Fabrinet (NYSE:FN) insider David T. Mitchell sold 32,021 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $29.30, for a total value of $938,215.30. Following the transaction, the insider now owns 111,057 shares in the company, valued at $3,253,970.10. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.
Shares of Fabrinet (FN) opened at $29.14 on Friday. The firm has a market capitalization of $1,086.37, a PE ratio of 12.40, a P/E/G ratio of 1.15 and a beta of 0.75. Fabrinet has a fifty-two week low of $24.02 and a fifty-two week high of $49.63. The company has a current ratio of 2.84, a quick ratio of 1.99 and a debt-to-equity ratio of 0.02.
Fabrinet (NYSE:FN) last issued its earnings results on Monday, February 5th. The technology company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.02. The company had revenue of $337.10 million during the quarter, compared to analysts’ expectations of $329.41 million. Fabrinet had a return on equity of 12.96% and a net margin of 6.24%. Fabrinet’s quarterly revenue was down 4.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.91 EPS. equities analysts predict that Fabrinet will post 2.12 earnings per share for the current fiscal year.
Hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC purchased a new stake in Fabrinet during the 3rd quarter valued at about $161,000. Russell Investments Group Ltd. boosted its holdings in Fabrinet by 139.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 4,821 shares of the technology company’s stock valued at $179,000 after acquiring an additional 2,810 shares during the period. Invictus RG purchased a new stake in Fabrinet during the 4th quarter valued at about $194,000. Miles Capital Inc. purchased a new stake in Fabrinet in the 4th quarter worth approximately $219,000. Finally, Unison Advisors LLC purchased a new stake in Fabrinet in the 4th quarter worth approximately $220,000. Institutional investors own 94.25% of the company’s stock.
Several equities analysts have recently commented on FN shares. Piper Jaffray Companies reiterated a “buy” rating on shares of Fabrinet in a research report on Friday, November 10th. Zacks Investment Research lowered Fabrinet from a “hold” rating to a “sell” rating in a research report on Friday, November 10th. JPMorgan Chase & Co. lowered Fabrinet from an “overweight” rating to a “neutral” rating and set a $42.00 price objective on the stock. in a research report on Tuesday, November 7th. B. Riley reduced their price objective on Fabrinet from $46.50 to $42.50 and set a “buy” rating on the stock in a research report on Friday, November 3rd. Finally, Needham & Company LLC reduced their price objective on Fabrinet from $60.00 to $45.00 and set a “strong-buy” rating on the stock in a research report on Tuesday, November 7th. Two analysts have rated the stock with a sell rating, one has given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $41.25.
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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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