SG Americas Securities LLC Has $3.12 Million Stock Position in Fabrinet $FN

SG Americas Securities LLC boosted its holdings in shares of Fabrinet (NYSE:FN) by 412.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,556 shares of the technology company’s stock after acquiring an additional 6,886 shares during the quarter. SG Americas Securities LLC’s holdings in Fabrinet were worth $3,120,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Maseco LLP purchased a new stake in shares of Fabrinet in the second quarter worth approximately $25,000. Elevation Point Wealth Partners LLC purchased a new position in Fabrinet during the second quarter valued at approximately $35,000. First Horizon Advisors Inc. increased its stake in Fabrinet by 124.2% in the 2nd quarter. First Horizon Advisors Inc. now owns 139 shares of the technology company’s stock valued at $41,000 after buying an additional 77 shares during the period. Cullen Frost Bankers Inc. increased its stake in Fabrinet by 118.5% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 142 shares of the technology company’s stock valued at $42,000 after buying an additional 77 shares during the period. Finally, REAP Financial Group LLC lifted its position in Fabrinet by 171.9% in the 2nd quarter. REAP Financial Group LLC now owns 155 shares of the technology company’s stock worth $46,000 after buying an additional 98 shares in the last quarter. Hedge funds and other institutional investors own 97.38% of the company’s stock.

Fabrinet Stock Up 3.5%

Shares of Fabrinet stock opened at $462.67 on Tuesday. Fabrinet has a 12-month low of $148.55 and a 12-month high of $531.22. The stock has a 50 day moving average price of $456.35 and a two-hundred day moving average price of $385.57. The stock has a market capitalization of $16.58 billion, a P/E ratio of 47.65 and a beta of 1.04.

Analysts Set New Price Targets

A number of research firms have recently weighed in on FN. Zacks Research downgraded shares of Fabrinet from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. Barclays boosted their target price on Fabrinet from $329.00 to $499.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 5th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Fabrinet in a research report on Monday, December 29th. JPMorgan Chase & Co. lifted their price target on Fabrinet from $430.00 to $530.00 and gave the company an “overweight” rating in a report on Tuesday, November 4th. Finally, Needham & Company LLC boosted their price target on Fabrinet from $440.00 to $540.00 and gave the company a “buy” rating in a research note on Tuesday, November 4th. Six equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $469.88.

Insider Transactions at Fabrinet

In related news, Director Homa Bahrami sold 3,500 shares of Fabrinet stock in a transaction on Monday, December 1st. The shares were sold at an average price of $453.75, for a total value of $1,588,125.00. Following the transaction, the director owned 18,316 shares in the company, valued at $8,310,885. This trade represents a 16.04% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Seamus Grady sold 22,451 shares of the business’s stock in a transaction on Wednesday, November 26th. The stock was sold at an average price of $446.95, for a total transaction of $10,034,474.45. Following the transaction, the chief executive officer directly owned 23,573 shares of the company’s stock, valued at approximately $10,535,952.35. This represents a 48.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 28,151 shares of company stock worth $12,643,707. 0.24% of the stock is owned by insiders.

Fabrinet Company Profile

Fabrinet is a global provider of advanced optical packaging and precision optical, electro‐mechanical and electronic manufacturing services (CEM). The company specializes in complex manufacturing processes for original equipment manufacturers (OEMs) in communications, data center, industrial, instrumentation and medical markets. Key capabilities include high‐precision fiber alignment, micro‐assembly, testing and diagnostics, and integration of electro‐optic subassemblies.

Incorporated in 2000, Fabrinet operates under a corporate structure headquartered in Singapore with additional regional offices and design centers in the Americas, Europe and Asia.