Archford Capital Strategies LLC Reduces Stock Position in Fabrinet (NYSE:FN)

Archford Capital Strategies LLC decreased its position in Fabrinet (NYSE:FN) by 10.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,854 shares of the technology company’s stock after selling 222 shares during the quarter. Archford Capital Strategies LLC’s holdings in Fabrinet were worth $454,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Opal Wealth Advisors LLC bought a new position in Fabrinet in the 2nd quarter worth $28,000. GAMMA Investing LLC purchased a new stake in Fabrinet in the fourth quarter worth $34,000. Parallel Advisors LLC raised its holdings in Fabrinet by 59.7% in the fourth quarter. Parallel Advisors LLC now owns 206 shares of the technology company’s stock worth $39,000 after purchasing an additional 77 shares in the last quarter. UMB Bank n.a. purchased a new position in Fabrinet during the first quarter valued at $57,000. Finally, Headlands Technologies LLC bought a new stake in shares of Fabrinet during the 1st quarter valued at $63,000. 97.38% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on FN. JPMorgan Chase & Co. boosted their price objective on shares of Fabrinet from $230.00 to $240.00 and gave the stock a “neutral” rating in a research note on Monday. Needham & Company LLC reissued a “buy” rating and issued a $220.00 price target on shares of Fabrinet in a research report on Tuesday, May 7th. Jefferies Financial Group initiated coverage on Fabrinet in a research report on Wednesday, June 26th. They set a “hold” rating and a $230.00 price objective for the company. Finally, B. Riley dropped their target price on Fabrinet from $173.00 to $171.00 and set a “neutral” rating on the stock in a report on Tuesday, May 7th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $171.78.

Fabrinet Trading Down 0.9 %

FN traded down $2.01 during trading on Friday, hitting $228.46. 63,615 shares of the company’s stock traded hands, compared to its average volume of 430,720. Fabrinet has a 12-month low of $114.84 and a 12-month high of $266.39. The company’s 50 day simple moving average is $233.21 and its two-hundred day simple moving average is $213.69. The stock has a market capitalization of $8.26 billion, a price-to-earnings ratio of 30.60 and a beta of 0.96.

Insider Activity at Fabrinet

In other news, Director Frank H. Levinson sold 6,000 shares of Fabrinet stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $241.71, for a total value of $1,450,260.00. Following the completion of the sale, the director now directly owns 5,709 shares in the company, valued at $1,379,922.39. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.51% of the stock is currently owned by insiders.

Fabrinet Profile

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.