Tokio Marine Asset Management Co. Ltd. Invests $4.62 Million in Fabrinet (NYSE:FN)

Tokio Marine Asset Management Co. Ltd. bought a new position in Fabrinet (NYSE:FN) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 20,989 shares of the technology company’s stock, valued at approximately $4,615,000. Tokio Marine Asset Management Co. Ltd. owned approximately 0.06% of Fabrinet as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of FN. Huntington National Bank lifted its stake in shares of Fabrinet by 70.4% in the third quarter. Huntington National Bank now owns 138 shares of the technology company’s stock valued at $33,000 after buying an additional 57 shares in the last quarter. NBC Securities Inc. lifted its position in Fabrinet by 732.0% in the 3rd quarter. NBC Securities Inc. now owns 208 shares of the technology company’s stock valued at $49,000 after acquiring an additional 183 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in Fabrinet during the 3rd quarter valued at about $52,000. UMB Bank n.a. increased its holdings in Fabrinet by 252.9% during the 3rd quarter. UMB Bank n.a. now owns 240 shares of the technology company’s stock worth $57,000 after purchasing an additional 172 shares in the last quarter. Finally, Eastern Bank bought a new stake in Fabrinet during the 3rd quarter worth approximately $59,000. Institutional investors and hedge funds own 97.38% of the company’s stock.

Fabrinet Stock Performance

Shares of NYSE:FN opened at $215.99 on Monday. The company has a market capitalization of $7.83 billion, a P/E ratio of 25.56 and a beta of 0.93. The company’s 50-day moving average is $231.04 and its 200 day moving average is $234.58. Fabrinet has a fifty-two week low of $159.69 and a fifty-two week high of $281.79.

Fabrinet (NYSE:FN) last released its earnings results on Monday, November 4th. The technology company reported $2.39 earnings per share for the quarter, beating analysts’ consensus estimates of $2.38 by $0.01. Fabrinet had a net margin of 10.28% and a return on equity of 18.08%. The firm had revenue of $804.20 million for the quarter, compared to analysts’ expectations of $771.24 million. During the same period in the previous year, the company earned $1.78 earnings per share. The company’s quarterly revenue was up 17.3% on a year-over-year basis. As a group, research analysts predict that Fabrinet will post 9.1 earnings per share for the current year.

Analyst Upgrades and Downgrades

FN has been the topic of several analyst reports. B. Riley cut Fabrinet from a “neutral” rating to a “sell” rating and cut their target price for the company from $194.00 to $178.00 in a research report on Wednesday, November 20th. Needham & Company LLC started coverage on shares of Fabrinet in a report on Tuesday, November 5th. They set a “buy” rating and a $280.00 price objective on the stock. Finally, Barclays initiated coverage on shares of Fabrinet in a research note on Thursday, November 14th. They issued an “equal weight” rating and a $292.00 target price for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Fabrinet has an average rating of “Hold” and a consensus price target of $252.14.

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.