Fabrinet $FN Shares Purchased by Quantinno Capital Management LP

Quantinno Capital Management LP boosted its holdings in Fabrinet (NYSE:FN) by 130.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,039 shares of the technology company’s stock after acquiring an additional 3,989 shares during the quarter. Quantinno Capital Management LP’s holdings in Fabrinet were worth $3,671,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of FN. Core Wealth Advisors LLC acquired a new stake in shares of Fabrinet during the 4th quarter valued at $25,000. Cassaday & Co Wealth Management LLC acquired a new stake in Fabrinet during the 1st quarter worth about $31,000. Harbour Investments Inc. raised its holdings in Fabrinet by 75.0% during the 4th quarter. Harbour Investments Inc. now owns 63 shares of the technology company’s stock worth $29,000 after buying an additional 27 shares during the period. Creative Financial Designs Inc. ADV purchased a new stake in Fabrinet during the fourth quarter valued at about $32,000. Finally, Quarry LP grew its holdings in shares of Fabrinet by 300.0% during the fourth quarter. Quarry LP now owns 72 shares of the technology company’s stock valued at $33,000 after buying an additional 54 shares in the last quarter. 97.38% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Fabrinet news, Director Homa Bahrami sold 2,500 shares of the firm’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $711.91, for a total transaction of $1,779,775.00. Following the completion of the transaction, the director owned 16,233 shares in the company, valued at $11,556,435.03. This trade represents a 13.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.24% of the stock is currently owned by company insiders.

Fabrinet Stock Up 3.3%

Shares of FN stock opened at $561.84 on Friday. Fabrinet has a 12 month low of $272.49 and a 12 month high of $748.89. The firm has a market cap of $20.13 billion, a PE ratio of 48.27 and a beta of 1.23. The stock has a 50 day moving average of $539.39 and a 200-day moving average of $565.45.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on FN shares. Northland Securities set a $800.00 price target on Fabrinet in a research report on Monday, April 20th. Barclays lifted their target price on shares of Fabrinet from $548.00 to $702.00 and gave the company an “overweight” rating in a research note on Tuesday, May 5th. Needham & Company LLC lowered their price target on shares of Fabrinet from $800.00 to $650.00 and set a “buy” rating on the stock in a report on Wednesday, July 22nd. JPMorgan Chase & Co. cut their price objective on shares of Fabrinet from $700.00 to $680.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 5th. Finally, Rosenblatt Securities lifted their target price on shares of Fabrinet from $715.00 to $750.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. Six investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, Fabrinet presently has an average rating of “Moderate Buy” and an average price target of $643.00.

About Fabrinet

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.