Fabrinet (NYSE:FN) Director Rollance E. Olson sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 19th. The shares were sold at an average price of $55.62, for a total transaction of $278,100.00. Following the sale, the director now owns 47,410 shares in the company, valued at $2,636,944.20. The sale was disclosed in a filing with the SEC, which is available at this link.
Shares of FN stock opened at $56.18 on Friday. The company has a market cap of $2.09 billion, a P/E ratio of 18.85, a price-to-earnings-growth ratio of 1.35 and a beta of 0.61. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.26 and a current ratio of 3.19. Fabrinet has a 12 month low of $27.63 and a 12 month high of $58.24.
Fabrinet (NYSE:FN) last posted its earnings results on Monday, February 4th. The technology company reported $0.97 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.92 by $0.05. Fabrinet had a net margin of 7.08% and a return on equity of 14.91%. The business had revenue of $403.10 million for the quarter, compared to analysts’ expectations of $386.22 million. During the same period in the prior year, the company posted $0.72 EPS. The business’s revenue for the quarter was up 19.6% compared to the same quarter last year. As a group, research analysts forecast that Fabrinet will post 3.24 EPS for the current year.
A number of brokerages recently commented on FN. Piper Jaffray Companies upped their price target on shares of Fabrinet from $56.00 to $61.00 and gave the company an “overweight” rating in a research note on Thursday, January 24th. Zacks Investment Research cut shares of Fabrinet from a “buy” rating to a “hold” rating in a research note on Monday, January 14th. Finally, Needham & Company LLC restated a “buy” rating and set a $62.00 price target (up from $58.00) on shares of Fabrinet in a research note on Tuesday, December 18th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $53.17.
A number of hedge funds and other institutional investors have recently bought and sold shares of FN. Bank of New York Mellon Corp increased its holdings in shares of Fabrinet by 52.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,092,082 shares of the technology company’s stock worth $40,288,000 after buying an additional 375,901 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Fabrinet by 2.5% in the 2nd quarter. Northern Trust Corp now owns 648,584 shares of the technology company’s stock worth $23,926,000 after buying an additional 16,038 shares during the last quarter. United Services Automobile Association bought a new position in shares of Fabrinet in the 2nd quarter worth $234,000. Bank of Montreal Can increased its holdings in shares of Fabrinet by 14,272.5% in the 3rd quarter. Bank of Montreal Can now owns 89,972 shares of the technology company’s stock worth $4,162,000 after buying an additional 89,346 shares during the last quarter. Finally, Seven Eight Capital LP bought a new position in shares of Fabrinet in the 3rd quarter worth $546,000. Institutional investors and hedge funds own 90.05% of the company’s stock.
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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 optical and electro-mechanical capabilities in 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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