Traders Buy Large Volume of Fabrinet Put Options (NYSE:FN)

Fabrinet (NYSE:FN - Get Free Report) was the target of unusually large options trading on Friday. Stock investors purchased 2,012 put options on the company. This is an increase of approximately 332% compared to the typical daily volume of 466 put options.

Fabrinet Stock Performance

Shares of FN traded down $8.56 during mid-day trading on Tuesday, reaching $222.77. The company had a trading volume of 498,889 shares, compared to its average volume of 548,913. The company has a market capitalization of $8.08 billion, a price-to-earnings ratio of 24.92 and a beta of 0.89. The company's 50 day simple moving average is $218.64 and its 200 day simple moving average is $230.46. Fabrinet has a 1-year low of $159.69 and a 1-year high of $281.79.

Fabrinet (NYSE:FN - Get Free Report) last posted its earnings results on Monday, February 3rd. The technology company reported $2.38 earnings per share for the quarter, missing analysts' consensus estimates of $2.48 by ($0.10). Fabrinet had a return on equity of 18.48% and a net margin of 10.44%. As a group, equities analysts forecast that Fabrinet will post 9.4 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

FN has been the subject of several analyst reports. Barclays dropped their price objective on Fabrinet from $292.00 to $245.00 and set an "equal weight" rating for the company in a report on Tuesday, February 4th. Fox Advisors started coverage on Fabrinet in a research note on Tuesday, February 18th. They issued an "overweight" rating and a $270.00 price target for the company. JPMorgan Chase & Co. reduced their price objective on shares of Fabrinet from $275.00 to $265.00 and set a "neutral" rating on the stock in a research note on Tuesday, February 4th. Rosenblatt Securities reissued a "buy" rating and issued a $285.00 target price on shares of Fabrinet in a report on Friday, March 14th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $280.00 price target on shares of Fabrinet in a report on Monday, March 17th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $250.43.

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Hedge Funds Weigh In On Fabrinet

A number of institutional investors and hedge funds have recently bought and sold shares of FN. Norges Bank acquired a new position in shares of Fabrinet in the fourth quarter valued at approximately $95,084,000. Capital Research Global Investors increased its position in Fabrinet by 675.2% in the 4th quarter. Capital Research Global Investors now owns 417,020 shares of the technology company's stock valued at $91,694,000 after acquiring an additional 363,228 shares during the period. Wasatch Advisors LP raised its stake in shares of Fabrinet by 47.0% during the fourth quarter. Wasatch Advisors LP now owns 1,132,636 shares of the technology company's stock valued at $249,044,000 after acquiring an additional 362,064 shares during the last quarter. Wedge Capital Management L L P NC acquired a new position in shares of Fabrinet during the fourth quarter worth $63,222,000. Finally, FMR LLC grew its stake in shares of Fabrinet by 13.1% in the fourth quarter. FMR LLC now owns 2,213,887 shares of the technology company's stock worth $486,789,000 after purchasing an additional 257,164 shares during the last quarter. Institutional investors and hedge funds own 97.38% of the company's stock.

About Fabrinet

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.