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

Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Fabrinet (NYSE:FN) by 10.0% during the fourth quarter, HoldingsChannel reports. The firm owned 4,402 shares of the technology company’s stock after acquiring an additional 399 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Fabrinet were worth $968,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of FN. Cim LLC lifted its position in Fabrinet by 1.4% in the 4th quarter. Cim LLC now owns 6,013 shares of the technology company’s stock valued at $1,322,000 after acquiring an additional 82 shares in the last quarter. Menard Financial Group LLC raised its stake in shares of Fabrinet by 34.1% in the 4th quarter. Menard Financial Group LLC now owns 1,707 shares of the technology company’s stock valued at $375,000 after purchasing an additional 434 shares during the period. Polar Asset Management Partners Inc. bought a new stake in shares of Fabrinet in the fourth quarter valued at about $3,364,000. Orion Capital Management LLC acquired a new position in shares of Fabrinet during the fourth quarter worth about $62,000. Finally, PharVision Advisers LLC bought a new position in shares of Fabrinet during the fourth quarter worth about $221,000. Institutional investors own 97.38% of the company’s stock.

Insider Activity at Fabrinet

In other news, COO Harpal Gill sold 18,675 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief operating officer now owns 18,068 shares in the company, valued at approximately $4,336,320. This trade represents a 50.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Rollance E. Olson sold 2,500 shares of Fabrinet stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $223.98, for a total transaction of $559,950.00. Following the sale, the director now directly owns 23,201 shares of the company’s stock, valued at $5,196,559.98. The trade was a 9.73% decrease in their position. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Needham & Company LLC reissued a “buy” rating and issued a $280.00 target price on shares of Fabrinet in a research report on Tuesday, May 6th. Fox Advisors began coverage on shares of Fabrinet in a research report on Tuesday, February 18th. They issued an “overweight” rating and a $270.00 price objective on the stock. JPMorgan Chase & Co. raised their target price on shares of Fabrinet from $220.00 to $235.00 and gave the company a “neutral” rating in a research report on Tuesday, May 6th. Barclays set a $234.00 price target on shares of Fabrinet and gave the company an “equal weight” rating in a research note on Tuesday, May 6th. Finally, Rosenblatt Securities increased their price objective on shares of Fabrinet from $230.00 to $250.00 and gave the stock a “buy” rating in a research note on Tuesday, May 6th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $239.29.

Fabrinet Trading Down 1.0%

NYSE:FN opened at $234.82 on Monday. The stock has a market capitalization of $8.41 billion, a PE ratio of 26.27 and a beta of 0.98. Fabrinet has a 1-year low of $148.55 and a 1-year high of $281.79. The firm has a fifty day simple moving average of $208.46 and a 200 day simple moving average of $217.48.

Fabrinet (NYSE:FN) last announced its quarterly earnings data on Monday, May 5th. The technology company reported $2.52 EPS for the quarter, beating analysts’ consensus estimates of $2.47 by $0.05. The company had revenue of $871.80 million during the quarter, compared to the consensus estimate of $857.12 million. Fabrinet had a net margin of 10.44% and a return on equity of 18.48%. The company’s quarterly revenue was up 19.2% on a year-over-year basis. During the same quarter last year, the firm posted $2.39 EPS. On average, equities 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.