Atria Wealth Solutions Inc. Purchases 1,582 Shares of Fabrinet (NYSE:FN)

Atria Wealth Solutions Inc. increased its position in shares of Fabrinet (NYSE:FN) by 40.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,457 shares of the technology company’s stock after acquiring an additional 1,582 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Fabrinet were worth $1,078,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of FN. Banque Cantonale Vaudoise acquired a new position in Fabrinet during the 1st quarter valued at approximately $29,000. Berbice Capital Management LLC acquired a new stake in shares of Fabrinet in the first quarter worth $30,000. Wayfinding Financial LLC acquired a new stake in shares of Fabrinet in the first quarter worth $30,000. Private Trust Co. NA increased its stake in shares of Fabrinet by 44.3% in the first quarter. Private Trust Co. NA now owns 166 shares of the technology company’s stock worth $33,000 after acquiring an additional 51 shares during the period. Finally, SBI Securities Co. Ltd. increased its stake in shares of Fabrinet by 93.5% in the first quarter. SBI Securities Co. Ltd. now owns 180 shares of the technology company’s stock worth $36,000 after acquiring an additional 87 shares during the period. Institutional investors own 97.38% of the company’s stock.

Fabrinet Stock Performance

Shares of NYSE FN opened at $332.61 on Tuesday. The company’s fifty day moving average price is $288.96 and its 200 day moving average price is $236.78. Fabrinet has a 1 year low of $148.55 and a 1 year high of $345.71. The company has a market capitalization of $11.92 billion, a PE ratio of 37.04 and a beta of 1.02.

Analysts Set New Price Targets

FN has been the topic of a number of research reports. Rosenblatt Securities increased their price objective on shares of Fabrinet from $250.00 to $290.00 and gave the stock a “buy” rating in a research note on Thursday, June 12th. Needham & Company LLC reiterated a “buy” rating and issued a $280.00 price objective on shares of Fabrinet in a research note on Tuesday, May 6th. Barclays set a $234.00 price objective on shares of Fabrinet and gave the stock an “equal weight” rating in a research note on Tuesday, May 6th. Wolfe Research initiated coverage on shares of Fabrinet in a research note on Tuesday, July 8th. They issued a “peer perform” rating on the stock. Finally, JPMorgan Chase & Co. increased their price objective on shares of Fabrinet from $235.00 to $318.00 and gave the stock a “neutral” rating in a research note on Thursday, July 17th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $261.33.

Insider Transactions at Fabrinet

In other Fabrinet news, COO Harpal Gill sold 18,675 shares of the stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $240.00, for a total transaction of $4,482,000.00. Following the transaction, the chief operating officer directly owned 18,068 shares of the company’s stock, valued at $4,336,320. This trade represents a 50.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.38% of the company’s stock.

Fabrinet Profile

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.