Intrust Bank NA Makes New $218,000 Investment in Fabrinet (NYSE:FN)

Intrust Bank NA purchased a new stake in Fabrinet (NYSE:FN) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 991 shares of the technology company’s stock, valued at approximately $218,000.

Other institutional investors also recently modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. bought a new position in Fabrinet in the third quarter valued at about $52,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Fabrinet in the 3rd quarter valued at approximately $61,000. IFP Advisors Inc grew its holdings in shares of Fabrinet by 576.2% during the 4th quarter. IFP Advisors Inc now owns 284 shares of the technology company’s stock valued at $63,000 after purchasing an additional 242 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Fabrinet during the 3rd quarter worth approximately $70,000. Finally, Assetmark Inc. lifted its stake 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 purchasing an additional 52 shares during the last quarter. Institutional investors and hedge funds own 97.38% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $280.00 target price on shares of Fabrinet in a research note on Monday, March 17th. JPMorgan Chase & Co. reduced their price objective on Fabrinet from $275.00 to $265.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 4th. Fox Advisors initiated coverage on Fabrinet in a research report on Tuesday, February 18th. They issued an “overweight” rating and a $270.00 target price for the company. Rosenblatt Securities reissued a “buy” rating and set a $285.00 price target on shares of Fabrinet in a research note on Friday, March 14th. Finally, Barclays lowered their price objective on Fabrinet from $292.00 to $245.00 and set an “equal weight” 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 issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $250.43.

Fabrinet Price Performance

Fabrinet stock opened at $195.58 on Monday. The firm has a market cap of $7.09 billion, a P/E ratio of 21.88 and a beta of 0.89. The stock’s 50 day moving average is $216.64 and its 200 day moving average is $230.31. Fabrinet has a one year low of $159.69 and a one year high of $281.79.

Fabrinet (NYSE:FN) last posted its quarterly earnings data on Monday, February 3rd. The technology company reported $2.38 EPS for the quarter, missing analysts’ consensus estimates of $2.48 by ($0.10). Fabrinet had a net margin of 10.44% and a return on equity of 18.48%. Equities analysts anticipate that Fabrinet will post 9.4 earnings per share for the current fiscal year.

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.