Fabrinet (NYSE:FN) COO Harpal Gill sold 50,000 shares of Fabrinet stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $39.07, for a total transaction of $1,953,500.00. Following the completion of the sale, the chief operating officer now owns 194,193 shares of the company’s stock, valued at $7,587,120.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Shares of Fabrinet (NYSE:FN) traded down 0.64% during mid-day trading on Thursday, reaching $38.85. 164,684 shares of the company traded hands. The firm has a 50-day moving average price of $43.04 and a 200 day moving average price of $40.69. Fabrinet has a 52 week low of $31.97 and a 52 week high of $49.63. The firm has a market capitalization of $1.45 billion, a price-to-earnings ratio of 15.12 and a beta of 1.08.

Fabrinet (NYSE:FN) last announced its earnings results on Monday, August 21st. The technology company reported $0.72 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.83 by $0.11. Fabrinet had a net margin of 6.84% and a return on equity of 15.32%. The business had revenue of $370.50 million for the quarter, compared to analysts’ expectations of $363.41 million. During the same quarter last year, the business earned $0.60 EPS. The company’s quarterly revenue was up 34.0% on a year-over-year basis. On average, analysts anticipate that Fabrinet will post $3.46 earnings per share for the current year.

Fabrinet declared that its Board of Directors has initiated a share repurchase plan on Monday, August 21st that allows the company to buyback $30.00 million in outstanding shares. This buyback authorization allows the technology company to buy up to 21% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

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Several hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. raised its position in shares of Fabrinet by 0.4% in the second quarter. BlackRock Inc. now owns 4,328,966 shares of the technology company’s stock worth $184,673,000 after buying an additional 17,385 shares during the period. FMR LLC raised its position in shares of Fabrinet by 31.8% in the second quarter. FMR LLC now owns 2,772,212 shares of the technology company’s stock worth $118,262,000 after buying an additional 669,201 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Fabrinet by 0.3% in the second quarter. Dimensional Fund Advisors LP now owns 2,027,764 shares of the technology company’s stock worth $86,506,000 after buying an additional 5,583 shares during the period. Vanguard Group Inc. raised its position in shares of Fabrinet by 4.8% in the second quarter. Vanguard Group Inc. now owns 1,984,041 shares of the technology company’s stock worth $84,640,000 after buying an additional 90,477 shares during the period. Finally, Congress Asset Management Co. MA raised its position in shares of Fabrinet by 23.6% in the second quarter. Congress Asset Management Co. MA now owns 1,727,179 shares of the technology company’s stock worth $73,681,000 after buying an additional 330,178 shares during the period. Hedge funds and other institutional investors own 94.02% of the company’s stock.

A number of analysts have recently commented on the stock. B. Riley reiterated a “buy” rating and issued a $44.75 price target on shares of Fabrinet in a research note on Tuesday, May 9th. BidaskClub upgraded shares of Fabrinet from a “sell” rating to a “hold” rating in a research note on Sunday, July 16th. ValuEngine upgraded shares of Fabrinet from a “hold” rating to a “buy” rating in a research note on Wednesday, August 2nd. J P Morgan Chase & Co set a $57.00 price target on shares of Fabrinet and gave the stock a “buy” rating in a research note on Thursday, June 1st. Finally, Stifel Nicolaus reiterated a “buy” rating on shares of Fabrinet in a research note on Tuesday, August 22nd. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Fabrinet presently has a consensus rating of “Buy” and an average target price of $50.93.

About Fabrinet

Fabrinet provides optical packaging and precision optical, electro-mechanical and electronic manufacturing services to original equipment manufacturers (OEMs) of products, such as optical communication components, modules and sub-systems, industrial lasers, medical devices and sensors. The Company offers a range of optical and electro-mechanical capabilities across the manufacturing process, including process design and engineering, supply chain management, manufacturing, complex printed circuit board assembly, advanced packaging, integration, final assembly and test.

Insider Buying and Selling by Quarter for Fabrinet (NYSE:FN)

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