World Investment Advisors Acquires Shares of 1,453 Fabrinet $FN

World Investment Advisors bought a new position in Fabrinet (NYSE:FN) during the third quarter, according to its most recent Form 13F filing with the SEC. The firm bought 1,453 shares of the technology company’s stock, valued at approximately $530,000.

A number of other large investors have also made changes to their positions in FN. Canada Pension Plan Investment Board increased its position in Fabrinet by 76.1% during the first quarter. Canada Pension Plan Investment Board now owns 69,400 shares of the technology company’s stock worth $13,707,000 after purchasing an additional 30,000 shares during the last quarter. Nordea Investment Management AB grew its stake in shares of Fabrinet by 0.3% in the 2nd quarter. Nordea Investment Management AB now owns 43,411 shares of the technology company’s stock valued at $12,845,000 after buying an additional 132 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Fabrinet by 1.0% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 424,741 shares of the technology company’s stock valued at $125,163,000 after buying an additional 4,043 shares during the period. Argent Capital Management LLC acquired a new stake in shares of Fabrinet during the 3rd quarter worth approximately $4,931,000. Finally, William Blair Investment Management LLC purchased a new stake in shares of Fabrinet during the 2nd quarter valued at approximately $26,243,000. 97.38% of the stock is currently owned by hedge funds and other institutional investors.

Fabrinet Price Performance

NYSE FN opened at $471.22 on Tuesday. The company has a market cap of $16.88 billion, a P/E ratio of 48.53 and a beta of 1.05. The stock has a 50-day moving average of $449.76 and a two-hundred day moving average of $372.07. Fabrinet has a 1-year low of $148.55 and a 1-year high of $531.22.

Insider Buying and Selling

In other Fabrinet news, CEO Seamus Grady sold 22,451 shares of the business’s stock in a transaction on Wednesday, November 26th. The shares were sold at an average price of $446.95, for a total value of $10,034,474.45. Following the completion of the transaction, the chief executive officer owned 23,573 shares in the company, valued at $10,535,952.35. The trade was a 48.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Thomas F. Kelly sold 2,200 shares of the stock in a transaction on 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 sale, the director owned 18,789 shares in the company, valued at approximately $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. Insiders have sold a total of 28,151 shares of company stock valued at $12,643,707 in the last ninety days. Company insiders own 0.24% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on FN. Rosenblatt Securities increased their price objective on Fabrinet from $425.00 to $550.00 and gave the stock a “buy” rating in a research report on Tuesday, November 4th. Barclays upped their price target on Fabrinet from $329.00 to $499.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 5th. Weiss Ratings reissued a “buy (b-)” rating on shares of Fabrinet in a research report on Monday, December 22nd. Needham & Company LLC upped their target price on shares of Fabrinet from $440.00 to $540.00 and gave the company a “buy” rating in a research report on Tuesday, November 4th. Finally, JPMorgan Chase & Co. increased their target price on shares of Fabrinet from $430.00 to $530.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 4th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued 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 a consensus price target of $469.88.

Fabrinet Profile

Fabrinet is a global provider of advanced optical packaging and precision optical, electro‐mechanical and electronic manufacturing services (CEM). The company specializes in complex manufacturing processes for original equipment manufacturers (OEMs) in communications, data center, industrial, instrumentation and medical markets. Key capabilities include high‐precision fiber alignment, micro‐assembly, testing and diagnostics, and integration of electro‐optic subassemblies.

Incorporated in 2000, Fabrinet operates under a corporate structure headquartered in Singapore with additional regional offices and design centers in the Americas, Europe and Asia.