Atria Wealth Solutions Inc. Decreases Position in Fabrinet (NYSE:FN)

Atria Wealth Solutions Inc. decreased its holdings in Fabrinet (NYSE:FN) by 17.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,875 shares of the technology company’s stock after selling 834 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Fabrinet were worth $852,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Wedge Capital Management L L P NC acquired a new position in Fabrinet during the 4th quarter valued at approximately $63,222,000. Whale Rock Capital Management LLC increased its position in shares of Fabrinet by 25.8% in the 3rd quarter. Whale Rock Capital Management LLC now owns 855,767 shares of the technology company’s stock valued at $202,338,000 after acquiring an additional 175,684 shares during the period. Stephens Investment Management Group LLC purchased a new position in Fabrinet in the 4th quarter worth $28,218,000. World Investment Advisors LLC acquired a new stake in Fabrinet during the 3rd quarter worth about $20,187,000. Finally, DekaBank Deutsche Girozentrale grew its stake in Fabrinet by 3,831.4% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 82,088 shares of the technology company’s stock valued at $19,465,000 after purchasing an additional 80,000 shares during the last quarter. 97.38% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

FN has been the subject of several research analyst reports. Barclays reduced their price objective on Fabrinet from $292.00 to $245.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 4th. B. Riley lowered shares of Fabrinet from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $194.00 to $178.00 in a research report on Wednesday, November 20th. Rosenblatt Securities lifted their price objective on shares of Fabrinet from $280.00 to $285.00 and gave the company a “buy” rating in a research note on Tuesday, February 4th. Fox Advisors assumed coverage on shares of Fabrinet in a research note on Tuesday, February 18th. They issued an “overweight” rating and a $270.00 price objective on the stock. Finally, Needham & Company LLC restated a “buy” rating and set a $280.00 target price on shares of Fabrinet in a research report on Tuesday, February 4th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Fabrinet has a consensus rating of “Hold” and an average target price of $246.63.

Fabrinet Stock Performance

Shares of NYSE FN opened at $215.05 on Tuesday. The company has a market capitalization of $7.80 billion, a PE ratio of 24.05 and a beta of 0.92. The company’s fifty day moving average price is $226.21 and its 200 day moving average price is $234.63. Fabrinet has a 1 year low of $159.69 and a 1 year high of $281.79.

Fabrinet (NYSE:FN) last posted its earnings results on Monday, February 3rd. The technology company reported $2.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.48 by ($0.10). Fabrinet had a return on equity of 18.48% and a net margin of 10.44%. On average, equities analysts expect that Fabrinet will post 9.4 EPS for the current year.

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.