Mutual of America Capital Management LLC Reduces Position in Fabrinet (NYSE:FN)

Mutual of America Capital Management LLC decreased its holdings in shares of Fabrinet (NYSE:FNFree Report) by 14.9% during the third quarter, Holdings Channel.com reports. The firm owned 33,626 shares of the technology company’s stock after selling 5,907 shares during the period. Mutual of America Capital Management LLC’s holdings in Fabrinet were worth $5,603,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Financial Gravity Asset Management Inc. bought a new stake in shares of Fabrinet in the 2nd quarter valued at approximately $520,000. 1832 Asset Management L.P. bought a new stake in Fabrinet in the fourth quarter worth $51,000. NewEdge Advisors LLC boosted its stake in Fabrinet by 39.9% during the first quarter. NewEdge Advisors LLC now owns 417 shares of the technology company’s stock worth $50,000 after buying an additional 119 shares during the period. Federated Hermes Inc. increased its position in Fabrinet by 652.6% during the third quarter. Federated Hermes Inc. now owns 429 shares of the technology company’s stock valued at $41,000 after acquiring an additional 372 shares during the last quarter. Finally, Quarry LP raised its stake in shares of Fabrinet by 2,823.5% in the first quarter. Quarry LP now owns 497 shares of the technology company’s stock valued at $59,000 after acquiring an additional 480 shares during the period. Institutional investors own 97.38% of the company’s stock.

Insiders Place Their Bets

In related news, Director Thomas F. Kelly sold 3,235 shares of the company’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $166.75, for a total value of $539,436.25. Following the sale, the director now owns 29,797 shares in the company, valued at $4,968,649.75. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Fabrinet news, Director Thomas F. Kelly sold 3,235 shares of the company’s stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $166.75, for a total value of $539,436.25. Following the completion of the transaction, the director now owns 29,797 shares in the company, valued at $4,968,649.75. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Thomas F. Kelly sold 3,000 shares of the firm’s stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $171.31, for a total value of $513,930.00. Following the sale, the director now owns 36,532 shares in the company, valued at $6,258,296.92. The disclosure for this sale can be found here. 0.51% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on FN shares. JPMorgan Chase & Co. cut Fabrinet from an “overweight” rating to a “neutral” rating and boosted their price objective for the company from $185.00 to $210.00 in a report on Monday, January 8th. Northland Securities cut shares of Fabrinet from an “outperform” rating to a “market perform” rating and set a $200.00 price target for the company. in a research report on Tuesday, February 6th. Royal Bank of Canada lifted their price objective on shares of Fabrinet from $40.00 to $42.00 and gave the company a “sector perform” rating in a report on Wednesday, November 1st. Finally, Rosenblatt Securities restated a “buy” rating and set a $230.00 target price on shares of Fabrinet in a report on Tuesday, February 6th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $148.57.

View Our Latest Stock Report on Fabrinet

Fabrinet Stock Performance

Shares of NYSE FN opened at $204.56 on Monday. Fabrinet has a fifty-two week low of $90.19 and a fifty-two week high of $229.02. The company has a market cap of $7.43 billion, a PE ratio of 29.56 and a beta of 1.06. The business has a 50-day simple moving average of $192.00 and a two-hundred day simple moving average of $167.75.

Fabrinet Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Fabrinet (NYSE:FN)

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