Integrated Quantitative Investments LLC Invests $750,000 in Fabrinet (NYSE:FN)

Integrated Quantitative Investments LLC bought a new stake in Fabrinet (NYSE:FN) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 3,411 shares of the technology company’s stock, valued at approximately $750,000.

A number of other institutional investors have also added to or reduced their stakes in FN. Huntington National Bank increased its stake in Fabrinet by 66.7% in the fourth quarter. Huntington National Bank now owns 230 shares of the technology company’s stock valued at $51,000 after acquiring an additional 92 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Fabrinet during the 3rd quarter worth approximately $52,000. Public Employees Retirement System of Ohio acquired a new stake in Fabrinet in the 3rd quarter valued at $61,000. IFP Advisors Inc grew its position in Fabrinet by 576.2% in the fourth 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. Finally, Wilmington Savings Fund Society FSB acquired a new position in Fabrinet during the third quarter worth $70,000. 97.38% of the stock is owned by institutional investors and hedge funds.

Fabrinet Stock Performance

NYSE FN opened at $171.11 on Friday. Fabrinet has a 52 week low of $148.55 and a 52 week high of $281.79. The stock has a market capitalization of $6.21 billion, a P/E ratio of 19.14 and a beta of 0.89. The stock has a fifty day moving average of $209.73 and a 200-day moving average of $228.95.

Fabrinet (NYSE:FN) last announced its quarterly earnings data on Monday, February 3rd. The technology company reported $2.38 earnings per share 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%. Equities research analysts forecast that Fabrinet will post 9.4 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on FN shares. JPMorgan Chase & Co. lowered their target price on shares of Fabrinet from $275.00 to $265.00 and set a “neutral” rating on the stock in a report on Tuesday, February 4th. Rosenblatt Securities reaffirmed a “buy” rating and set a $285.00 price objective on shares of Fabrinet in a report on Friday, March 14th. Fox Advisors started coverage on Fabrinet in a report on Tuesday, February 18th. They issued an “overweight” rating and a $270.00 target price on the stock. B. Riley raised Fabrinet from a “sell” rating to a “neutral” rating and dropped their price target for the company from $178.00 to $176.00 in a report on Friday. Finally, Needham & Company LLC restated a “buy” rating and set a $280.00 target price on shares of Fabrinet in a report on Monday, March 17th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Fabrinet presently has a consensus rating of “Hold” and an average price target of $250.14.

Fabrinet Company 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.