Entropy Technologies LP Invests $1.07 Million in Fabrinet (NYSE:FN)

Entropy Technologies LP bought a new stake in Fabrinet (NYSE:FN) in the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 4,851 shares of the technology company’s stock, valued at approximately $1,067,000.

A number of other institutional investors have also made changes to their positions in the business. Huntington National Bank boosted its position in Fabrinet by 70.4% in the 3rd quarter. Huntington National Bank now owns 138 shares of the technology company’s stock valued at $33,000 after buying an additional 57 shares during the last quarter. NBC Securities Inc. boosted its holdings in Fabrinet by 732.0% in the third quarter. NBC Securities Inc. now owns 208 shares of the technology company’s stock valued at $49,000 after acquiring an additional 183 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Fabrinet in the third quarter worth about $52,000. UMB Bank n.a. increased its position in Fabrinet by 252.9% in the third quarter. UMB Bank n.a. now owns 240 shares of the technology company’s stock worth $57,000 after purchasing an additional 172 shares during the period. Finally, Eastern Bank bought a new stake in Fabrinet during the 3rd quarter worth about $59,000. 97.38% of the stock is owned by institutional investors.

Fabrinet Stock Down 0.5 %

Shares of NYSE FN opened at $210.99 on Tuesday. Fabrinet has a twelve month low of $159.69 and a twelve month high of $281.79. The stock has a market cap of $7.65 billion, a price-to-earnings ratio of 23.60 and a beta of 0.92. The company’s fifty day moving average is $229.66 and its 200-day moving average is $233.72.

Fabrinet (NYSE:FN) last posted its earnings results 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%. On average, research analysts anticipate that Fabrinet will post 9.4 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on FN. JPMorgan Chase & Co. reduced their target price on shares of Fabrinet from $275.00 to $265.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 4th. Needham & Company LLC reaffirmed a “buy” rating and set a $280.00 target price on shares of Fabrinet in a report on Tuesday, February 4th. Barclays dropped their target price on shares of Fabrinet from $292.00 to $245.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 4th. B. Riley lowered Fabrinet from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $194.00 to $178.00 in a research report on Wednesday, November 20th. Finally, Rosenblatt Securities upped their price objective on Fabrinet from $280.00 to $285.00 and gave the company a “buy” rating in a report on Tuesday, February 4th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $243.29.

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.