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

Fabrinet (NYSE:FN) EVP Edward T. Archer sold 8,690 shares of Fabrinet 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 directly owns 8,333 shares of the company’s stock, valued at $1,835,426.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Fabrinet Trading Down 0.2 %

Shares of NYSE:FN opened at $224.82 on Friday. The firm has a market cap of $8.13 billion, a PE ratio of 29.86 and a beta of 0.96. The company has a fifty day simple moving average of $233.78 and a 200 day simple moving average of $217.76. Fabrinet has a 12-month low of $146.65 and a 12-month high of $278.38.

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

Analyst Ratings Changes

FN has been the topic of a number of analyst reports. B. Riley raised their price objective 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 raised their price target on Fabrinet from $270.00 to $280.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. Rosenblatt Securities increased their target price on shares of Fabrinet from $260.00 to $280.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. JPMorgan Chase & Co. increased their price target on Fabrinet from $240.00 to $285.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Finally, Jefferies Financial Group initiated coverage on shares of Fabrinet in a research report on Wednesday, June 26th. They set a “hold” rating and a $230.00 target price on the stock. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $219.00.

Institutional Investors Weigh In On Fabrinet

A number of institutional investors and hedge funds have recently modified their holdings of the stock. First Eagle Investment Management LLC grew its position in Fabrinet by 0.8% during the fourth quarter. First Eagle Investment Management LLC now owns 7,508 shares of the technology company’s stock valued at $1,429,000 after purchasing an additional 60 shares in the last quarter. Parallel Advisors LLC grew its holdings in shares of Fabrinet by 59.7% during the 4th quarter. Parallel Advisors LLC now owns 206 shares of the technology company’s stock valued at $39,000 after acquiring an additional 77 shares in the last quarter. Xponance Inc. increased its stake in shares of Fabrinet by 3.5% in the second quarter. Xponance Inc. now owns 2,308 shares of the technology company’s stock worth $565,000 after acquiring an additional 78 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its position in Fabrinet by 1.6% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 6,117 shares of the technology company’s stock worth $1,164,000 after purchasing an additional 96 shares during the last quarter. Finally, New York State Teachers Retirement System raised its stake in shares of Fabrinet by 0.3% during the 1st quarter. New York State Teachers Retirement System now owns 29,950 shares of the technology company’s stock worth $5,661,000 after purchasing an additional 100 shares in 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.