Edward T. Archer Sells 8,690 Shares of Fabrinet (NYSE:FN) Stock

Fabrinet (NYSE:FN - Get Free Report) EVP Edward T. Archer sold 8,690 shares of the firm's stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $220.26, for a total transaction of $1,914,059.40. Following the completion of the sale, the executive vice president now owns 8,333 shares of the company's stock, valued at approximately $1,835,426.58. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Fabrinet Trading Down 0.2 %

Shares of FN stock traded down $0.35 during trading hours on Thursday, hitting $224.82. The company's stock had a trading volume of 406,846 shares, compared to its average volume of 445,690. The company has a 50 day moving average of $234.22 and a 200 day moving average of $217.71. The stock has a market cap of $8.13 billion, a PE ratio of 29.85 and a beta of 0.96. Fabrinet has a 12-month low of $146.65 and a 12-month high of $278.38.

Fabrinet (NYSE:FN - Get Free Report) last released its quarterly earnings data on Monday, August 19th. The technology company reported $2.41 EPS for the quarter, beating the consensus estimate of $2.06 by $0.35. The business had revenue of $753.26 million for the quarter, compared to the consensus estimate of $732.63 million. Fabrinet had a net margin of 10.27% and a return on equity of 18.10%. The business's revenue for the quarter was up 14.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.68 EPS. As a group, analysts anticipate that Fabrinet will post 9.11 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Fabrinet

Several large investors have recently made changes to their positions in FN. Opal Wealth Advisors LLC acquired a new position in Fabrinet during the second quarter worth $28,000. Banque Cantonale Vaudoise acquired a new position in Fabrinet during the second quarter worth $35,000. Parallel Advisors LLC grew its holdings in shares of Fabrinet by 59.7% during the fourth quarter. Parallel Advisors LLC now owns 206 shares of the technology company's stock worth $39,000 after buying an additional 77 shares in the last quarter. Kimelman & Baird LLC purchased a new stake in shares of Fabrinet during the second quarter worth $49,000. 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 buying an additional 109 shares in the last quarter. 97.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on FN. Jefferies Financial Group began coverage on shares of Fabrinet in a report on Wednesday, June 26th. They set a "hold" rating and a $230.00 price objective for the company. B. Riley boosted their price target on shares of Fabrinet from $171.00 to $196.00 and gave the company a "neutral" rating in a report on Tuesday, August 20th. Needham & Company LLC lifted their price objective on shares of Fabrinet from $270.00 to $280.00 and gave the stock a "buy" rating in a research report on Tuesday, August 20th. Rosenblatt Securities boosted their target price on shares of Fabrinet from $260.00 to $280.00 and gave the stock a "buy" rating in a research report on Tuesday, August 20th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Fabrinet from $240.00 to $285.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 20th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $219.00.

Fabrinet Company Profile

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.

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