Intrust Bank NA Invests $218,000 in Fabrinet (NYSE:FN)

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

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in FN. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Fabrinet in the third quarter valued at approximately $52,000. Public Employees Retirement System of Ohio acquired a new position in shares of Fabrinet during the third quarter worth approximately $61,000. IFP Advisors Inc lifted its holdings in shares of Fabrinet by 576.2% in the 4th quarter. IFP Advisors Inc now owns 284 shares of the technology company’s stock worth $63,000 after purchasing an additional 242 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Fabrinet in the 3rd quarter valued at $70,000. Finally, Assetmark Inc. grew its position 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 period. 97.38% of the stock is owned by institutional investors.

Fabrinet Stock Performance

NYSE:FN opened at $195.58 on Monday. Fabrinet has a 52 week low of $159.69 and a 52 week high of $281.79. The firm has a 50-day moving average price of $216.64 and a two-hundred day moving average price of $230.31. The firm has a market cap of $7.09 billion, a price-to-earnings ratio of 21.88 and a beta of 0.89.

Fabrinet (NYSE:FN) last issued its quarterly earnings results 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%. As a group, sell-side analysts forecast that Fabrinet will post 9.4 earnings per share for the current year.

Analysts Set New Price Targets

FN has been the topic of several research reports. JPMorgan Chase & Co. lowered their price objective 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. Barclays lowered their target price on shares of Fabrinet from $292.00 to $245.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 4th. Rosenblatt Securities reiterated a “buy” rating and set a $285.00 price target on shares of Fabrinet in a research note on Friday, March 14th. Fox Advisors started coverage on Fabrinet in a research note on Tuesday, February 18th. They issued an “overweight” rating and a $270.00 price objective for the company. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $280.00 target price on shares of Fabrinet in a research report on Monday, March 17th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $250.43.

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.