Fabrinet (NYSE:FN) Shares Sold by Atria Wealth Solutions Inc.

Atria Wealth Solutions Inc. lessened its stake in shares of Fabrinet (NYSE:FN) by 17.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,875 shares of the technology company’s stock after selling 834 shares during the period. Atria Wealth Solutions Inc.’s holdings in Fabrinet were worth $852,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Barclays PLC raised its holdings in shares of Fabrinet by 304.6% during the third quarter. Barclays PLC now owns 69,128 shares of the technology company’s stock valued at $16,345,000 after acquiring an additional 52,042 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Fabrinet by 14.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 480,550 shares of the technology company’s stock valued at $113,621,000 after purchasing an additional 61,491 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Fabrinet in the 3rd quarter valued at $2,398,000. Pathstone Holdings LLC boosted its stake in Fabrinet by 40.7% during the 3rd quarter. Pathstone Holdings LLC now owns 8,219 shares of the technology company’s stock worth $1,943,000 after purchasing an additional 2,378 shares during the last quarter. Finally, Freedom Investment Management Inc. grew its holdings in shares of Fabrinet by 106.2% during the third quarter. Freedom Investment Management Inc. now owns 4,969 shares of the technology company’s stock worth $1,175,000 after buying an additional 2,559 shares in the last quarter. 97.38% of the stock is owned by hedge funds and other institutional investors.

Fabrinet Stock Performance

FN opened at $215.05 on Tuesday. The stock has a market capitalization of $7.80 billion, a PE ratio of 24.05 and a beta of 0.92. Fabrinet has a one year low of $159.69 and a one year high of $281.79. The business’s 50 day moving average price is $226.21 and its 200 day moving average price is $234.63.

Fabrinet (NYSE:FN) last announced its quarterly earnings results on Monday, February 3rd. The technology company reported $2.38 EPS for the quarter, missing the consensus estimate of $2.48 by ($0.10). Fabrinet had a net margin of 10.44% and a return on equity of 18.48%. As a group, equities research analysts forecast that Fabrinet will post 9.4 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

FN has been the topic of several research reports. B. Riley downgraded shares of Fabrinet from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $194.00 to $178.00 in a research note on Wednesday, November 20th. Barclays decreased their target price on shares of Fabrinet from $292.00 to $245.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 4th. JPMorgan Chase & Co. dropped their price target on Fabrinet from $275.00 to $265.00 and set a “neutral” rating for the company in a research report on Tuesday, February 4th. Rosenblatt Securities lifted their price objective on Fabrinet from $280.00 to $285.00 and gave the stock a “buy” rating in a research report on Tuesday, February 4th. Finally, Needham & Company LLC reissued a “buy” rating and set a $280.00 price objective on shares of Fabrinet in a research note on Tuesday, February 4th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $246.63.

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.