SG Americas Securities LLC grew its position in shares of Fabrinet (NYSE:FN – Get Rating) by 18.7% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 13,951 shares of the technology company’s stock after acquiring an additional 2,200 shares during the period. SG Americas Securities LLC’s holdings in Fabrinet were worth $1,789,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Ellevest Inc. grew its holdings in shares of Fabrinet by 164.5% during the 3rd quarter. Ellevest Inc. now owns 291 shares of the technology company’s stock worth $28,000 after acquiring an additional 181 shares during the period. Federated Hermes Inc. grew its holdings in shares of Fabrinet by 652.6% during the 3rd quarter. Federated Hermes Inc. now owns 429 shares of the technology company’s stock worth $41,000 after acquiring an additional 372 shares during the period. Wipfli Financial Advisors LLC purchased a new position in shares of Fabrinet during the 3rd quarter worth approximately $48,000. CWM LLC boosted its position in shares of Fabrinet by 192.0% in the 4th quarter. CWM LLC now owns 514 shares of the technology company’s stock worth $66,000 after purchasing an additional 338 shares in the last quarter. Finally, Signaturefd LLC boosted its position in shares of Fabrinet by 74.4% in the 3rd quarter. Signaturefd LLC now owns 586 shares of the technology company’s stock worth $56,000 after purchasing an additional 250 shares in the last quarter. Hedge funds and other institutional investors own 97.13% of the company’s stock.
Fabrinet Price Performance
NYSE FN opened at $94.90 on Tuesday. The business’s fifty day moving average price is $113.67 and its 200-day moving average price is $120.40. The stock has a market capitalization of $3.47 billion, a price-to-earnings ratio of 14.99 and a beta of 1.16. Fabrinet has a 1-year low of $74.57 and a 1-year high of $140.18.
Analyst Ratings Changes
A number of analysts have recently commented on the company. Lake Street Capital assumed coverage on Fabrinet in a research report on Friday. They issued a “buy” rating and a $130.00 price target on the stock. Loop Capital boosted their price target on Fabrinet from $146.00 to $158.00 in a research report on Tuesday, February 7th. StockNews.com cut Fabrinet from a “buy” rating to a “hold” rating in a research report on Thursday, April 20th. Needham & Company LLC upped their price objective on Fabrinet from $140.00 to $150.00 and gave the company a “buy” rating in a research report on Tuesday, February 7th. Finally, Royal Bank of Canada upped their price objective on Fabrinet from $39.00 to $40.00 and gave the company a “sector perform” rating in a research report on Wednesday, March 1st. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $125.43.
Insider Activity
In other news, Director Rollance E. Olson sold 5,000 shares of the stock in a transaction on Tuesday, February 14th. The stock was sold at an average price of $126.33, for a total transaction of $631,650.00. Following the transaction, the director now directly owns 34,699 shares of the company’s stock, valued at approximately $4,383,524.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.50% of the company’s stock.
Fabrinet Profile
Fabrinet engages in the provision of optical packaging and electronic manufacturing services to original equipment manufacturers. The firm’s engineering services include process design, failure analysis, reliability testing, tooling design, and real-time traceability system. Its manufacturing operations offer sensors, subsystems, customized optics, and optical modules and components.
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