Wealth Enhancement Advisory Services LLC Grows Stock Holdings in Fabrinet (NYSE:FN)

Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Fabrinet (NYSE:FN) by 13.8% in the third quarter, HoldingsChannel.com reports. The fund owned 4,003 shares of the technology company’s stock after buying an additional 484 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Fabrinet were worth $946,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FN. Opal Wealth Advisors LLC acquired a new position in Fabrinet during the second quarter worth about $28,000. Banque Cantonale Vaudoise acquired a new position in Fabrinet during the second quarter worth about $35,000. Kimelman & Baird LLC acquired a new position in Fabrinet during the second quarter worth about $49,000. NBC Securities Inc. raised its position in Fabrinet by 732.0% during the third quarter. NBC Securities Inc. now owns 208 shares of the technology company’s stock worth $49,000 after acquiring an additional 183 shares during the last quarter. Finally, UMB Bank n.a. raised its position in shares of Fabrinet by 252.9% in the third quarter. UMB Bank n.a. now owns 240 shares of the technology company’s stock valued at $57,000 after buying an additional 172 shares during the last quarter. Institutional investors and hedge funds own 97.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on FN shares. JPMorgan Chase & Co. boosted their price objective on shares of Fabrinet from $240.00 to $285.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. B. Riley cut their price objective on shares of Fabrinet from $196.00 to $194.00 and set a “neutral” rating for the company in a research report on Tuesday. Needham & Company LLC started coverage on shares of Fabrinet in a research report on Tuesday. They issued a “buy” rating and a $280.00 price objective for the company. Finally, Rosenblatt Securities boosted their price objective on shares of Fabrinet from $260.00 to $280.00 and gave the company a “buy” rating in a research report on Tuesday, August 20th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $248.17.

Fabrinet Stock Down 3.8 %

Shares of NYSE FN opened at $230.55 on Wednesday. The stock has a market capitalization of $8.36 billion, a PE ratio of 28.46 and a beta of 0.95. The firm has a fifty day moving average of $238.50 and a 200-day moving average of $231.70. Fabrinet has a 52-week low of $157.55 and a 52-week high of $278.38.

Fabrinet (NYSE:FN) last issued its earnings results on Monday, August 19th. The technology company reported $2.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.06 by $0.35. Fabrinet had a return on equity of 18.10% and a net margin of 10.27%. The business had revenue of $753.26 million during the quarter, compared to analysts’ expectations of $732.63 million. During the same quarter in the previous year, the business earned $1.68 EPS. The company’s revenue for the quarter was up 14.8% on a year-over-year basis. Equities research analysts expect that Fabrinet will post 9.11 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Edward T. Archer sold 8,690 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $220.26, for a total transaction of $1,914,059.40. Following the transaction, the executive vice president now directly owns 8,333 shares of the company’s stock, valued at approximately $1,835,426.58. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Fabrinet news, EVP Edward T. Archer sold 8,690 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $220.26, for a total value of $1,914,059.40. Following the transaction, the executive vice president now directly owns 8,333 shares of the company’s stock, valued at $1,835,426.58. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Csaba Sverha sold 100 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $270.00, for a total value of $27,000.00. Following the completion of the transaction, the chief financial officer now directly owns 19,347 shares in the company, valued at approximately $5,223,690. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 44,728 shares of company stock valued at $11,645,062. Corporate insiders own 0.38% of the company’s stock.

Fabrinet Company 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.