Fulcrum Wealth Advisors LLC Makes New $1.06 Million Investment in Fabrinet $FN

Fulcrum Wealth Advisors LLC purchased a new position in Fabrinet (NYSE:FN) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 2,508 shares of the technology company’s stock, valued at approximately $1,064,000. Fabrinet makes up 0.7% of Fulcrum Wealth Advisors LLC’s investment portfolio, making the stock its 28th biggest position.

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

Insider Buying and Selling at Fabrinet

In other news, EVP Edward Archer sold 2,500 shares of the firm’s stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $385.91, for a total transaction of $964,775.00. Following the completion of the sale, the executive vice president directly owned 7,007 shares of the company’s stock, valued at $2,704,071.37. This trade represents a 26.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.24% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

FN has been the subject of a number of research reports. Zacks Research upgraded Fabrinet from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 5th. Rosenblatt Securities reaffirmed a “buy” rating and set a $750.00 target price on shares of Fabrinet in a research note on Tuesday, August 18th. Wall Street Zen downgraded Fabrinet from a “buy” rating to a “hold” rating in a report on Monday, July 20th. Fox Advisors raised shares of Fabrinet from an “equal weight” rating to an “overweight” rating in a research report on Wednesday, August 19th. Finally, B. Riley Financial reduced their price target on shares of Fabrinet from $598.00 to $431.00 and set a “neutral” rating for the company in a research report on Thursday. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $646.88.

Fabrinet Trading Down 5.5%

NYSE FN opened at $364.20 on Friday. Fabrinet has a 1-year low of $362.64 and a 1-year high of $748.89. The company has a market capitalization of $13.05 billion, a PE ratio of 27.91 and a beta of 1.23. The firm’s fifty day simple moving average is $439.18 and its 200-day simple moving average is $538.71.

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

Fabrinet Company 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.