Epoch Investment Partners Inc. lessened its stake in Fabrinet (NYSE:FN – Free Report) by 4.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 374,887 shares of the technology company’s stock after selling 16,417 shares during the quarter. Fabrinet accounts for about 1.0% of Epoch Investment Partners Inc.’s investment portfolio, making the stock its 22nd biggest holding. Epoch Investment Partners Inc. owned about 1.05% of Fabrinet worth $170,679,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Core Wealth Advisors LLC acquired a new position in shares of Fabrinet in the fourth quarter valued at approximately $25,000. Westend Capital Management LLC acquired a new position in Fabrinet during the fourth quarter worth $29,000. Harbour Investments Inc. grew its position in Fabrinet by 75.0% in the fourth quarter. Harbour Investments Inc. now owns 63 shares of the technology company’s stock valued at $29,000 after purchasing an additional 27 shares in the last quarter. Creative Financial Designs Inc. ADV acquired a new stake in Fabrinet in the 4th quarter valued at $32,000. Finally, Quarry LP increased its stake in Fabrinet by 300.0% in the 4th quarter. Quarry LP now owns 72 shares of the technology company’s stock valued at $33,000 after buying an additional 54 shares during the last quarter. Institutional investors and hedge funds own 97.38% of the company’s stock.
Fabrinet Trading Up 4.5%
NYSE FN opened at $608.68 on Friday. The firm’s fifty day moving average price is $658.48 and its two-hundred day moving average price is $552.37. Fabrinet has a 1 year low of $244.24 and a 1 year high of $748.89. The firm has a market capitalization of $21.81 billion, a P/E ratio of 52.29 and a beta of 1.17.
Analyst Ratings Changes
Several equities research analysts have issued reports on FN shares. Weiss Ratings lowered shares of Fabrinet from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, May 29th. Barclays lifted their price target on shares of Fabrinet from $548.00 to $702.00 and gave the company an “overweight” rating in a research note on Tuesday, May 5th. Needham & Company LLC reiterated a “buy” rating and issued a $800.00 price target on shares of Fabrinet in a research note on Tuesday, May 5th. JPMorgan Chase & Co. lowered their price target on shares of Fabrinet from $700.00 to $680.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 5th. Finally, Rosenblatt Securities lifted their price target on shares of Fabrinet from $715.00 to $750.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $661.75.
Read Our Latest Report on Fabrinet
Insider Transactions at Fabrinet
In other Fabrinet news, Director Homa Bahrami sold 2,500 shares of the company’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $711.91, for a total transaction of $1,779,775.00. Following the sale, the director directly owned 16,233 shares of the company’s stock, valued at approximately $11,556,435.03. This represents a 13.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.24% of the company’s stock.
About Fabrinet
Fabrinet is a global provider of advanced optical packaging and precision optical, electro‐mechanical and electronic manufacturing services (CEM). The company specializes in complex manufacturing processes for original equipment manufacturers (OEMs) in communications, data center, industrial, instrumentation and medical markets. Key capabilities include high‐precision fiber alignment, micro‐assembly, testing and diagnostics, and integration of electro‐optic subassemblies.
Incorporated in 2000, Fabrinet operates under a corporate structure headquartered in Singapore with additional regional offices and design centers in the Americas, Europe and Asia.
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