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

Level Four Advisory Services LLC raised its holdings in shares of Fabrinet (NYSE:FN) by 9.8% in the second quarter, HoldingsChannel.com reports. The firm owned 4,817 shares of the technology company’s stock after buying 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 SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Maseco LLP acquired a new position in shares of Fabrinet during the second quarter valued at about $25,000. Banque Cantonale Vaudoise acquired a new stake in shares of Fabrinet in the 1st quarter worth about $29,000. Elevation Point Wealth Partners LLC bought a new position in Fabrinet in the 2nd quarter valued at about $35,000. First Horizon Advisors Inc. boosted its stake in Fabrinet by 124.2% during the 2nd quarter. First Horizon Advisors Inc. now owns 139 shares of the technology company’s stock valued at $41,000 after purchasing an additional 77 shares during the last quarter. Finally, Cullen Frost Bankers Inc. increased its holdings in Fabrinet by 118.5% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 142 shares of the technology company’s stock worth $42,000 after purchasing an additional 77 shares in the last quarter. Institutional investors and hedge funds own 97.38% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on FN shares. Northland Securities set a $550.00 target price on Fabrinet in a report on Tuesday, November 4th. Barclays raised their price objective on Fabrinet from $329.00 to $499.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 5th. Needham & Company LLC increased their target price on shares of Fabrinet from $440.00 to $540.00 and gave the company a “buy” rating in a report on Tuesday, November 4th. B. Riley raised their price target on shares of Fabrinet from $184.00 to $220.00 and gave the company a “neutral” rating in a research report on Tuesday, August 19th. Finally, Zacks Research upgraded shares of Fabrinet from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 23rd. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Fabrinet currently has a consensus rating of “Moderate Buy” and a consensus target price of $451.29.

Insider Buying and Selling

In related news, COO Harpal Gill sold 14,203 shares of Fabrinet stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $355.15, for a total value of $5,044,195.45. Following the sale, the chief operating officer owned 13,983 shares of the company’s stock, valued at approximately $4,966,062.45. The trade was a 50.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 value of $1,181,481.84. Following the transaction, the executive vice president directly owned 6,644 shares of the company’s stock, valued at approximately $2,355,165.12. This trade represents a 33.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.24% of the stock is owned by corporate insiders.

Fabrinet Stock Performance

FN opened at $459.41 on Friday. Fabrinet has a fifty-two week low of $148.55 and a fifty-two week high of $498.00. The firm has a 50-day moving average of $409.63 and a 200 day moving average of $335.78. The firm has a market cap of $16.46 billion, a P/E ratio of 47.31 and a beta of 1.05.

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.