Aviva PLC Sells 8,045 Shares of Fabrinet (NYSE:FN)

Aviva PLC trimmed its stake in shares of Fabrinet (NYSE:FN – Get Rating) by 50.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,824 shares of the technology company’s stock after selling 8,045 shares during the quarter. Aviva PLC’s holdings in Fabrinet were worth $1,003,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently bought and sold shares of FN. Belpointe Asset Management LLC bought a new position in shares of Fabrinet during the fourth quarter worth $236,000. Bank of Montreal Can grew its holdings in shares of Fabrinet by 20.3% in the 4th quarter. Bank of Montreal Can now owns 5,758 shares of the technology company’s stock valued at $753,000 after acquiring an additional 972 shares in the last quarter. Congress Asset Management Co. MA acquired a new stake in shares of Fabrinet in the fourth quarter valued at about $2,506,000. California Public Employees Retirement System acquired a new stake in shares of Fabrinet in the third quarter valued at about $1,445,000. Finally, Atlas Capital Advisors LLC acquired a new position in Fabrinet during the third quarter valued at approximately $56,000. 97.13% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Needham & Company LLC boosted their target price on shares of Fabrinet from $140.00 to $150.00 and gave the stock a “buy” rating in a report on Tuesday, February 7th. B. Riley boosted their target price on shares of Fabrinet from $110.00 to $115.00 and gave the company a “neutral” rating in a research report on Tuesday, February 7th. Lake Street Capital assumed coverage on shares of Fabrinet in a research report on Friday, April 21st. They set a “buy” rating and a $130.00 price target on the stock. JPMorgan Chase & Co. decreased their target price on shares of Fabrinet from $161.00 to $130.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 19th. Finally, StockNews.com began coverage on shares of Fabrinet in a research report on Thursday. They issued a “hold” rating for the company. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $122.57.

Fabrinet Price Performance

Shares of NYSE:FN opened at $95.44 on Friday. Fabrinet has a 1 year low of $74.57 and a 1 year high of $140.18. The business’s 50-day moving average is $102.21 and its 200-day moving average is $118.56. The company has a market capitalization of $3.46 billion, a price-to-earnings ratio of 14.50 and a beta of 1.15.

Fabrinet Profile

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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.