Swiss National Bank Sells 800 Shares of Fabrinet (NYSE:FN)

Swiss National Bank cut its position in Fabrinet (NYSE:FN) by 1.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 70,240 shares of the technology company’s stock after selling 800 shares during the quarter. Swiss National Bank’s holdings in Fabrinet were worth $13,873,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. Banque Cantonale Vaudoise bought a new stake in Fabrinet during the first quarter valued at about $29,000. Wayfinding Financial LLC bought a new position in Fabrinet during the first quarter valued at about $30,000. Berbice Capital Management LLC acquired a new position in Fabrinet in the 1st quarter valued at approximately $30,000. Private Trust Co. NA grew its holdings in shares of Fabrinet by 44.3% during the 1st quarter. Private Trust Co. NA now owns 166 shares of the technology company’s stock worth $33,000 after purchasing an additional 51 shares in the last quarter. Finally, SBI Securities Co. Ltd. increased its position in shares of Fabrinet by 93.5% during the first quarter. SBI Securities Co. Ltd. now owns 180 shares of the technology company’s stock valued at $36,000 after purchasing an additional 87 shares during the period. Institutional investors own 97.38% of the company’s stock.

Fabrinet Trading Down 4.6%

NYSE:FN opened at $321.86 on Friday. The stock has a market capitalization of $11.53 billion, a P/E ratio of 35.84 and a beta of 1.02. Fabrinet has a 1 year low of $148.55 and a 1 year high of $356.55. The firm has a 50 day moving average of $294.80 and a 200-day moving average of $239.08.

Insiders Place Their Bets

In other Fabrinet news, COO Harpal Gill sold 18,675 shares of the business’s stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $240.00, for a total value of $4,482,000.00. Following the transaction, the chief operating officer owned 18,068 shares of the company’s stock, valued at approximately $4,336,320. The trade was a 50.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.38% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

FN has been the subject of several research reports. Wolfe Research started coverage on Fabrinet in a research report on Tuesday, July 8th. They issued a “peer perform” rating for the company. JPMorgan Chase & Co. increased their price target on shares of Fabrinet from $235.00 to $318.00 and gave the stock a “neutral” rating in a research report on Thursday, July 17th. Needham & Company LLC reissued a “buy” rating and issued a $280.00 target price on shares of Fabrinet in a report on Tuesday, May 6th. Rosenblatt Securities raised their target price on Fabrinet from $250.00 to $290.00 and gave the stock a “buy” rating in a research report on Thursday, June 12th. Finally, Barclays set a $234.00 price target on 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $261.33.

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.