Fabrinet (NYSE:FN) Director Sells $559,950.00 in Stock

Fabrinet (NYSE:FN) Director Rollance E. Olson sold 2,500 shares of the stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $223.98, for a total value of $559,950.00. Following the completion of the transaction, the director now owns 23,201 shares of the company’s stock, valued at approximately $5,196,559.98. This trade represents a 9.73% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Fabrinet Price Performance

Fabrinet stock opened at $223.76 on Friday. Fabrinet has a one year low of $148.55 and a one year high of $281.79. The stock has a market capitalization of $8.02 billion, a PE ratio of 25.03 and a beta of 0.95. The business’s fifty day moving average is $202.36 and its 200 day moving average is $219.46.

Fabrinet (NYSE:FN) last released its quarterly earnings data on Monday, May 5th. The technology company reported $2.52 EPS for the quarter, beating the consensus estimate of $2.47 by $0.05. Fabrinet had a return on equity of 18.48% and a net margin of 10.44%. The company had revenue of $871.80 million for the quarter, compared to analysts’ expectations of $857.12 million. During the same period last year, the firm posted $2.39 earnings per share. Fabrinet’s revenue was up 19.2% compared to the same quarter last year. As a group, sell-side analysts expect that Fabrinet will post 9.4 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. B. Riley upgraded Fabrinet from a “sell” rating to a “neutral” rating and decreased their price objective for the stock from $178.00 to $176.00 in a report on Friday, April 4th. Needham & Company LLC reissued a “buy” rating and issued a $280.00 target price on shares of Fabrinet in a research note on Tuesday, May 6th. Barclays set a $234.00 target price on Fabrinet and gave the stock an “equal weight” rating in a research note on Tuesday, May 6th. Fox Advisors assumed coverage on Fabrinet in a research note on Tuesday, February 18th. They issued an “overweight” rating and a $270.00 target price on the stock. Finally, Rosenblatt Securities increased their target price on Fabrinet from $230.00 to $250.00 and gave the stock a “buy” rating in a research note on Tuesday, May 6th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $239.29.

Institutional Investors Weigh In On Fabrinet

Institutional investors have recently modified their holdings of the business. Banque Cantonale Vaudoise purchased a new stake in shares of Fabrinet during the first quarter valued at $29,000. Wayfinding Financial LLC purchased a new stake in shares of Fabrinet during the first quarter valued at $30,000. Berbice Capital Management LLC purchased a new position in Fabrinet in the first quarter worth about $30,000. Private Trust Co. NA boosted its position in Fabrinet by 44.3% in the first quarter. Private Trust Co. NA now owns 166 shares of the technology company’s stock worth $33,000 after purchasing an additional 51 shares during the last quarter. Finally, SBI Securities Co. Ltd. boosted its position in Fabrinet by 93.5% in the first quarter. SBI Securities Co. Ltd. now owns 180 shares of the technology company’s stock worth $36,000 after purchasing an additional 87 shares during the last quarter. 97.38% of the stock is owned by hedge funds and other institutional investors.

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.