Amalgamated Bank Has $3.13 Million Stock Holdings in Fabrinet (NYSE:FN)

Amalgamated Bank decreased its position in shares of Fabrinet (NYSE:FN) by 4.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,858 shares of the technology company’s stock after selling 715 shares during the period. Amalgamated Bank’s holdings in Fabrinet were worth $3,132,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in FN. Versant Capital Management Inc boosted its position in shares of Fabrinet by 353.7% during the 1st quarter. Versant Capital Management Inc now owns 186 shares of the technology company’s stock worth $37,000 after acquiring an additional 145 shares in the last quarter. Huntington National Bank lifted its stake in Fabrinet by 66.7% in the 4th quarter. Huntington National Bank now owns 230 shares of the technology company’s stock valued at $51,000 after purchasing an additional 92 shares during the last quarter. Quarry LP lifted its stake in Fabrinet by 315.8% in the 4th quarter. Quarry LP now owns 237 shares of the technology company’s stock valued at $52,000 after purchasing an additional 180 shares during the last quarter. Orion Capital Management LLC bought a new position in Fabrinet in the 4th quarter valued at approximately $62,000. Finally, UMB Bank n.a. lifted its stake in Fabrinet by 103.1% in the 1st quarter. UMB Bank n.a. now owns 398 shares of the technology company’s stock valued at $79,000 after purchasing an additional 202 shares during the last quarter. Institutional investors and hedge funds own 97.38% of the company’s stock.

Insiders Place Their Bets

In related news, COO Harpal Gill sold 18,675 shares of Fabrinet 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 completion of the transaction, the chief operating officer 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Rollance E. Olson sold 2,500 shares of Fabrinet stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $223.98, for a total transaction of $559,950.00. Following the transaction, the director directly owned 23,201 shares of the company’s stock, valued at $5,196,559.98. This represents a 9.73% decrease in their position. The disclosure for this sale can be found here. 0.38% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Rosenblatt Securities increased their price objective on shares of Fabrinet from $250.00 to $290.00 and gave the company a “buy” rating in a research note on Thursday, June 12th. B. Riley raised shares of Fabrinet from a “sell” rating to a “neutral” rating and dropped their price objective for the company from $178.00 to $176.00 in a research note on Friday, April 4th. Barclays set a $234.00 price objective on shares of Fabrinet and gave the company an “equal weight” rating in a research note on Tuesday, May 6th. JPMorgan Chase & Co. increased their price objective on shares of Fabrinet from $220.00 to $235.00 and gave the company a “neutral” rating in a research note on Tuesday, May 6th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $280.00 price objective on shares of Fabrinet in a research note on Tuesday, May 6th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Fabrinet presently has a consensus rating of “Moderate Buy” and an average price target of $247.50.

Fabrinet Stock Performance

Shares of NYSE:FN opened at $291.59 on Friday. The firm has a market cap of $10.45 billion, a PE ratio of 32.47 and a beta of 1.04. The firm’s fifty day moving average is $242.38 and its 200-day moving average is $222.54. Fabrinet has a 52 week low of $148.55 and a 52 week high of $300.29.

Fabrinet (NYSE:FN) last issued its quarterly earnings results on Monday, May 5th. The technology company reported $2.52 EPS for the quarter, topping analysts’ consensus estimates of $2.47 by $0.05. The company had revenue of $871.80 million for the quarter, compared to analyst estimates of $857.12 million. Fabrinet had a net margin of 10.00% and a return on equity of 17.99%. Fabrinet’s revenue was up 19.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.39 earnings per share. Sell-side analysts forecast that Fabrinet will post 9.4 EPS for the current year.

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.