Fulcrum Wealth Advisors LLC Buys 2,508 Shares of Fabrinet $FN

Fulcrum Wealth Advisors LLC acquired a new stake in shares of Fabrinet (NYSE:FN) during the third quarter, HoldingsChannel.com reports. The fund acquired 2,508 shares of the technology company’s stock, valued at approximately $1,064,000. Fabrinet comprises about 0.7% of Fulcrum Wealth Advisors LLC’s investment portfolio, making the stock its 28th largest position.

Several other institutional investors have also recently bought and sold shares of the company. Paradigm Capital Management Inc. NY acquired a new position in Fabrinet during the 2nd quarter worth $298,183,000. Janus Henderson Group PLC grew its position in shares of Fabrinet by 15.9% in the first quarter. Janus Henderson Group PLC now owns 291,659 shares of the technology company’s stock valued at $152,071,000 after purchasing an additional 40,090 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Fabrinet by 15.0% in the first quarter. Principal Financial Group Inc. now owns 216,049 shares of the technology company’s stock worth $112,674,000 after purchasing an additional 28,166 shares during the period. Allspring Global Investments Holdings LLC increased its stake in shares of Fabrinet by 108.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 165,146 shares of the technology company’s stock worth $88,350,000 after purchasing an additional 85,780 shares during the period. Finally, Wedge Capital Management L L P NC increased its stake in shares of Fabrinet by 11.5% in the second quarter. Wedge Capital Management L L P NC now owns 128,795 shares of the technology company’s stock worth $72,393,000 after purchasing an additional 13,245 shares during the period. Institutional investors own 97.38% of the company’s stock.

Insider Activity

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

Fabrinet Stock Down 5.5%

Shares of FN opened at $364.20 on Friday. The stock’s 50-day moving average price is $439.18 and its 200 day moving average price is $538.71. The firm has a market capitalization of $13.05 billion, a price-to-earnings ratio of 27.91 and a beta of 1.23. Fabrinet has a 12-month low of $362.64 and a 12-month high of $748.89.

Fabrinet (NYSE:FN) last announced its quarterly earnings data on Tuesday, August 18th. The technology company reported $4.10 EPS for the quarter, topping analysts’ consensus estimates of $3.81 by $0.29. Fabrinet had a return on equity of 21.23% and a net margin of 10.19%. The company had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter last year, the company earned $2.65 EPS. The company’s quarterly revenue was up 44.6% on a year-over-year basis. Equities research analysts expect that Fabrinet will post 17.50 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Rosenblatt Securities reissued a “buy” rating and set a $750.00 price objective on shares of Fabrinet in a research report on Tuesday, August 18th. B. Riley Financial lowered their target price on Fabrinet from $598.00 to $431.00 and set a “neutral” rating on the stock in a report on Thursday. Zacks Research raised Fabrinet from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 5th. Weiss Ratings lowered Fabrinet from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, September 9th. Finally, Wall Street Zen lowered Fabrinet from a “buy” rating to a “hold” rating in a report on Monday, July 20th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $646.88.

Fabrinet Profile

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.