Fabrinet (NYSE:FN) CEO David T. Mitchell sold 52,500 shares of the stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $41.22, for a total transaction of $2,164,050.00. Following the transaction, the chief executive officer now owns 42,631 shares of the company’s stock, valued at $1,757,249.82. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.
Shares of Fabrinet (NYSE:FN) opened at 43.89 on Monday. The company has a 50-day moving average of $37.95 and a 200 day moving average of $39.72. The firm has a market capitalization of $1.64 billion, a P/E ratio of 18.45 and a beta of 1.08. Fabrinet has a 52 week low of $31.97 and a 52 week high of $49.63.
Fabrinet (NYSE:FN) last released its quarterly earnings results on Monday, May 8th. The technology company reported $0.57 earnings per share for the quarter, missing the consensus estimate of $0.74 by $0.17. Fabrinet had a return on equity of 14.95% and a net margin of 6.74%. The firm had revenue of $366.80 million for the quarter, compared to analysts’ expectations of $362.07 million. During the same quarter last year, the firm posted $0.56 earnings per share. The firm’s revenue for the quarter was up 46.1% compared to the same quarter last year. Equities research analysts anticipate that Fabrinet will post $3.36 earnings per share for the current year.
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Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Independence Advisors LLC purchased a new position in Fabrinet during the second quarter valued at $440,000. Clearbridge Investments LLC boosted its position in Fabrinet by 10.0% in the first quarter. Clearbridge Investments LLC now owns 8,810 shares of the technology company’s stock valued at $370,000 after buying an additional 800 shares during the period. Teachers Retirement System of The State of Kentucky boosted its position in Fabrinet by 30.5% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 13,700 shares of the technology company’s stock valued at $576,000 after buying an additional 3,200 shares during the period. Tower Research Capital LLC TRC boosted its position in Fabrinet by 1.9% in the first quarter. Tower Research Capital LLC TRC now owns 2,608 shares of the technology company’s stock valued at $110,000 after buying an additional 48 shares during the period. Finally, Meridian Wealth Management LLC boosted its position in Fabrinet by 1.7% in the first quarter. Meridian Wealth Management LLC now owns 7,571 shares of the technology company’s stock valued at $318,000 after buying an additional 125 shares during the period. Institutional investors and hedge funds own 94.28% of the company’s stock.
A number of equities analysts have recently commented on FN shares. B. Riley restated a “buy” rating and set a $44.75 price objective on shares of Fabrinet in a research note on Tuesday, May 9th. J P Morgan Chase & Co set a $57.00 price objective on shares of Fabrinet and gave the stock a “buy” rating in a research note on Thursday, June 1st. ValuEngine downgraded shares of Fabrinet from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Piper Jaffray Companies restated an “overweight” rating on shares of Fabrinet in a research note on Wednesday, May 10th. Finally, Zacks Investment Research downgraded shares of Fabrinet from a “hold” rating to a “sell” rating in a research note on Tuesday, May 2nd. One analyst has rated the stock with a sell rating, one has given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $53.13.
Fabrinet Company Profile
Fabrinet provides optical packaging and precision optical, electro-mechanical and electronic manufacturing services to original equipment manufacturers (OEMs) of products, such as optical communication components, modules and sub-systems, industrial lasers, medical devices and sensors. The Company offers a range of optical and electro-mechanical capabilities across the manufacturing process, including process design and engineering, supply chain management, manufacturing, complex printed circuit board assembly, advanced packaging, integration, final assembly and test.
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