Wealth Enhancement Advisory Services LLC Has $968,000 Position in Fabrinet (NYSE:FN)

Wealth Enhancement Advisory Services LLC increased its holdings in Fabrinet (NYSE:FN) by 10.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,402 shares of the technology company’s stock after purchasing an additional 399 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Fabrinet were worth $968,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FN. Huntington National Bank increased its position in shares of Fabrinet by 66.7% during the 4th quarter. Huntington National Bank now owns 230 shares of the technology company’s stock worth $51,000 after purchasing an additional 92 shares in the last quarter. Quarry LP raised its stake in shares of Fabrinet by 315.8% in the fourth quarter. Quarry LP now owns 237 shares of the technology company’s stock valued at $52,000 after acquiring an additional 180 shares during the last quarter. Orion Capital Management LLC bought a new position in shares of Fabrinet in the fourth quarter valued at approximately $62,000. IFP Advisors Inc boosted its holdings in shares of Fabrinet by 576.2% in the 4th quarter. IFP Advisors Inc now owns 284 shares of the technology company’s stock worth $63,000 after acquiring an additional 242 shares in the last quarter. Finally, Assetmark Inc. grew its position in Fabrinet by 12.0% during the 4th quarter. Assetmark Inc. now owns 484 shares of the technology company’s stock worth $106,000 after acquiring an additional 52 shares during the last quarter. Institutional investors own 97.38% of the company’s stock.

Wall Street Analyst Weigh In

FN has been the subject of several research analyst reports. JPMorgan Chase & Co. lifted their price objective on Fabrinet from $220.00 to $235.00 and gave the company a “neutral” rating in a research report on Tuesday, May 6th. B. Riley raised Fabrinet from a “sell” rating to a “neutral” rating and cut their price target for the company from $178.00 to $176.00 in a report on Friday, April 4th. Needham & Company LLC reiterated a “buy” rating and set a $280.00 price target on shares of Fabrinet in a research report on Tuesday, May 6th. Rosenblatt Securities raised their price objective on shares of Fabrinet from $230.00 to $250.00 and gave the company a “buy” rating in a research report on Tuesday, May 6th. Finally, 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 target price for the company. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Fabrinet has a consensus rating of “Hold” and an average target price of $239.29.

Insider Buying and Selling at Fabrinet

In related news, COO Harpal Gill sold 18,675 shares of Fabrinet stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $240.00, for a total transaction of $4,482,000.00. Following the transaction, the chief operating officer now owns 18,068 shares of the company’s stock, valued at $4,336,320. This trade represents a 50.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Rollance E. Olson sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $223.98, for a total transaction of $559,950.00. Following the transaction, the director now owns 23,201 shares of the company’s stock, valued at approximately $5,196,559.98. This represents a 9.73% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.38% of the company’s stock.

Fabrinet Stock Down 1.0%

Shares of FN stock opened at $234.82 on Monday. The firm has a market cap of $8.41 billion, a price-to-earnings ratio of 26.27 and a beta of 0.98. Fabrinet has a 12 month low of $148.55 and a 12 month high of $281.79. The stock has a 50-day moving average price of $208.46 and a 200 day moving average price of $217.48.

Fabrinet (NYSE:FN) last issued its quarterly earnings results on Monday, May 5th. The technology company reported $2.52 EPS for the quarter, topping the consensus estimate of $2.47 by $0.05. The company had revenue of $871.80 million during the quarter, compared to analysts’ expectations of $857.12 million. Fabrinet had a net margin of 10.44% and a return on equity of 18.48%. Fabrinet’s revenue was up 19.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.39 EPS. Sell-side analysts predict that Fabrinet will post 9.4 earnings per share for the current fiscal 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.