Citigroup Inc. Sells 7,274 Shares of Fabrinet (NYSE:FN)

Citigroup Inc. reduced its holdings in Fabrinet (NYSE:FN – Get Rating) by 20.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 28,454 shares of the technology company’s stock after selling 7,274 shares during the quarter. Citigroup Inc.’s holdings in Fabrinet were worth $3,648,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in FN. Ellevest Inc. increased its position in Fabrinet by 164.5% in the 3rd quarter. Ellevest Inc. now owns 291 shares of the technology company’s stock valued at $28,000 after buying an additional 181 shares in the last quarter. Federated Hermes Inc. lifted its holdings in shares of Fabrinet by 652.6% in the 3rd quarter. Federated Hermes Inc. now owns 429 shares of the technology company’s stock worth $41,000 after purchasing an additional 372 shares in the last quarter. Atlas Capital Advisors LLC acquired a new stake in Fabrinet in the 3rd quarter valued at $56,000. Signaturefd LLC increased its stake in Fabrinet by 74.4% during the 3rd quarter. Signaturefd LLC now owns 586 shares of the technology company’s stock valued at $56,000 after purchasing an additional 250 shares in the last quarter. Finally, Point72 Hong Kong Ltd acquired a new position in Fabrinet during the second quarter worth $56,000. 97.13% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently commented on FN. JPMorgan Chase & Co. decreased their target price on shares of Fabrinet from $161.00 to $130.00 and set an “overweight” rating for the company in a research report on Wednesday, April 19th. StockNews.com began coverage on Fabrinet in a report on Thursday. They issued a “hold” rating on the stock. Loop Capital upped their price target on Fabrinet from $146.00 to $158.00 in a report on Tuesday, February 7th. B. Riley lifted their price objective on shares of Fabrinet from $110.00 to $115.00 and gave the stock a “neutral” rating in a report on Tuesday, February 7th. Finally, Needham & Company LLC increased their price objective on shares of Fabrinet from $140.00 to $150.00 and gave the company a “buy” rating in a research note on Tuesday, February 7th. Three 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 stock has an average rating of “Moderate Buy” and a consensus target price of $122.57.

Fabrinet Stock Up 0.2 %

Fabrinet stock opened at $95.44 on Monday. The firm has a 50 day moving average price of $102.21 and a 200-day moving average price of $118.60. Fabrinet has a twelve month low of $74.57 and a twelve month high of $140.18. The company has a market capitalization of $3.46 billion, a P/E 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.