Fabrinet $FN Shares Acquired by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lifted its holdings in Fabrinet (NYSE:FN) by 1.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 424,741 shares of the technology company’s stock after acquiring an additional 4,043 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.19% of Fabrinet worth $125,163,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cetera Investment Advisers lifted its holdings in shares of Fabrinet by 11.6% in the 1st quarter. Cetera Investment Advisers now owns 13,212 shares of the technology company’s stock valued at $2,610,000 after buying an additional 1,368 shares during the period. Atria Wealth Solutions Inc. grew its holdings in Fabrinet by 40.8% during the first quarter. Atria Wealth Solutions Inc. now owns 5,457 shares of the technology company’s stock worth $1,078,000 after acquiring an additional 1,582 shares during the period. Canada Pension Plan Investment Board raised its position in Fabrinet by 76.1% during the first quarter. Canada Pension Plan Investment Board now owns 69,400 shares of the technology company’s stock valued at $13,707,000 after acquiring an additional 30,000 shares in the last quarter. Deutsche Bank AG lifted its holdings in Fabrinet by 13.9% in the first quarter. Deutsche Bank AG now owns 51,549 shares of the technology company’s stock valued at $10,181,000 after acquiring an additional 6,272 shares during the period. Finally, Nordea Investment Management AB boosted its position in Fabrinet by 0.3% in the 2nd quarter. Nordea Investment Management AB now owns 43,411 shares of the technology company’s stock worth $12,845,000 after purchasing an additional 132 shares in the last quarter. 97.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Fabrinet

In other news, EVP Edward T. Archer sold 3,333 shares of the company’s stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $354.48, for a total transaction of $1,181,481.84. Following the completion of the sale, the executive vice president owned 6,644 shares of the company’s stock, valued at $2,355,165.12. This represents a 33.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Harpal Gill sold 14,203 shares of the firm’s stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $355.15, for a total transaction of $5,044,195.45. Following the completion of the transaction, the chief operating officer directly owned 13,983 shares in the company, valued at approximately $4,966,062.45. This represents a 50.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.24% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

FN has been the subject of several recent research reports. Needham & Company LLC lifted their target price on shares of Fabrinet from $440.00 to $540.00 and gave the company a “buy” rating in a report on Tuesday, November 4th. B. Riley lifted their price objective on shares of Fabrinet from $184.00 to $220.00 and gave the company a “neutral” rating in a report on Tuesday, August 19th. Barclays upped their price objective on shares of Fabrinet from $329.00 to $499.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 5th. Northland Securities set a $550.00 target price on Fabrinet in a research report on Tuesday, November 4th. Finally, Rosenblatt Securities upped their price target on Fabrinet from $425.00 to $550.00 and gave the stock a “buy” rating in a report on Tuesday, November 4th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $451.29.

Fabrinet Price Performance

Shares of Fabrinet stock opened at $449.34 on Friday. The stock has a market capitalization of $16.10 billion, a P/E ratio of 46.28 and a beta of 1.05. The business has a 50 day simple moving average of $408.12 and a two-hundred day simple moving average of $333.33. Fabrinet has a 12 month low of $148.55 and a 12 month high of $498.00.

Fabrinet Company 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.