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

Atria Wealth Solutions Inc. increased its position in shares of Fabrinet (NYSE:FN) by 40.8% in the 1st quarter, Holdings Channel.com reports. The firm 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 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wasatch Advisors LP increased its position in Fabrinet by 47.0% during the fourth quarter. Wasatch Advisors LP now owns 1,132,636 shares of the technology company’s stock worth $249,044,000 after purchasing an additional 362,064 shares during the last quarter. Baillie Gifford & Co. increased its position in Fabrinet by 16.5% during the first quarter. Baillie Gifford & Co. now owns 644,557 shares of the technology company’s stock worth $127,306,000 after purchasing an additional 91,519 shares during the last quarter. Northern Trust Corp increased its position in Fabrinet by 14.6% during the fourth quarter. Northern Trust Corp now owns 499,356 shares of the technology company’s stock worth $109,798,000 after purchasing an additional 63,686 shares during the last quarter. TD Asset Management Inc increased its position in Fabrinet by 17.8% during the first quarter. TD Asset Management Inc now owns 478,104 shares of the technology company’s stock worth $94,430,000 after purchasing an additional 72,385 shares during the last quarter. Finally, Capital Research Global Investors increased its position in Fabrinet by 675.2% during the fourth quarter. Capital Research Global Investors now owns 417,020 shares of the technology company’s stock worth $91,694,000 after purchasing an additional 363,228 shares during the last quarter. 97.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

FN has been the subject of several recent analyst reports. Needham & Company LLC restated a “buy” rating and set a $280.00 price objective on shares of Fabrinet in a research report on Tuesday, May 6th. JPMorgan Chase & Co. lifted their price target on shares of Fabrinet from $235.00 to $318.00 and gave the company a “neutral” rating in a research report on Thursday, July 17th. Rosenblatt Securities lifted their price target on shares of Fabrinet from $250.00 to $290.00 and gave the company a “buy” rating in a research report on Thursday, June 12th. Wolfe Research began coverage on shares of Fabrinet in a research report on Tuesday, July 8th. They set a “peer perform” rating for the company. Finally, Barclays set a $234.00 price target on shares of Fabrinet and gave the company an “equal weight” rating in a research report on Tuesday, May 6th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Fabrinet currently has a consensus rating of “Hold” and a consensus target price of $261.33.

Fabrinet Stock Down 3.3%

Shares of Fabrinet stock opened at $332.61 on Tuesday. Fabrinet has a 52-week low of $148.55 and a 52-week high of $345.71. The company has a 50 day moving average of $288.96 and a 200 day moving average of $236.78. The company has a market capitalization of $11.92 billion, a P/E ratio of 37.04 and a beta of 1.02.

Insider Transactions at Fabrinet

In related news, COO Harpal Gill sold 18,675 shares of Fabrinet stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $240.00, for a total value of $4,482,000.00. Following the completion of the transaction, the chief operating officer owned 18,068 shares in the company, valued at $4,336,320. The trade was a 50.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.38% of the stock is owned by corporate insiders.

About Fabrinet

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.