Bank of New Hampshire Raises Stake in Fabrinet (NYSE:FN)

Bank of New Hampshire grew its stake in shares of Fabrinet (NYSE:FN) by 6.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,597 shares of the technology company’s stock after purchasing an additional 321 shares during the quarter. Bank of New Hampshire’s holdings in Fabrinet were worth $1,231,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Huntington National Bank lifted its stake in Fabrinet by 70.4% in the third quarter. Huntington National Bank now owns 138 shares of the technology company’s stock worth $33,000 after acquiring an additional 57 shares during the period. Kimelman & Baird LLC purchased a new stake in Fabrinet in the second quarter worth about $49,000. NBC Securities Inc. lifted its stake in Fabrinet by 732.0% in the third quarter. NBC Securities Inc. now owns 208 shares of the technology company’s stock worth $49,000 after acquiring an additional 183 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Fabrinet in the third quarter worth about $52,000. Finally, UMB Bank n.a. lifted its stake 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 acquiring an additional 172 shares during the period. 97.38% of the stock is owned by hedge funds and other institutional investors.

Fabrinet Price Performance

Fabrinet stock traded up $1.56 during trading hours on Tuesday, reaching $234.35. The stock had a trading volume of 11,285 shares, compared to its average volume of 239,222. The company has a market cap of $8.50 billion, a price-to-earnings ratio of 27.73 and a beta of 0.93. The business’s 50 day moving average price is $236.17 and its 200-day moving average price is $236.20. Fabrinet has a 52 week low of $159.69 and a 52 week high of $278.38.

Fabrinet (NYSE:FN) last posted its quarterly earnings data on Monday, November 4th. The technology company reported $2.39 earnings per share (EPS) for the quarter, beating the consensus estimate 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 the consensus estimate of $771.24 million. During the same quarter in the prior year, the company posted $1.78 earnings per share. The company’s revenue for the quarter was up 17.3% compared to the same quarter last year. On average, sell-side analysts forecast that Fabrinet will post 9.1 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently weighed in on FN. B. Riley lowered shares of Fabrinet from a “neutral” rating to a “sell” rating and lowered their price objective for the stock from $194.00 to $178.00 in a research note on Wednesday, November 20th. 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 price objective for the company. Finally, Needham & Company LLC initiated coverage on shares of Fabrinet in a report on Tuesday, November 5th. They issued a “buy” rating and a $280.00 target price for the company. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average 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.