Neuberger Berman Group LLC Has $29.47 Million Stake in Fabrinet $FN

Neuberger Berman Group LLC lowered its holdings in Fabrinet (NYSE:FN) by 2.0% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 99,975 shares of the technology company’s stock after selling 2,041 shares during the quarter. Neuberger Berman Group LLC’s holdings in Fabrinet were worth $29,465,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in FN. Coldstream Capital Management Inc. lifted its stake in Fabrinet by 3.2% during the second quarter. Coldstream Capital Management Inc. now owns 998 shares of the technology company’s stock worth $294,000 after purchasing an additional 31 shares during the period. IFP Advisors Inc grew its stake in shares of Fabrinet by 10.9% during the second quarter. IFP Advisors Inc now owns 347 shares of the technology company’s stock valued at $103,000 after purchasing an additional 34 shares during the last quarter. SBI Securities Co. Ltd. increased its stake in shares of Fabrinet by 21.7% in the 2nd quarter. SBI Securities Co. Ltd. now owns 219 shares of the technology company’s stock valued at $65,000 after buying an additional 39 shares during the period. Bessemer Group Inc. raised its holdings in Fabrinet by 33.6% during the 2nd quarter. Bessemer Group Inc. now owns 171 shares of the technology company’s stock worth $50,000 after purchasing an additional 43 shares during the last quarter. Finally, F m Investments LLC raised its stake in shares of Fabrinet by 0.3% during the second quarter. F m Investments LLC now owns 14,168 shares of the technology company’s stock worth $4,175,000 after buying an additional 46 shares during the last quarter. Institutional investors and hedge funds own 97.38% of the company’s stock.

Fabrinet Stock Performance

Shares of NYSE:FN opened at $459.41 on Friday. The business’s 50 day simple moving average is $409.63 and its two-hundred day simple moving average is $335.03. Fabrinet has a 52-week low of $148.55 and a 52-week high of $498.00. The firm has a market cap of $16.46 billion, a P/E ratio of 47.31 and a beta of 1.05.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Zacks Research upgraded Fabrinet from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 23rd. Barclays upped their target price on Fabrinet from $329.00 to $499.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 5th. JPMorgan Chase & Co. lifted their price objective on shares of Fabrinet from $430.00 to $530.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 4th. Rosenblatt Securities upped their target price on Fabrinet from $425.00 to $550.00 and gave the company a “buy” rating in a research report on Tuesday, November 4th. Finally, B. Riley upped their price target on shares of Fabrinet from $184.00 to $220.00 and gave the stock a “neutral” rating in a report on Tuesday, August 19th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $451.29.

Insider Buying and Selling at Fabrinet

In related news, COO Harpal Gill sold 14,203 shares of the business’s stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $355.15, for a total value of $5,044,195.45. Following the sale, the chief operating officer directly owned 13,983 shares in the company, valued at approximately $4,966,062.45. The trade was a 50.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Edward T. Archer sold 3,333 shares of the company’s stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $354.48, for a total transaction of $1,181,481.84. Following the sale, the executive vice president owned 6,644 shares in the company, valued at $2,355,165.12. The trade was a 33.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.24% of the company’s stock.

About Fabrinet

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.