CW Advisors LLC Makes New Investment in Fabrinet $FN

CW Advisors LLC purchased a new stake in Fabrinet (NYSE:FN) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,740 shares of the technology company’s stock, valued at approximately $513,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Atria Wealth Solutions Inc. lifted its holdings in shares of Fabrinet by 40.8% during the 1st quarter. Atria Wealth Solutions Inc. now owns 5,457 shares of the technology company’s stock valued at $1,078,000 after purchasing an additional 1,582 shares in the last quarter. Canada Pension Plan Investment Board raised its holdings in Fabrinet by 76.1% during the 1st quarter. Canada Pension Plan Investment Board now owns 69,400 shares of the technology company’s stock worth $13,707,000 after buying an additional 30,000 shares during the period. Deutsche Bank AG lifted its stake in Fabrinet by 13.9% in the first quarter. Deutsche Bank AG now owns 51,549 shares of the technology company’s stock valued at $10,181,000 after buying an additional 6,272 shares in the last quarter. Nordea Investment Management AB boosted its holdings in shares of Fabrinet by 0.3% in the second quarter. Nordea Investment Management AB now owns 43,411 shares of the technology company’s stock valued at $12,845,000 after buying an additional 132 shares during the period. Finally, Value Aligned Research Advisors LLC increased its position in shares of Fabrinet by 240.9% during the first quarter. Value Aligned Research Advisors LLC now owns 114,443 shares of the technology company’s stock worth $22,604,000 after acquiring an additional 80,873 shares in the last quarter. 97.38% of the stock is currently owned by institutional investors.

Fabrinet Price Performance

Fabrinet stock opened at $497.95 on Wednesday. The company’s 50-day moving average is $423.44 and its 200-day moving average is $348.39. The firm has a market capitalization of $17.84 billion, a PE ratio of 51.28 and a beta of 1.05. Fabrinet has a fifty-two week low of $148.55 and a fifty-two week high of $499.97.

Insiders Place Their Bets

In other news, Director Homa Bahrami sold 3,500 shares of Fabrinet 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 completion of the transaction, the director directly owned 18,316 shares in the company, valued at approximately $8,310,885. The trade was a 16.04% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Thomas F. Kelly sold 2,200 shares of the business’s stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $464.14, for a total value of $1,021,108.00. Following the transaction, the director directly owned 18,789 shares in the company, valued at $8,720,726.46. The trade was a 10.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 28,151 shares of company stock valued at $12,643,707 over the last 90 days. 0.24% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on FN shares. Zacks Research raised shares of Fabrinet from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 23rd. Barclays boosted their price target on Fabrinet from $329.00 to $499.00 and gave the company an “equal weight” rating in a report on Wednesday, November 5th. JPMorgan Chase & Co. upped their price objective on Fabrinet from $430.00 to $530.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 4th. B. Riley lifted their target price on Fabrinet from $184.00 to $220.00 and gave the company a “neutral” rating in a research report on Tuesday, August 19th. Finally, Northland Securities set a $550.00 price target on Fabrinet 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 stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $451.29.

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.