Ameriprise Financial Inc. Sells 1,776 Shares of Fabrinet (FN)
Ameriprise Financial Inc. cut its holdings in shares of Fabrinet (NYSE:FN) by 0.9% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 199,777 shares of the technology company’s stock after selling 1,776 shares during the period. Ameriprise Financial Inc. owned 0.53% of Fabrinet worth $7,404,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. YorkBridge Wealth Partners LLC boosted its stake in shares of Fabrinet by 14.1% during the second quarter. YorkBridge Wealth Partners LLC now owns 2,727 shares of the technology company’s stock valued at $117,000 after purchasing an additional 338 shares in the last quarter. Riverhead Capital Management LLC boosted its stake in shares of Fabrinet by 68.5% during the second quarter. Riverhead Capital Management LLC now owns 2,864 shares of the technology company’s stock valued at $122,000 after purchasing an additional 1,164 shares in the last quarter. Flinton Capital Management LLC boosted its stake in shares of Fabrinet by 62.7% during the second quarter. Flinton Capital Management LLC now owns 3,706 shares of the technology company’s stock valued at $158,000 after purchasing an additional 1,428 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Fabrinet during the third quarter valued at approximately $161,000. Finally, Russell Investments Group Ltd. boosted its stake in shares of Fabrinet by 139.7% during the third quarter. Russell Investments Group Ltd. now owns 4,821 shares of the technology company’s stock valued at $179,000 after purchasing an additional 2,810 shares in the last quarter. Hedge funds and other institutional investors own 94.23% of the company’s stock.
Fabrinet (NYSE:FN) opened at $29.25 on Monday. The stock has a market cap of $1,111.50, a price-to-earnings ratio of 11.65, a price-to-earnings-growth ratio of 1.11 and a beta of 0.99. Fabrinet has a fifty-two week low of $28.60 and a fifty-two week high of $49.63. The company has a quick ratio of 1.85, a current ratio of 2.70 and a debt-to-equity ratio of 0.03.
In other Fabrinet news, insider David T. Mitchell sold 50,000 shares of the firm’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $30.93, for a total value of $1,546,500.00. Following the completion of the transaction, the insider now owns 111,057 shares of the company’s stock, valued at $3,434,993.01. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 3.30% of the company’s stock.
A number of equities research analysts recently commented on FN shares. B. Riley reissued a “buy” rating and set a $46.50 target price on shares of Fabrinet in a research report on Monday, August 28th. JPMorgan Chase & Co. cut shares of Fabrinet from an “overweight” rating to a “neutral” rating and set a $42.00 target price for the company. in a research report on Tuesday, November 7th. Needham & Company LLC decreased their target price on shares of Fabrinet from $60.00 to $45.00 and set a “strong-buy” rating for the company in a research report on Tuesday, November 7th. Piper Jaffray Companies reissued a “buy” rating on shares of Fabrinet in a research report on Friday, November 10th. Finally, Zacks Investment Research cut shares of Fabrinet from a “hold” rating to a “sell” rating in a research report on Friday, November 10th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Fabrinet currently has a consensus rating of “Hold” and an average target price of $46.42.
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Fabrinet provides optical packaging and precision optical, electro-mechanical and electronic manufacturing services to original equipment manufacturers (OEMs) of products, such as optical communication components, modules and sub-systems, industrial lasers, medical devices and sensors. The Company offers a range of optical and electro-mechanical capabilities across the manufacturing process, including process design and engineering, supply chain management, manufacturing, complex printed circuit board assembly, advanced packaging, integration, final assembly and test.
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