SG Americas Securities LLC Has $1.17 Million Holdings in Fabrinet (NYSE:FN)

SG Americas Securities LLC increased its holdings in Fabrinet (NYSE:FNGet Rating) by 93.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,170 shares of the technology company’s stock after purchasing an additional 5,403 shares during the quarter. SG Americas Securities LLC’s holdings in Fabrinet were worth $1,174,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Capital World Investors grew its position in shares of Fabrinet by 38.2% in the 4th quarter. Capital World Investors now owns 661,785 shares of the technology company’s stock valued at $78,402,000 after buying an additional 183,000 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Fabrinet by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 611,298 shares of the technology company’s stock worth $72,420,000 after acquiring an additional 15,084 shares during the period. abrdn plc increased its position in Fabrinet by 64.1% during the 4th quarter. abrdn plc now owns 471,281 shares of the technology company’s stock valued at $55,832,000 after purchasing an additional 184,134 shares during the period. Clark Capital Management Group Inc. increased its position in Fabrinet by 4.6% during the 4th quarter. Clark Capital Management Group Inc. now owns 411,351 shares of the technology company’s stock valued at $48,733,000 after purchasing an additional 18,137 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Fabrinet by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 334,656 shares of the technology company’s stock worth $39,647,000 after purchasing an additional 6,518 shares during the last quarter. 95.89% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Fabrinet from $115.00 to $88.00 and set a “neutral” rating for the company in a research report on Thursday, July 14th. Loop Capital began coverage on Fabrinet in a report on Monday, April 25th. They set a “buy” rating and a $129.00 price target for the company. B. Riley dropped their price objective on Fabrinet from $100.00 to $96.00 in a research note on Tuesday, May 3rd. Finally, StockNews.com raised Fabrinet from a “hold” rating to a “buy” rating in a research note on Friday. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Fabrinet presently has a consensus rating of “Moderate Buy” and an average target price of $113.17.

Fabrinet Stock Performance

Shares of Fabrinet stock opened at $96.06 on Friday. The business has a 50-day simple moving average of $84.03 and a 200 day simple moving average of $94.86. The firm has a market capitalization of $3.53 billion, a price-to-earnings ratio of 19.29 and a beta of 0.94. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.92 and a quick ratio of 2.02. Fabrinet has a one year low of $74.57 and a one year high of $126.28.

Fabrinet (NYSE:FNGet Rating) last released its quarterly earnings data on Monday, May 2nd. The technology company reported $1.35 EPS for the quarter, meeting the consensus estimate of $1.35. The firm had revenue of $564.40 million during the quarter, compared to the consensus estimate of $575.72 million. Fabrinet had a return on equity of 16.00% and a net margin of 8.54%. During the same quarter in the previous year, the company posted $1.03 earnings per share. On average, research analysts anticipate that Fabrinet will post 5.29 earnings per share for the current fiscal year.

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.

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Institutional Ownership by Quarter for Fabrinet (NYSE:FN)

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