Fabrinet (NYSE:FN) Shares Sold by Benjamin Edwards Inc.

Key Points

• Benjamin Edwards Inc. reduced its position in Fabrinet (NYSE:FN) by 27.6% during the first quarter, selling 798 shares, resulting in a total holding of 2,089 shares valued at $413,000.
• Institutional investors and hedge funds now own 97.38% of Fabrinet's stock, with multiple firms, including Banque Cantonale Vaudoise, Wayfinding Financial, and Berbice Capital Management, acquiring new stakes.
• Fabrinet's stock has been upgraded by several analysts, with target prices set by JPMorgan Chase and Rosenblatt Securities ranging from $290.00 to $318.00, reflecting a generally positive outlook for the company.

Benjamin Edwards Inc. decreased its position in Fabrinet (NYSE:FN - Free Report) by 27.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,089 shares of the technology company's stock after selling 798 shares during the quarter. Benjamin Edwards Inc.'s holdings in Fabrinet were worth $413,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of FN. Banque Cantonale Vaudoise acquired a new stake in shares of Fabrinet in the first quarter valued at $29,000. Wayfinding Financial LLC acquired a new stake in shares of Fabrinet in the first quarter valued at $30,000. Berbice Capital Management LLC purchased a new stake in shares of Fabrinet during the first quarter valued at $30,000. Private Trust Co. NA lifted its holdings in shares of Fabrinet by 44.3% during the first quarter. Private Trust Co. NA now owns 166 shares of the technology company's stock valued at $33,000 after purchasing an additional 51 shares during the last quarter. Finally, SBI Securities Co. Ltd. lifted its holdings 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 last quarter. Institutional investors and hedge funds own 97.38% of the company's stock.

Fabrinet Trading Up 2.5%

Shares of Fabrinet stock opened at $330.06 on Friday. The stock has a 50-day moving average price of $296.70 and a 200 day moving average price of $239.93. The company has a market cap of $11.83 billion, a P/E ratio of 36.76 and a beta of 1.02. Fabrinet has a 1 year low of $148.55 and a 1 year high of $356.55.

Insider Transactions at Fabrinet

In related news, COO Harpal Gill sold 18,675 shares of the stock in a transaction dated 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 completion of the sale, the chief operating officer directly owned 18,068 shares of the company's stock, valued at approximately $4,336,320. This represents a 50.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.38% of the company's stock.

Analyst Upgrades and Downgrades

FN has been the subject of several analyst reports. JPMorgan Chase & Co. upped their target price on Fabrinet from $235.00 to $318.00 and gave the company a "neutral" rating in a report on Thursday, July 17th. Rosenblatt Securities upped their target price on Fabrinet from $250.00 to $290.00 and gave the company a "buy" rating in a report on Thursday, June 12th. Needham & Company LLC reaffirmed a "buy" rating and set a $280.00 target price on shares of Fabrinet in a report on Tuesday, May 6th. Wolfe Research initiated coverage on Fabrinet in a report on Tuesday, July 8th. They set a "peer perform" rating for the company. Finally, Barclays set a $234.00 target price on Fabrinet and gave the company an "equal weight" rating in a report on Tuesday, May 6th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, Fabrinet presently has a consensus rating of "Hold" and a consensus target price of $261.33.

Fabrinet 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.

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