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

Epoch Investment Partners Inc. raised its stake in Fabrinet (NYSE:FN) by 9.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 302,006 shares of the technology company’s stock after acquiring an additional 26,475 shares during the period. Epoch Investment Partners Inc. owned approximately 0.84% of Fabrinet worth $73,928,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of FN. Parallel Advisors LLC lifted its holdings in shares of Fabrinet by 59.7% during the fourth quarter. Parallel Advisors LLC now owns 206 shares of the technology company’s stock valued at $39,000 after purchasing an additional 77 shares in the last quarter. New York State Teachers Retirement System lifted its holdings in Fabrinet by 0.3% in the first quarter. New York State Teachers Retirement System now owns 29,950 shares of the technology company’s stock valued at $5,661,000 after acquiring an additional 100 shares during the period. GAMMA Investing LLC lifted its holdings in Fabrinet by 60.6% in the first quarter. GAMMA Investing LLC now owns 289 shares of the technology company’s stock valued at $55,000 after acquiring an additional 109 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Fabrinet by 1.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,780 shares of the technology company’s stock valued at $1,904,000 after acquiring an additional 114 shares during the period. Finally, Opal Wealth Advisors LLC bought a new position in Fabrinet in the second quarter valued at about $28,000. 97.38% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. B. Riley increased their target price on Fabrinet from $171.00 to $196.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. JPMorgan Chase & Co. increased their target price on Fabrinet from $240.00 to $285.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Jefferies Financial Group initiated coverage on Fabrinet in a report on Wednesday, June 26th. They issued a “hold” rating and a $230.00 target price on the stock. Needham & Company LLC raised their price objective on Fabrinet from $270.00 to $280.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. Finally, Rosenblatt Securities raised their price objective on Fabrinet from $260.00 to $280.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $219.00.

Fabrinet Stock Down 1.2 %

NYSE FN opened at $231.56 on Friday. The stock’s 50-day moving average price is $229.29 and its 200-day moving average price is $219.25. Fabrinet has a 52 week low of $149.19 and a 52 week high of $278.38. The company has a market capitalization of $8.37 billion, a P/E ratio of 30.75 and a beta of 0.96.

Fabrinet (NYSE:FN) last released its earnings results on Monday, August 19th. The technology company reported $2.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.06 by $0.35. Fabrinet had a return on equity of 18.10% and a net margin of 10.27%. The firm had revenue of $753.26 million during the quarter, compared to analysts’ expectations of $732.63 million. During the same quarter last year, the business posted $1.68 earnings per share. The firm’s revenue was up 14.8% on a year-over-year basis. Research analysts anticipate that Fabrinet will post 9.11 EPS for the current year.

Insider Buying and Selling

In related news, EVP Edward T. Archer sold 8,690 shares of the stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $220.26, for a total transaction of $1,914,059.40. Following the completion of the sale, the executive vice president now owns 8,333 shares in the company, valued at $1,835,426.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Fabrinet news, EVP Edward T. Archer sold 8,690 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $220.26, for a total transaction of $1,914,059.40. Following the completion of the transaction, the executive vice president now owns 8,333 shares in the company, valued at approximately $1,835,426.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Csaba Sverha sold 100 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $270.00, for a total value of $27,000.00. Following the transaction, the chief financial officer now owns 19,347 shares of the company’s stock, valued at approximately $5,223,690. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 44,728 shares of company stock worth $11,645,062. 0.51% of the stock is owned by corporate insiders.

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.