Mirae Asset Global Investments Co. Ltd. grew its stake in Fabrinet (NYSE:FN – Free Report) by 2.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,735 shares of the technology company’s stock after buying an additional 400 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Fabrinet were worth $3,185,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Park Place Capital Corp acquired a new position in Fabrinet during the fourth quarter worth $26,000. Salem Investment Counselors Inc. bought a new position in shares of Fabrinet in the fourth quarter valued at about $29,000. Federated Hermes Inc. raised its position in shares of Fabrinet by 652.6% in the third quarter. Federated Hermes Inc. now owns 429 shares of the technology company’s stock valued at $41,000 after purchasing an additional 372 shares during the period. Orion Capital Management LLC bought a new position in shares of Fabrinet in the third quarter valued at about $47,000. Finally, NewEdge Advisors LLC raised its position in shares of Fabrinet by 39.9% in the first quarter. NewEdge Advisors LLC now owns 417 shares of the technology company’s stock valued at $50,000 after purchasing an additional 119 shares during the period. Institutional investors and hedge funds own 97.38% of the company’s stock.
Fabrinet Stock Down 3.9 %
Shares of Fabrinet stock opened at $166.19 on Thursday. The company has a market capitalization of $6.03 billion, a price-to-earnings ratio of 24.02 and a beta of 1.04. Fabrinet has a 12-month low of $90.19 and a 12-month high of $229.02. The firm’s 50-day moving average price is $196.16 and its two-hundred day moving average price is $185.41.
Insider Activity at Fabrinet
In other Fabrinet news, Director Rollance E. Olson sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $205.52, for a total transaction of $2,055,200.00. Following the completion of the transaction, the director now owns 25,981 shares in the company, valued at approximately $5,339,615.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.51% of the stock is owned by company insiders.
Analysts Set New Price Targets
Several equities analysts have recently weighed in on FN shares. Northland Securities raised shares of Fabrinet from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $200.00 to $220.00 in a research report on Thursday, March 21st. Needham & Company LLC lowered their price target on shares of Fabrinet from $230.00 to $220.00 and set a “buy” rating on the stock in a research report on Friday, March 22nd. JPMorgan Chase & Co. raised their price target on shares of Fabrinet from $210.00 to $212.00 and gave the stock a “neutral” rating in a research report on Thursday, April 11th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $230.00 price target on shares of Fabrinet in a research report on Tuesday, February 6th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $159.57.
View Our Latest Analysis on Fabrinet
About Fabrinet
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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