Osaic Holdings Inc. Buys 17,628 Shares of Fabrinet $FN

Osaic Holdings Inc. boosted its stake in shares of Fabrinet (NYSE:FN) by 378.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,286 shares of the technology company’s stock after acquiring an additional 17,628 shares during the quarter. Osaic Holdings Inc. owned 0.06% of Fabrinet worth $6,567,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in FN. Coldstream Capital Management Inc. increased its position in shares of Fabrinet by 3.2% during the 2nd quarter. Coldstream Capital Management Inc. now owns 998 shares of the technology company’s stock worth $294,000 after purchasing an additional 31 shares in the last quarter. Evergreen Capital Management LLC boosted its position in Fabrinet by 1.0% in the second quarter. Evergreen Capital Management LLC now owns 3,032 shares of the technology company’s stock valued at $893,000 after buying an additional 31 shares in the last quarter. IFP Advisors Inc grew its stake in Fabrinet by 10.9% during the second quarter. IFP Advisors Inc now owns 347 shares of the technology company’s stock worth $103,000 after buying an additional 34 shares during the last quarter. SBI Securities Co. Ltd. increased its holdings in shares of Fabrinet by 21.7% during the second quarter. SBI Securities Co. Ltd. now owns 219 shares of the technology company’s stock worth $65,000 after buying an additional 39 shares in the last quarter. Finally, Bessemer Group Inc. increased its holdings in shares of Fabrinet by 33.6% during the second quarter. Bessemer Group Inc. now owns 171 shares of the technology company’s stock worth $50,000 after buying an additional 43 shares in the last quarter. Institutional investors and hedge funds own 97.38% of the company’s stock.

Fabrinet Stock Up 5.2%

Shares of FN opened at $476.03 on Monday. The stock’s fifty day simple moving average is $439.70 and its 200-day simple moving average is $361.87. The firm has a market capitalization of $17.06 billion, a PE ratio of 49.02 and a beta of 1.05. Fabrinet has a 12-month low of $148.55 and a 12-month high of $531.22.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Weiss Ratings reissued a “buy (b-)” rating on shares of Fabrinet in a report on Monday, December 15th. Needham & Company LLC boosted their price objective on Fabrinet from $440.00 to $540.00 and gave the stock a “buy” rating in a research note on Tuesday, November 4th. Northland Securities set a $550.00 target price on Fabrinet in a research note on Tuesday, November 4th. Barclays upped their price target 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. Finally, Rosenblatt Securities increased their price objective on shares of Fabrinet from $425.00 to $550.00 and gave the stock a “buy” rating in a report on Tuesday, November 4th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Fabrinet presently has a consensus rating of “Moderate Buy” and a consensus price target of $463.63.

Insider Buying and Selling at Fabrinet

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

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.