Mutual of America Capital Management LLC Sells 5,907 Shares of Fabrinet (NYSE:FN)

Mutual of America Capital Management LLC trimmed its holdings in shares of Fabrinet (NYSE:FNFree Report) by 14.9% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 33,626 shares of the technology company’s stock after selling 5,907 shares during the quarter. Mutual of America Capital Management LLC owned 0.09% of Fabrinet worth $5,603,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of FN. Capital International Investors lifted its holdings in shares of Fabrinet by 108.1% in the first quarter. Capital International Investors now owns 1,529,864 shares of the technology company’s stock valued at $160,835,000 after purchasing an additional 794,833 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in shares of Fabrinet by 1,165.6% in the first quarter. Envestnet Asset Management Inc. now owns 625,576 shares of the technology company’s stock worth $6,388,000 after purchasing an additional 576,147 shares in the last quarter. Polar Capital Holdings Plc acquired a new position in Fabrinet during the second quarter worth $73,479,000. Alyeska Investment Group L.P. acquired a new position in Fabrinet during the first quarter worth $33,032,000. Finally, Wellington Management Group LLP grew its position in Fabrinet by 90.6% in the first quarter. Wellington Management Group LLP now owns 413,227 shares of the technology company’s stock valued at $43,443,000 after purchasing an additional 196,477 shares in the last quarter. 97.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Fabrinet news, Director Thomas F. Kelly sold 3,000 shares of the company’s stock in a transaction on Monday, November 20th. The shares were sold at an average price of $171.31, for a total value of $513,930.00. Following the transaction, the director now directly owns 36,532 shares in the company, valued at $6,258,296.92. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Thomas F. Kelly sold 3,235 shares of the business’s stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $166.75, for a total value of $539,436.25. Following the completion of the sale, the director now directly owns 29,797 shares in the company, valued at approximately $4,968,649.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Thomas F. Kelly sold 3,000 shares of the stock in a transaction on Monday, November 20th. The stock was sold at an average price of $171.31, for a total value of $513,930.00. Following the transaction, the director now owns 36,532 shares in the company, valued at approximately $6,258,296.92. The disclosure for this sale can be found here. 0.51% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Rosenblatt Securities restated a “buy” rating and set a $230.00 price objective on shares of Fabrinet in a research note on Tuesday, February 6th. Northland Securities cut Fabrinet from an “outperform” rating to a “market perform” rating and set a $200.00 price target for the company. in a research report on Tuesday, February 6th. JPMorgan Chase & Co. downgraded Fabrinet from an “overweight” rating to a “neutral” rating and raised their price target for the company from $185.00 to $210.00 in a research note on Monday, January 8th. Finally, Royal Bank of Canada upped their price objective on Fabrinet from $40.00 to $42.00 and gave the stock a “sector perform” rating in a research note on Wednesday, November 1st. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $148.57.

Read Our Latest Report on Fabrinet

Fabrinet Stock Up 4.3 %

NYSE:FN opened at $204.56 on Monday. Fabrinet has a 12-month low of $90.19 and a 12-month high of $229.02. The firm has a market capitalization of $7.43 billion, a price-to-earnings ratio of 29.56 and a beta of 1.06. The stock’s 50 day moving average price is $192.00 and its two-hundred day moving average price is $167.75.

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.

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Institutional Ownership by Quarter for Fabrinet (NYSE:FN)

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