Alliance Wealth Advisors LLC UT Acquires New Shares in Fabrinet (NYSE:FN)

Alliance Wealth Advisors LLC UT bought a new position in shares of Fabrinet (NYSE:FN) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,420 shares of the technology company’s stock, valued at approximately $270,000.

A number of other large investors have also recently modified their holdings of the business. Campbell Newman Asset Management Inc. lifted its stake in Fabrinet by 0.4% in the fourth quarter. Campbell Newman Asset Management Inc. now owns 17,895 shares of the technology company’s stock worth $3,406,000 after purchasing an additional 64 shares during the last quarter. Signaturefd LLC lifted its position in shares of Fabrinet by 15.9% in the 3rd quarter. Signaturefd LLC now owns 503 shares of the technology company’s stock worth $84,000 after purchasing an additional 69 shares during the period. Raymond James Financial Services Advisors Inc. boosted its stake in shares of Fabrinet by 3.5% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 2,208 shares of the technology company’s stock valued at $368,000 after purchasing an additional 75 shares in the last quarter. Sequoia Financial Advisors LLC increased its position in shares of Fabrinet by 3.2% during the third quarter. Sequoia Financial Advisors LLC now owns 2,396 shares of the technology company’s stock valued at $399,000 after buying an additional 75 shares during the period. Finally, Mariner LLC raised its stake in Fabrinet by 2.1% in the third quarter. Mariner LLC now owns 4,103 shares of the technology company’s stock worth $684,000 after buying an additional 85 shares in the last quarter. Institutional investors own 97.38% of the company’s stock.

Insider Activity

In other news, Director Rollance E. Olson sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $205.52, for a total transaction of $2,055,200.00. Following the completion of the transaction, the director now directly owns 25,981 shares of the company’s stock, valued at $5,339,615.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.51% of the company’s stock.

Fabrinet Stock Up 1.9 %

Shares of NYSE FN traded up $3.25 during midday trading on Friday, hitting $175.45. The stock had a trading volume of 218,112 shares, compared to its average volume of 417,698. The business’s 50 day moving average is $191.71 and its 200-day moving average is $185.19. Fabrinet has a 52 week low of $90.19 and a 52 week high of $229.02. The company has a market cap of $6.37 billion, a P/E ratio of 25.35 and a beta of 1.04.

Fabrinet (NYSE:FN) last announced its quarterly earnings data on Monday, February 5th. The technology company reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.84 by $0.05. Fabrinet had a net margin of 9.35% and a return on equity of 17.27%. The company had revenue of $712.69 million during the quarter, compared to analyst estimates of $699.76 million. As a group, analysts expect that Fabrinet will post 7.59 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on FN shares. JPMorgan Chase & Co. upped their target price on Fabrinet from $210.00 to $212.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. Northland Securities upgraded shares of Fabrinet from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $200.00 to $220.00 in a report on Thursday, March 21st. Needham & Company LLC decreased their target price on shares of Fabrinet from $230.00 to $220.00 and set a “buy” rating for the company in a research note on Friday, March 22nd. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $230.00 price target on shares of Fabrinet in a research report on Tuesday, February 6th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $159.57.

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.