Level Four Advisory Services LLC Buys 431 Shares of Fabrinet $FN

Level Four Advisory Services LLC grew its position in Fabrinet (NYSE:FN) by 9.8% in the second quarter, according to its most recent filing with the SEC. The fund owned 4,817 shares of the technology company’s stock after acquiring an additional 431 shares during the period. Level Four Advisory Services LLC’s holdings in Fabrinet were worth $1,419,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. State Board of Administration of Florida Retirement System boosted its stake in shares of Fabrinet by 17.4% during the second quarter. State Board of Administration of Florida Retirement System now owns 9,674 shares of the technology company’s stock valued at $2,851,000 after purchasing an additional 1,434 shares in the last quarter. Elevation Point Wealth Partners LLC acquired a new stake in Fabrinet during the 2nd quarter worth approximately $35,000. Choreo LLC bought a new stake in Fabrinet during the 2nd quarter worth approximately $603,000. Associated Banc Corp acquired a new position in Fabrinet in the 2nd quarter valued at approximately $266,000. Finally, Advisors Asset Management Inc. raised its stake in shares of Fabrinet by 8.9% during the second quarter. Advisors Asset Management Inc. now owns 2,589 shares of the technology company’s stock valued at $763,000 after acquiring an additional 211 shares during the last quarter. Institutional investors own 97.38% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Edward T. Archer sold 3,333 shares of the stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $354.48, for a total transaction of $1,181,481.84. Following the transaction, the executive vice president directly owned 6,644 shares of the company’s stock, valued at $2,355,165.12. This represents a 33.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Harpal Gill sold 14,203 shares of the firm’s stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $355.15, for a total transaction of $5,044,195.45. Following the completion of the sale, the chief operating officer owned 13,983 shares of the company’s stock, valued at $4,966,062.45. The trade was a 50.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.24% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on FN shares. Barclays increased their price objective on Fabrinet from $329.00 to $499.00 and gave the company an “equal weight” rating in a report on Wednesday, November 5th. Northland Securities set a $550.00 price target on Fabrinet in a research note on Tuesday, November 4th. B. Riley raised their price objective on Fabrinet from $184.00 to $220.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 19th. Rosenblatt Securities upped their target price on Fabrinet from $425.00 to $550.00 and gave the company a “buy” rating in a report on Tuesday, November 4th. Finally, Needham & Company LLC raised their price target on shares of Fabrinet from $440.00 to $540.00 and gave the stock a “buy” rating in a report on Tuesday, November 4th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Fabrinet presently has an average rating of “Moderate Buy” and a consensus target price of $451.29.

Fabrinet Stock Performance

Shares of FN opened at $459.41 on Friday. The firm has a market cap of $16.46 billion, a PE ratio of 47.31 and a beta of 1.05. Fabrinet has a 52-week low of $148.55 and a 52-week high of $498.00. The business’s 50 day moving average price is $409.63 and its two-hundred day moving average price is $335.78.

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.