AlphaMark Advisors LLC Makes New $435,000 Investment in Fabrinet (NYSE:FN)

AlphaMark Advisors LLC acquired a new stake in Fabrinet (NYSE:FN) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 1,778 shares of the technology company’s stock, valued at approximately $435,000.

A number of other hedge funds have also modified their holdings of the stock. Opal Wealth Advisors LLC acquired a new stake in Fabrinet in the 2nd quarter valued at $28,000. GAMMA Investing LLC bought a new stake in shares of Fabrinet in the 4th quarter worth about $34,000. Parallel Advisors LLC increased its position in shares of Fabrinet by 59.7% during the 4th quarter. Parallel Advisors LLC now owns 206 shares of the technology company’s stock worth $39,000 after purchasing an additional 77 shares in the last quarter. UMB Bank n.a. bought a new position in Fabrinet during the 1st quarter valued at about $57,000. Finally, Headlands Technologies LLC bought a new position in Fabrinet during the 1st quarter valued at about $63,000. 97.38% of the stock is owned by institutional investors and hedge funds.

Fabrinet Stock Up 5.8 %

NYSE:FN traded up $12.65 during trading hours on Thursday, hitting $230.42. 477,262 shares of the stock were exchanged, compared to its average volume of 433,058. The company has a market capitalization of $8.33 billion, a P/E ratio of 30.60 and a beta of 0.96. The company’s 50 day moving average is $233.21 and its two-hundred day moving average is $213.69. Fabrinet has a twelve month low of $114.83 and a twelve month high of $266.39.

Insider Transactions at Fabrinet

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

Wall Street Analyst Weigh In

FN has been the topic of several research analyst reports. Jefferies Financial Group initiated coverage on shares of Fabrinet in a research note on Wednesday, June 26th. They set a “hold” rating and a $230.00 price objective on the stock. JPMorgan Chase & Co. increased their price target on Fabrinet from $230.00 to $240.00 and gave the stock a “neutral” rating in a research report on Monday. Needham & Company LLC reiterated a “buy” rating and issued a $220.00 price objective on shares of Fabrinet in a research report on Tuesday, May 7th. Finally, B. Riley reduced their price objective on Fabrinet from $173.00 to $171.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 7th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $171.78.

Fabrinet Company 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.