Redhawk Wealth Advisors Inc. Acquires New Stake in Fabrinet $FN

Redhawk Wealth Advisors Inc. acquired a new stake in shares of Fabrinet (NYSE:FN) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 3,426 shares of the technology company’s stock, valued at approximately $1,249,000.

Several other hedge funds also recently bought and sold shares of the business. Russell Investments Group Ltd. lifted its position in shares of Fabrinet by 35.6% during the first quarter. Russell Investments Group Ltd. now owns 24,000 shares of the technology company’s stock valued at $4,740,000 after buying an additional 6,303 shares during the last quarter. American Century Companies Inc. lifted its stake in Fabrinet by 10.9% in the 1st quarter. American Century Companies Inc. now owns 22,980 shares of the technology company’s stock valued at $4,539,000 after buying an additional 2,253 shares in the last quarter. Brooklyn Investment Group grew its holdings in Fabrinet by 1,818.8% in the 1st quarter. Brooklyn Investment Group now owns 614 shares of the technology company’s stock valued at $121,000 after buying an additional 582 shares in the last quarter. Capital Fund Management S.A. lifted its stake in shares of Fabrinet by 32.7% in the 1st quarter. Capital Fund Management S.A. now owns 89,426 shares of the technology company’s stock valued at $17,663,000 after purchasing an additional 22,047 shares during the last quarter. Finally, Bragg Financial Advisors Inc boosted its position in shares of Fabrinet by 6.6% during the first quarter. Bragg Financial Advisors Inc now owns 159,302 shares of the technology company’s stock worth $31,464,000 after buying an additional 9,864 shares during the period. Institutional investors own 97.38% of the company’s stock.

Insiders Place Their Bets

In other Fabrinet news, CEO Seamus Grady sold 22,451 shares of the business’s stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of $446.95, for a total transaction of $10,034,474.45. Following the completion of the sale, the chief executive officer directly owned 23,573 shares in the company, valued at $10,535,952.35. The trade was a 48.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Thomas F. Kelly sold 2,200 shares of the business’s stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $464.14, for a total value of $1,021,108.00. Following the completion of the transaction, the director owned 18,789 shares in the company, valued at $8,720,726.46. The trade was a 10.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 28,151 shares of company stock valued at $12,643,707. Corporate insiders own 0.24% of the company’s stock.

Fabrinet Stock Performance

Shares of FN stock opened at $452.51 on Friday. The company has a market cap of $16.21 billion, a P/E ratio of 46.60 and a beta of 1.05. Fabrinet has a fifty-two week low of $148.55 and a fifty-two week high of $531.22. The stock has a 50 day simple moving average of $437.44 and a two-hundred day simple moving average of $358.49.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on FN shares. Northland Securities set a $550.00 price objective on Fabrinet in a report on Tuesday, November 4th. Rosenblatt Securities raised their price objective on shares of Fabrinet from $425.00 to $550.00 and gave the company a “buy” rating in a research note on Tuesday, November 4th. Susquehanna assumed coverage on Fabrinet in a research report on Monday. They issued a “positive” rating and a $550.00 target price for the company. Weiss Ratings restated a “buy (b-)” rating on shares of Fabrinet in a report on Monday. Finally, Barclays lifted their target price on shares of Fabrinet from $329.00 to $499.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 5th. One investment 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 stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $463.63.

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.