Mirae Asset Global Investments Co. Ltd. raised its position in shares of Fabrinet (NYSE:FN – Get Rating) by 0.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,812 shares of the technology company’s stock after acquiring an additional 132 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Fabrinet were worth $2,027,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in the company. Signaturefd LLC lifted its stake in shares of Fabrinet by 14.7% during the fourth quarter. Signaturefd LLC now owns 672 shares of the technology company’s stock worth $86,000 after purchasing an additional 86 shares in the last quarter. Commonwealth Equity Services LLC lifted its stake in shares of Fabrinet by 2.8% during the fourth quarter. Commonwealth Equity Services LLC now owns 3,262 shares of the technology company’s stock worth $418,000 after purchasing an additional 89 shares in the last quarter. Boston Partners lifted its stake in shares of Fabrinet by 2.0% during the third quarter. Boston Partners now owns 6,327 shares of the technology company’s stock worth $604,000 after purchasing an additional 125 shares in the last quarter. Evergreen Capital Management LLC lifted its stake in shares of Fabrinet by 6.2% during the first quarter. Evergreen Capital Management LLC now owns 2,142 shares of the technology company’s stock worth $225,000 after purchasing an additional 125 shares in the last quarter. Finally, Royal Bank of Canada lifted its stake in shares of Fabrinet by 2.0% during the third quarter. Royal Bank of Canada now owns 6,466 shares of the technology company’s stock worth $617,000 after purchasing an additional 126 shares in the last quarter. Hedge funds and other institutional investors own 97.13% of the company’s stock.
Fabrinet Price Performance
FN opened at $118.96 on Friday. The company has a market capitalization of $4.32 billion, a price-to-earnings ratio of 18.08 and a beta of 1.15. Fabrinet has a 1-year low of $74.57 and a 1-year high of $140.18. The business has a 50 day moving average price of $101.10 and a two-hundred day moving average price of $118.20.
Insider Transactions at Fabrinet
Analysts Set New Price Targets
FN has been the topic of a number of recent research reports. Northland Securities reduced their price objective on Fabrinet from $155.00 to $135.00 in a research note on Tuesday, May 9th. Needham & Company LLC boosted their price objective on Fabrinet from $140.00 to $150.00 and gave the company a “buy” rating in a report on Tuesday, February 7th. Loop Capital boosted their price objective on Fabrinet from $146.00 to $158.00 in a report on Tuesday, February 7th. Lake Street Capital initiated coverage on Fabrinet in a report on Friday, April 21st. They issued a “buy” rating and a $130.00 price objective for the company. Finally, B. Riley upped their target price on Fabrinet from $110.00 to $115.00 and gave the company a “neutral” rating in a report on Tuesday, February 7th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $122.57.
About Fabrinet
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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