Epoch Investment Partners Inc. Boosts Stake in Fabrinet (NYSE:FN)

Epoch Investment Partners Inc. grew its holdings in shares of Fabrinet (NYSE:FN) by 1.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 345,065 shares of the technology company’s stock after acquiring an additional 6,234 shares during the period. Epoch Investment Partners Inc.’s holdings in Fabrinet were worth $75,873,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Vanguard Group Inc. grew its stake in Fabrinet by 2.8% during the 4th quarter. Vanguard Group Inc. now owns 4,137,579 shares of the technology company’s stock valued at $909,771,000 after purchasing an additional 113,186 shares in the last quarter. FMR LLC grew its position in shares of Fabrinet by 13.1% during the fourth quarter. FMR LLC now owns 2,213,887 shares of the technology company’s stock worth $486,789,000 after buying an additional 257,164 shares in the last quarter. Wasatch Advisors LP increased its stake in shares of Fabrinet by 47.0% in the fourth quarter. Wasatch Advisors LP now owns 1,132,636 shares of the technology company’s stock worth $249,044,000 after buying an additional 362,064 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Fabrinet by 2.0% in the fourth quarter. Geode Capital Management LLC now owns 1,006,858 shares of the technology company’s stock worth $221,430,000 after buying an additional 20,045 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in Fabrinet by 1.4% in the fourth quarter. JPMorgan Chase & Co. now owns 669,459 shares of the technology company’s stock valued at $147,201,000 after acquiring an additional 9,058 shares in the last quarter. 97.38% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Barclays decreased their price objective 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. B. Riley raised Fabrinet from a “sell” rating to a “neutral” rating and lowered their price objective for the company from $178.00 to $176.00 in a report on Friday, April 4th. JPMorgan Chase & Co. cut their price objective on Fabrinet from $265.00 to $220.00 and set a “neutral” rating on the stock in a research note on Thursday. Rosenblatt Securities reiterated a “buy” rating and issued a $285.00 target price on shares of Fabrinet in a research report on Friday, March 14th. Finally, 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. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $243.71.

Fabrinet Stock Performance

NYSE FN opened at $183.63 on Friday. The firm’s 50 day moving average price is $203.49 and its two-hundred day moving average price is $225.13. The stock has a market cap of $6.58 billion, a price-to-earnings ratio of 20.54 and a beta of 0.97. Fabrinet has a twelve month low of $148.55 and a twelve month high of $281.79.

Fabrinet (NYSE:FN) last announced its quarterly earnings data 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 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.

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.