Advisors Asset Management Inc. Decreases Holdings in Fabrinet (NYSE:FN)

Advisors Asset Management Inc. lowered its stake in Fabrinet (NYSE:FNGet Rating) by 40.1% during the second quarter, Holdings Channel.com reports. The institutional investor owned 3,475 shares of the technology company’s stock after selling 2,325 shares during the period. Advisors Asset Management Inc.’s holdings in Fabrinet were worth $282,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Meeder Asset Management Inc. lifted its stake in Fabrinet by 546.3% in the 2nd quarter. Meeder Asset Management Inc. now owns 349 shares of the technology company’s stock valued at $28,000 after buying an additional 295 shares in the last quarter. Archer Investment Corp acquired a new position in Fabrinet in the 1st quarter valued at $58,000. EverSource Wealth Advisors LLC raised its holdings in Fabrinet by 382.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 728 shares of the technology company’s stock valued at $59,000 after acquiring an additional 577 shares during the last quarter. Van ECK Associates Corp raised its holdings in Fabrinet by 16.0% in the 1st quarter. Van ECK Associates Corp now owns 943 shares of the technology company’s stock valued at $99,000 after acquiring an additional 130 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its holdings in Fabrinet by 28.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,381 shares of the technology company’s stock valued at $112,000 after acquiring an additional 310 shares during the last quarter. Hedge funds and other institutional investors own 97.21% of the company’s stock.

Insider Transactions at Fabrinet

In other news, Director David T. Mitchell sold 50,000 shares of the company’s stock in a transaction on Tuesday, August 23rd. The stock was sold at an average price of $109.95, for a total transaction of $5,497,500.00. Following the completion of the sale, the director now directly owns 27,953 shares in the company, valued at approximately $3,073,432.35. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director David T. Mitchell sold 50,000 shares of the stock in a transaction on Tuesday, August 23rd. The stock was sold at an average price of $109.95, for a total value of $5,497,500.00. Following the completion of the sale, the director now directly owns 27,953 shares in the company, valued at approximately $3,073,432.35. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Csaba Sverha sold 14,194 shares of the stock in a transaction on Thursday, November 10th. The shares were sold at an average price of $121.94, for a total value of $1,730,816.36. Following the completion of the sale, the chief financial officer now owns 17,009 shares of the company’s stock, valued at $2,074,077.46. The disclosure for this sale can be found here. Insiders sold a total of 81,875 shares of company stock worth $9,108,868 in the last ninety days. Insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on FN shares. Northland Securities boosted their price target on Fabrinet from $125.00 to $132.50 in a report on Thursday, October 6th. B. Riley boosted their price target on Fabrinet from $102.00 to $110.00 in a report on Tuesday, November 8th. StockNews.com upgraded Fabrinet from a “hold” rating to a “buy” rating in a report on Friday, November 11th. Finally, Needham & Company LLC boosted their price target on Fabrinet from $135.00 to $140.00 and gave the company a “buy” rating in a report on Tuesday, November 8th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Fabrinet presently has a consensus rating of “Moderate Buy” and a consensus price target of $119.90.

Fabrinet Trading Up 1.2 %

FN stock opened at $129.78 on Monday. The company has a market cap of $4.75 billion, a price-to-earnings ratio of 21.92 and a beta of 1.00. The company has a quick ratio of 1.95, a current ratio of 2.95 and a debt-to-equity ratio of 0.01. The business has a fifty day simple moving average of $107.05 and a 200-day simple moving average of $96.40. Fabrinet has a 52 week low of $74.57 and a 52 week high of $129.94.

Fabrinet Company Profile

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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.

See Also

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Institutional Ownership by Quarter for Fabrinet (NYSE:FN)

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