57,458 Shares in Fabrinet (NYSE:FN) Bought by Congress Wealth Management LLC DE

Congress Wealth Management LLC DE purchased a new stake in Fabrinet (NYSE:FN) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 57,458 shares of the technology company’s stock, valued at approximately $10,936,000. Congress Wealth Management LLC DE owned 0.16% of Fabrinet at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. First Eagle Investment Management LLC lifted its holdings in shares of Fabrinet by 0.8% during the fourth quarter. First Eagle Investment Management LLC now owns 7,508 shares of the technology company’s stock valued at $1,429,000 after acquiring an additional 60 shares during the period. Campbell Newman Asset Management Inc. grew its holdings in shares of Fabrinet by 0.4% during the fourth quarter. Campbell Newman Asset Management Inc. now owns 17,895 shares of the technology company’s stock worth $3,406,000 after purchasing an additional 64 shares during the last quarter. Signaturefd LLC increased its stake in shares of Fabrinet by 15.9% in the third quarter. Signaturefd LLC now owns 503 shares of the technology company’s stock valued at $84,000 after buying an additional 69 shares in the last quarter. Sequoia Financial Advisors LLC raised its holdings in shares of Fabrinet by 3.2% in the third quarter. Sequoia Financial Advisors LLC now owns 2,396 shares of the technology company’s stock valued at $399,000 after buying an additional 75 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. lifted its position in Fabrinet by 3.5% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 2,208 shares of the technology company’s stock worth $368,000 after buying an additional 75 shares in the last quarter. Institutional investors and hedge funds own 97.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. upped their target price on shares of Fabrinet from $210.00 to $212.00 and gave the stock a “neutral” rating in a research report on Thursday, April 11th. Northland Securities upgraded Fabrinet from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $200.00 to $220.00 in a research report on Thursday, March 21st. Needham & Company LLC restated a “buy” rating and set a $220.00 target price on shares of Fabrinet in a research report on Tuesday, May 7th. B. Riley reduced their target price on shares of Fabrinet from $173.00 to $171.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 7th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $230.00 price target on shares of Fabrinet in a research note on Tuesday, February 6th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $161.00.

Fabrinet Price Performance

Shares of Fabrinet stock traded up $3.68 during trading hours on Friday, hitting $246.07. The company’s stock had a trading volume of 400,215 shares, compared to its average volume of 524,604. The company has a market capitalization of $8.90 billion, a PE ratio of 32.68 and a beta of 1.04. The stock has a 50 day moving average of $194.73 and a 200 day moving average of $191.90. Fabrinet has a 12 month low of $97.82 and a 12 month high of $248.00.

Insider Activity at Fabrinet

In other Fabrinet news, Director Frank H. Levinson sold 6,000 shares of the business’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $241.71, for a total value of $1,450,260.00. Following the sale, the director now owns 5,709 shares in the company, valued at approximately $1,379,922.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.51% of the stock is currently owned by insiders.

About Fabrinet

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.