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

Tokio Marine Asset Management Co. Ltd. purchased a new stake in shares of Fabrinet (NYSE:FN) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 20,989 shares of the technology company’s stock, valued at approximately $4,615,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Huntington National Bank raised its holdings in Fabrinet by 70.4% during the 3rd quarter. Huntington National Bank now owns 138 shares of the technology company’s stock valued at $33,000 after acquiring an additional 57 shares during the period. NBC Securities Inc. raised its stake in shares of Fabrinet by 732.0% during the 3rd quarter. NBC Securities Inc. now owns 208 shares of the technology company’s stock valued at $49,000 after purchasing an additional 183 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Fabrinet during the 3rd quarter worth about $52,000. UMB Bank n.a. boosted its stake in Fabrinet by 252.9% in 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 during the period. Finally, Eastern Bank purchased a new position in Fabrinet during the 3rd quarter valued at about $59,000. 97.38% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on FN shares. Needham & Company LLC began coverage on shares of Fabrinet in a research report on Tuesday, November 5th. They issued a “buy” rating and a $280.00 price objective for the company. B. Riley downgraded shares of Fabrinet from a “neutral” rating to a “sell” rating and cut their price target for the company from $194.00 to $178.00 in a report on Wednesday, November 20th. Finally, Barclays initiated coverage on shares of Fabrinet in a report on Thursday, November 14th. They issued an “equal weight” rating and a $292.00 price target on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $252.14.

Fabrinet Stock Performance

Fabrinet stock opened at $215.99 on Monday. Fabrinet has a fifty-two week low of $159.69 and a fifty-two week high of $281.79. The stock has a market cap of $7.83 billion, a P/E ratio of 25.56 and a beta of 0.93. The firm’s fifty day moving average price is $231.04 and its 200-day moving average price is $234.58.

Fabrinet (NYSE:FN) last issued its quarterly earnings results on Monday, November 4th. The technology company reported $2.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.38 by $0.01. Fabrinet had a return on equity of 18.08% and a net margin of 10.28%. The firm had revenue of $804.20 million during the quarter, compared to analyst estimates of $771.24 million. During the same quarter in the previous year, the company posted $1.78 earnings per share. The company’s revenue was up 17.3% compared to the same quarter last year. On average, analysts predict that Fabrinet will post 9.1 earnings per share for the current year.

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.