2,892 Shares of Fabrinet $FN Purchased by B.A. Schrock Wealth Management Inc.

B.A. Schrock Wealth Management Inc. bought a new position in Fabrinet (NYSE:FN) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,892 shares of the technology company’s stock, valued at approximately $1,305,000.

A number of other institutional investors have also recently made changes to their positions in FN. Avior Wealth Management LLC lifted its position in Fabrinet by 77.9% in the 3rd quarter. Avior Wealth Management LLC now owns 790 shares of the technology company’s stock valued at $335,000 after acquiring an additional 346 shares in the last quarter. Wedmont Private Capital bought a new stake in shares of Fabrinet in the 3rd quarter worth $331,000. Byrne Asset Management LLC bought a new stake in shares of Fabrinet in the 3rd quarter worth $27,000. Cim Investment Management Inc. increased its holdings in shares of Fabrinet by 7.4% in the 2nd quarter. Cim Investment Management Inc. now owns 1,113 shares of the technology company’s stock worth $626,000 after purchasing an additional 77 shares in the last quarter. Finally, QRG Capital Management Inc. raised its stake in shares of Fabrinet by 13.9% in the second quarter. QRG Capital Management Inc. now owns 2,008 shares of the technology company’s stock worth $1,128,000 after purchasing an additional 245 shares during the last quarter. Hedge funds and other institutional investors own 97.38% of the company’s stock.

Insider Transactions at Fabrinet

In other Fabrinet news, EVP Edward Archer sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $385.91, for a total transaction of $964,775.00. Following the completion of the sale, the executive vice president directly owned 7,007 shares of the company’s stock, valued at approximately $2,704,071.37. This represents a 26.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.24% of the company’s stock.

Fabrinet Stock Performance

FN stock opened at $393.11 on Thursday. Fabrinet has a fifty-two week low of $370.91 and a fifty-two week high of $748.89. The business’s 50-day moving average is $446.34 and its two-hundred day moving average is $541.12. The company has a market cap of $14.08 billion, a price-to-earnings ratio of 32.44 and a beta of 1.23.

Fabrinet (NYSE:FN) last released its quarterly earnings results on Tuesday, August 18th. The technology company reported $4.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.81 by $0.29. The business had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.28 billion. Fabrinet had a return on equity of 21.23% and a net margin of 10.19%. The business’s quarterly revenue was up 44.6% compared to the same quarter last year. During the same period in the previous year, the company posted $2.65 EPS. Equities analysts predict that Fabrinet will post 17.50 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on FN. Weiss Ratings downgraded Fabrinet from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, September 9th. Fox Advisors upgraded shares of Fabrinet from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, August 19th. Wall Street Zen lowered shares of Fabrinet from a “buy” rating to a “hold” rating in a research note on Monday, July 20th. JPMorgan Chase & Co. boosted their price objective on shares of Fabrinet from $680.00 to $695.00 and gave the company a “neutral” rating in a report on Tuesday, August 18th. Finally, Zacks Research upgraded shares of Fabrinet from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 5th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $649.50.

About Fabrinet

Fabrinet (NYSE: FN) provides advanced manufacturing services for companies that develop optical, electro-optical, and precision-engineered products. The company supports customers from product design and engineering through manufacturing, assembly, testing, and supply-chain management.

Its products and manufacturing capabilities include optical communications components, modules, and assemblies; precision optical and optoelectronic systems; industrial lasers; and other complex products used in communications, industrial, automotive, medical, and other technology markets.