EntryPoint Capital LLC Acquires New Position in Fabrinet (NYSE:FN)

EntryPoint Capital LLC acquired a new stake in Fabrinet (NYSE:FN) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 539 shares of the technology company’s stock, valued at approximately $102,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. First Eagle Investment Management LLC raised its position in shares of Fabrinet by 0.8% in the fourth quarter. First Eagle Investment Management LLC now owns 7,508 shares of the technology company’s stock valued at $1,429,000 after buying an additional 60 shares during the last quarter. Campbell Newman Asset Management Inc. grew its holdings in Fabrinet by 0.4% in the fourth quarter. Campbell Newman Asset Management Inc. now owns 17,895 shares of the technology company’s stock valued at $3,406,000 after purchasing an additional 64 shares during the period. Parallel Advisors LLC grew its holdings in Fabrinet by 59.7% in 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 during the period. Vanguard Personalized Indexing Management LLC grew its holdings in Fabrinet by 1.6% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 6,117 shares of the technology company’s stock valued at $1,164,000 after purchasing an additional 96 shares during the period. Finally, New York State Teachers Retirement System grew 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 purchasing an additional 100 shares during the period. Institutional investors and hedge funds own 97.38% of the company’s stock.

Insider Transactions at Fabrinet

In related news, Director Frank H. Levinson sold 6,000 shares of the stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $241.71, for a total value of $1,450,260.00. Following the transaction, the director now owns 5,709 shares in the company, valued at $1,379,922.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.51% of the stock is owned by insiders.

Fabrinet Trading Up 2.1 %

FN stock opened at $220.94 on Friday. Fabrinet has a one year low of $114.83 and a one year high of $266.39. The firm has a market capitalization of $7.99 billion, a PE ratio of 29.34 and a beta of 0.96. The firm has a 50-day moving average of $241.42 and a two-hundred day moving average of $212.28.

Fabrinet (NYSE:FN) last posted its quarterly earnings data on Monday, May 6th. The technology company reported $2.21 EPS for the quarter, beating analysts’ consensus estimates of $1.93 by $0.28. The company had revenue of $731.54 million during the quarter, compared to analyst estimates of $718.94 million. Fabrinet had a net margin of 9.90% and a return on equity of 17.67%. On average, equities research analysts anticipate that Fabrinet will post 7.95 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Needham & Company LLC reiterated a “buy” rating and set a $220.00 price objective on shares of Fabrinet in a research note on Tuesday, May 7th. Jefferies Financial Group initiated coverage on shares of Fabrinet in a research report on Wednesday, June 26th. They set a “hold” rating and a $230.00 target price on the stock. B. Riley reduced their target price on shares of Fabrinet from $173.00 to $171.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 7th. Finally, JPMorgan Chase & Co. upped their price target on shares of Fabrinet from $210.00 to $212.00 and gave the company a “neutral” rating in a report on Thursday, April 11th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $168.67.

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.