American Trust lessened its position in Fabrinet (NYSE:FN – Free Report) by 18.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,166 shares of the technology company’s stock after selling 269 shares during the quarter. American Trust’s holdings in Fabrinet were worth $220,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in the company. Congress Asset Management Co. MA bought a new position in shares of Fabrinet during the fourth quarter valued at about $99,045,000. Baillie Gifford & Co. grew its stake in shares of Fabrinet by 190.0% in the fourth quarter. Baillie Gifford & Co. now owns 563,805 shares of the technology company’s stock worth $107,309,000 after purchasing an additional 369,389 shares during the last quarter. TD Asset Management Inc grew its stake in shares of Fabrinet by 216.1% in the first quarter. TD Asset Management Inc now owns 409,761 shares of the technology company’s stock worth $77,453,000 after purchasing an additional 280,145 shares during the last quarter. Epoch Investment Partners Inc. grew its stake in shares of Fabrinet by 291.0% in the first quarter. Epoch Investment Partners Inc. now owns 275,531 shares of the technology company’s stock worth $52,081,000 after purchasing an additional 205,057 shares during the last quarter. Finally, Kennedy Capital Management LLC bought a new stake in shares of Fabrinet in the first quarter worth about $15,637,000. Institutional investors own 97.38% of the company’s stock.
Fabrinet Stock Down 5.8 %
Shares of FN stock traded down $12.41 during trading hours on Friday, hitting $202.56. 517,569 shares of the company’s stock traded hands, compared to its average volume of 361,072. The stock’s fifty day simple moving average is $239.09 and its two-hundred day simple moving average is $213.35. Fabrinet has a 12-month low of $114.83 and a 12-month high of $266.39. The stock has a market cap of $7.32 billion, a price-to-earnings ratio of 26.90 and a beta of 0.96.
Insider Activity at Fabrinet
In related news, Director Frank H. Levinson sold 6,000 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $241.71, for a total transaction of $1,450,260.00. Following the completion of the sale, the director now owns 5,709 shares of the company’s stock, valued at $1,379,922.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.51% of the stock is owned by insiders.
Analysts Set New Price Targets
FN has been the subject of several research analyst reports. Needham & Company LLC restated a “buy” rating and issued a $220.00 price objective on shares of Fabrinet in a report on Tuesday, May 7th. Jefferies Financial Group initiated coverage on shares of Fabrinet in a report on Wednesday, June 26th. They issued a “hold” rating and a $230.00 price objective for the company. JPMorgan Chase & Co. raised their price objective on shares of Fabrinet from $210.00 to $212.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. Finally, B. Riley lowered their price objective on shares of Fabrinet from $173.00 to $171.00 and set a “neutral” rating for the company in a report on Tuesday, May 7th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Fabrinet has an average rating of “Moderate Buy” and an average price target of $168.67.
Check Out Our Latest Analysis on FN
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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