Fabrinet (NYSE:FN) Director David T. Mitchell sold 40,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $46.14, for a total value of $1,845,600.00. Following the sale, the director now directly owns 69,641 shares in the company, valued at $3,213,235.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
FN opened at $46.73 on Thursday. The company has a market cap of $1.75 billion, a PE ratio of 15.68, a price-to-earnings-growth ratio of 1.28 and a beta of 0.64. Fabrinet has a one year low of $24.02 and a one year high of $48.97. The company has a current ratio of 3.16, a quick ratio of 2.21 and a debt-to-equity ratio of 0.08.
Fabrinet (NYSE:FN) last released its earnings results on Monday, August 20th. The technology company reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.06. The firm had revenue of $345.30 million for the quarter, compared to analysts’ expectations of $338.12 million. Fabrinet had a return on equity of 12.68% and a net margin of 6.14%. The company’s quarterly revenue was down 6.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.86 earnings per share. equities research analysts predict that Fabrinet will post 3.12 earnings per share for the current year.
Several equities research analysts have weighed in on the company. B. Riley cut Fabrinet from a “buy” rating to a “neutral” rating and set a $52.00 price objective on the stock. in a research note on Tuesday. Zacks Investment Research cut Fabrinet from a “buy” rating to a “hold” rating in a research note on Friday, August 24th. ValuEngine raised Fabrinet from a “hold” rating to a “buy” rating in a research note on Thursday, August 23rd. Piper Jaffray Companies boosted their price objective on Fabrinet from $42.00 to $52.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 21st. Finally, Needham & Company LLC boosted their price objective on Fabrinet from $55.00 to $58.00 and gave the stock a “buy” rating in a research note on Wednesday. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Fabrinet has a consensus rating of “Buy” and a consensus price target of $45.86.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Optimum Investment Advisors purchased a new stake in shares of Fabrinet in the first quarter valued at approximately $115,000. First Mercantile Trust Co. purchased a new stake in shares of Fabrinet in the first quarter valued at approximately $134,000. Xact Kapitalforvaltning AB purchased a new stake in shares of Fabrinet in the second quarter valued at approximately $226,000. 6 Meridian purchased a new stake in shares of Fabrinet in the first quarter valued at approximately $203,000. Finally, Profund Advisors LLC purchased a new stake in shares of Fabrinet in the first quarter valued at approximately $207,000. 99.54% of the stock is currently owned by hedge funds and other institutional investors.
Fabrinet provides optical packaging and precision optical, electro-mechanical, and electronic manufacturing services to original equipment manufacturers of optical communication components, modules and sub-systems, industrial lasers, medical devices, and sensors. It offers a range of optical and electro-mechanical capabilities across the manufacturing process, including process design and engineering, supply chain management, manufacturing, printed circuit board assembly, packaging, integration, final assembly, and test.
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