Hood River Capital Management LLC Reduces Position in Fabrinet $FN

by · The Cerbat Gem

Hood River Capital Management LLC trimmed its holdings in Fabrinet (NYSE:FN – Free Report) by 33.3% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 261,546 shares of the technology company’s stock after selling 130,291 shares during the period. Hood River Capital Management LLC owned 0.73% of Fabrinet worth $77,072,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of FN. Maseco LLP acquired a new stake in Fabrinet in the 2nd quarter valued at about $25,000. Elevation Point Wealth Partners LLC purchased a new stake in shares of Fabrinet in the second quarter valued at approximately $35,000. First Horizon Advisors Inc. increased its holdings in shares of Fabrinet by 124.2% in the second quarter. First Horizon Advisors Inc. now owns 139 shares of the technology company’s stock valued at $41,000 after purchasing an additional 77 shares during the last quarter. Cullen Frost Bankers Inc. increased its holdings in shares of Fabrinet by 118.5% in the second quarter. Cullen Frost Bankers Inc. now owns 142 shares of the technology company’s stock valued at $42,000 after purchasing an additional 77 shares during the last quarter. Finally, REAP Financial Group LLC lifted its position in Fabrinet by 171.9% during the second quarter. REAP Financial Group LLC now owns 155 shares of the technology company’s stock worth $46,000 after buying an additional 98 shares in the last quarter. 97.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Thomas F. Kelly sold 2,200 shares of the business’s stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $464.14, for a total transaction of $1,021,108.00. Following the completion of the transaction, the director directly owned 18,789 shares of the company’s stock, valued at approximately $8,720,726.46. The trade was a 10.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Homa Bahrami sold 3,500 shares of the company’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $453.75, for a total transaction of $1,588,125.00. Following the sale, the director owned 18,316 shares in the company, valued at $8,310,885. The trade was a 16.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 28,151 shares of company stock worth $12,643,707. 0.24% of the stock is currently owned by company insiders.

Fabrinet Trading Up 1.5%

Shares of NYSE FN opened at $479.07 on Monday. The stock has a market capitalization of $17.16 billion, a PE ratio of 49.34 and a beta of 1.05. Fabrinet has a twelve month low of $148.55 and a twelve month high of $498.00. The stock has a fifty day simple moving average of $418.24 and a 200-day simple moving average of $344.67.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on FN shares. Needham & Company LLC upped their price objective on shares of Fabrinet from $440.00 to $540.00 and gave the company a “buy” rating in a report on Tuesday, November 4th. Northland Securities set a $550.00 target price on shares of Fabrinet in a report on Tuesday, November 4th. Barclays raised their price target on shares of Fabrinet from $329.00 to $499.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 5th. Weiss Ratings reiterated a “buy (b)” rating on shares of Fabrinet in a report on Tuesday, December 2nd. Finally, Rosenblatt Securities increased their price objective on Fabrinet from $425.00 to $550.00 and gave the stock a “buy” rating in a research report on Tuesday, November 4th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $451.29.

View Our Latest Stock Report on FN

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.

Further Reading

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