.48% and a net margin of 10.44%. On average, research analysts forecast that Fabrinet will post 9.4 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

FN has been the topic of a number of analyst reports. JPMorgan Chase & Co. decreased their price target on Fabrinet from $275.00 to $265.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 4th. B. Riley downgraded shares of Fabrinet from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $194.00 to $178.00 in a research note on Wednesday, November 20th. Fox Advisors initiated coverage on shares of Fabrinet in a report on Tuesday, February 18th. They issued an “overweight” rating and a $270.00 price target on the stock. Needham & Company LLC restated a “buy” rating and issued a $280.00 price objective on shares of Fabrinet in a research report on Tuesday, February 4th. Finally, Barclays dropped their target price on shares of Fabrinet from $292.00 to $245.00 and set an “equal weight” rating for the company in a report on Tuesday, February 4th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $246.63.

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.