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Virtu Financial LLC Takes $349,000 Position in Fabrinet (NYSE:FN)

Fabrinet logo with Computer and Technology background

Virtu Financial LLC purchased a new stake in shares of Fabrinet (NYSE:FN - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 1,767 shares of the technology company's stock, valued at approximately $349,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in FN. Banque Cantonale Vaudoise purchased a new stake in shares of Fabrinet during the 1st quarter valued at about $29,000. Wayfinding Financial LLC purchased a new stake in shares of Fabrinet during the 1st quarter valued at about $30,000. Berbice Capital Management LLC purchased a new stake in shares of Fabrinet during the 1st quarter valued at about $30,000. Private Trust Co. NA increased its holdings in Fabrinet by 44.3% in the 1st quarter. Private Trust Co. NA now owns 166 shares of the technology company's stock worth $33,000 after acquiring an additional 51 shares in the last quarter. Finally, SBI Securities Co. Ltd. increased its holdings in Fabrinet by 93.5% in the 1st quarter. SBI Securities Co. Ltd. now owns 180 shares of the technology company's stock worth $36,000 after acquiring an additional 87 shares in the last quarter. Hedge funds and other institutional investors own 97.38% of the company's stock.

Fabrinet Price Performance

FN stock opened at $321.86 on Friday. Fabrinet has a 1-year low of $148.55 and a 1-year high of $356.55. The company has a market capitalization of $11.53 billion, a price-to-earnings ratio of 35.84 and a beta of 1.02. The business has a 50 day simple moving average of $294.80 and a two-hundred day simple moving average of $239.08.

Wall Street Analyst Weigh In

Several research firms recently issued reports on FN. Wolfe Research began coverage on shares of Fabrinet in a report on Tuesday, July 8th. They issued a "peer perform" rating for the company. JPMorgan Chase & Co. increased their target price on shares of Fabrinet from $235.00 to $318.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. Rosenblatt Securities increased their target price on shares of Fabrinet from $250.00 to $290.00 and gave the stock a "buy" rating in a report on Thursday, June 12th. 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. Finally, Barclays set a $234.00 target price on shares of Fabrinet and gave the stock an "equal weight" rating in a 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 MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $261.33.

Get Our Latest Research Report on Fabrinet

Insiders Place Their Bets

In other Fabrinet news, COO Harpal Gill sold 18,675 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the chief operating officer directly owned 18,068 shares in the company, valued at $4,336,320. This represents a 50.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.38% of the stock is owned by insiders.

Fabrinet Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Fabrinet (NYSE:FN)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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