Fabrinet (NYSE:FN) Shares Gap Down - Time to Sell?

Fabrinet (NYSE:FN - Get Free Report) gapped down prior to trading on Friday . The stock had previously closed at $266.87, but opened at $254.04. Fabrinet shares last traded at $252.48, with a volume of 249,794 shares changing hands.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on FN shares. B. Riley boosted their price target on Fabrinet from $171.00 to $196.00 and gave the company a "neutral" rating in a research note on Tuesday, August 20th. Needham & Company LLC boosted their target price on Fabrinet from $270.00 to $280.00 and gave the stock a "buy" rating in a report on Tuesday, August 20th. Jefferies Financial Group started coverage on Fabrinet in a report on Wednesday, June 26th. They issued a "hold" rating and a $230.00 target price for the company. JPMorgan Chase & Co. boosted their target price on Fabrinet from $240.00 to $285.00 and gave the stock a "neutral" rating in a report on Tuesday, August 20th. Finally, Rosenblatt Securities boosted their target price on Fabrinet from $260.00 to $280.00 and gave the stock a "buy" rating in a report on Tuesday, August 20th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $219.00.

Fabrinet Price Performance

The company has a market capitalization of $8.79 billion, a price-to-earnings ratio of 32.28 and a beta of 0.95. The business has a fifty day moving average price of $237.83 and a 200 day moving average price of $225.42.

Fabrinet (NYSE:FN - Get Free Report) last issued its quarterly earnings results on Monday, August 19th. The technology company reported $2.41 EPS for the quarter, topping analysts' consensus estimates of $2.06 by $0.35. Fabrinet had a return on equity of 18.10% and a net margin of 10.27%. The company had revenue of $753.26 million during the quarter, compared to analyst estimates of $732.63 million. During the same period in the previous year, the company earned $1.68 earnings per share. The company's quarterly revenue was up 14.8% compared to the same quarter last year. As a group, sell-side analysts predict that Fabrinet will post 9.11 earnings per share for the current fiscal year.

Insider Activity at Fabrinet

In related news, EVP Edward T. Archer sold 8,690 shares of the company's stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $220.26, for a total value of $1,914,059.40. Following the completion of the transaction, the executive vice president now directly owns 8,333 shares in the company, valued at approximately $1,835,426.58. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Fabrinet news, CEO Seamus Grady sold 26,650 shares of the company's stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $270.00, for a total value of $7,195,500.00. Following the sale, the chief executive officer now directly owns 37,643 shares in the company, valued at $10,163,610. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Edward T. Archer sold 8,690 shares of the company's stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $220.26, for a total value of $1,914,059.40. Following the completion of the sale, the executive vice president now owns 8,333 shares in the company, valued at $1,835,426.58. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 44,728 shares of company stock worth $11,645,062. 0.51% of the stock is owned by corporate insiders.

Institutional Trading of Fabrinet

Large investors have recently bought and sold shares of the stock. Opal Wealth Advisors LLC bought a new stake in Fabrinet in the second quarter valued at $28,000. Banque Cantonale Vaudoise bought a new stake in Fabrinet in the second quarter valued at $35,000. Kimelman & Baird LLC bought a new stake in Fabrinet in the second quarter valued at $49,000. NBC Securities Inc. grew its holdings in shares of Fabrinet by 732.0% during the third quarter. NBC Securities Inc. now owns 208 shares of the technology company's stock worth $49,000 after purchasing an additional 183 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of Fabrinet by 60.6% during the first quarter. GAMMA Investing LLC now owns 289 shares of the technology company's stock worth $55,000 after purchasing an additional 109 shares during the last quarter. 97.38% of the stock is currently owned by institutional investors.

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.