Benjamin Edwards Inc. lifted its holdings in Fabrinet (NYSE:FN – Free Report) by 153.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 439 shares of the technology company’s stock after acquiring an additional 266 shares during the quarter. Benjamin Edwards Inc.’s holdings in Fabrinet were worth $52,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of FN. Capital International Investors lifted its stake in shares of Fabrinet by 108.1% during the first quarter. Capital International Investors now owns 1,529,864 shares of the technology company’s stock valued at $160,835,000 after acquiring an additional 794,833 shares during the period. Driehaus Capital Management LLC acquired a new stake in shares of Fabrinet during the fourth quarter worth $41,668,000. Alyeska Investment Group L.P. bought a new stake in Fabrinet in the first quarter valued at about $33,032,000. JPMorgan Chase & Co. lifted its stake in Fabrinet by 149.3% in the fourth quarter. JPMorgan Chase & Co. now owns 444,021 shares of the technology company’s stock valued at $56,933,000 after buying an additional 265,920 shares during the period. Finally, Wellington Management Group LLP boosted its holdings in Fabrinet by 90.6% during the first quarter. Wellington Management Group LLP now owns 413,227 shares of the technology company’s stock worth $43,443,000 after buying an additional 196,477 shares during the last quarter. 98.93% of the stock is owned by institutional investors and hedge funds.
Fabrinet Stock Performance
NYSE FN opened at $130.96 on Monday. Fabrinet has a 52 week low of $81.48 and a 52 week high of $140.18. The stock’s 50 day moving average price is $116.02 and its two-hundred day moving average price is $117.06. The stock has a market capitalization of $4.75 billion, a price-to-earnings ratio of 19.90 and a beta of 1.15.
Insider Activity
In related news, Director Homa Bahrami sold 1,400 shares of the company’s stock in a transaction dated Wednesday, May 24th. The stock was sold at an average price of $98.05, for a total transaction of $137,270.00. Following the sale, the director now owns 32,739 shares in the company, valued at $3,210,058.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.50% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
Several research firms recently weighed in on FN. StockNews.com assumed coverage on shares of Fabrinet in a research note on Thursday, May 18th. They set a “hold” rating on the stock. Lake Street Capital started coverage on shares of Fabrinet in a report on Friday, April 21st. They issued a “buy” rating and a $130.00 price target for the company. Needham & Company LLC raised their price objective on Fabrinet from $120.00 to $150.00 in a research note on Monday, June 12th. JPMorgan Chase & Co. decreased their target price on Fabrinet from $161.00 to $130.00 and set an “overweight” rating for the company in a research note on Wednesday, April 19th. Finally, Northland Securities cut their price objective on Fabrinet from $155.00 to $135.00 in a report on Tuesday, May 9th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Fabrinet has a consensus rating of “Moderate Buy” and an average price target of $122.57.
About Fabrinet
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.
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