SG Americas Securities LLC Acquires 6,886 Shares of Fabrinet $FN

SG Americas Securities LLC raised its holdings in Fabrinet (NYSE:FN) by 412.3% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 8,556 shares of the technology company’s stock after acquiring an additional 6,886 shares during the period. SG Americas Securities LLC’s holdings in Fabrinet were worth $3,120,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in FN. Maseco LLP acquired a new position in shares of Fabrinet during the second quarter worth approximately $25,000. Elevation Point Wealth Partners LLC bought a new position in Fabrinet during the second quarter worth $35,000. First Horizon Advisors Inc. raised its stake in Fabrinet by 124.2% during the 2nd quarter. First Horizon Advisors Inc. now owns 139 shares of the technology company’s stock valued at $41,000 after purchasing an additional 77 shares during the last quarter. Cullen Frost Bankers Inc. boosted its holdings in Fabrinet by 118.5% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 142 shares of the technology company’s stock valued at $42,000 after purchasing an additional 77 shares during the period. Finally, REAP Financial Group LLC grew its position in Fabrinet by 171.9% in the 2nd quarter. REAP Financial Group LLC now owns 155 shares of the technology company’s stock worth $46,000 after purchasing an additional 98 shares during the last quarter. 97.38% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on FN shares. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Fabrinet in a research report on Monday, December 29th. JPMorgan Chase & Co. boosted their price target on Fabrinet from $430.00 to $530.00 and gave the company an “overweight” rating in a research note on Tuesday, November 4th. Zacks Research cut Fabrinet from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. Barclays raised their price objective on Fabrinet from $329.00 to $499.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 5th. Finally, Rosenblatt Securities boosted their price objective on Fabrinet from $425.00 to $550.00 and gave the company a “buy” rating in a research report on Tuesday, November 4th. Six investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $469.88.

Fabrinet Stock Up 3.5%

Shares of FN opened at $462.67 on Tuesday. The company has a 50-day moving average price of $456.35 and a two-hundred day moving average price of $385.57. The stock has a market cap of $16.58 billion, a price-to-earnings ratio of 47.65 and a beta of 1.04. Fabrinet has a 12 month low of $148.55 and a 12 month high of $531.22.

Insider Buying and Selling

In related news, Director Homa Bahrami sold 3,500 shares of the business’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $453.75, for a total value of $1,588,125.00. Following the sale, the director owned 18,316 shares of the company’s stock, valued at $8,310,885. The trade was a 16.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Seamus Grady sold 22,451 shares of the company’s stock in a transaction on Wednesday, November 26th. The shares were sold at an average price of $446.95, for a total value of $10,034,474.45. Following the completion of the sale, the chief executive officer owned 23,573 shares in the company, valued at $10,535,952.35. This trade represents a 48.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 28,151 shares of company stock worth $12,643,707 in the last 90 days. 0.24% of the stock is owned by company insiders.

Fabrinet Profile

Fabrinet is a global provider of advanced optical packaging and precision optical, electro‐mechanical and electronic manufacturing services (CEM). The company specializes in complex manufacturing processes for original equipment manufacturers (OEMs) in communications, data center, industrial, instrumentation and medical markets. Key capabilities include high‐precision fiber alignment, micro‐assembly, testing and diagnostics, and integration of electro‐optic subassemblies.

Incorporated in 2000, Fabrinet operates under a corporate structure headquartered in Singapore with additional regional offices and design centers in the Americas, Europe and Asia.