Fabrinet (NYSE:FN) insider David T. Mitchell sold 50,000 shares of Fabrinet stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $30.03, for a total value of $1,501,500.00. Following the transaction, the insider now owns 111,057 shares of the company’s stock, valued at $3,335,041.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Shares of Fabrinet (NYSE:FN) traded up $0.28 on Friday, reaching $31.11. The company’s stock had a trading volume of 405,360 shares, compared to its average volume of 685,345. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.80 and a current ratio of 2.70. Fabrinet has a one year low of $28.60 and a one year high of $49.63. The firm has a market capitalization of $1,170.00, a price-to-earnings ratio of 12.21, a P/E/G ratio of 0.92 and a beta of 1.03.

Fabrinet (NYSE:FN) last issued its quarterly earnings data on Monday, August 21st. The technology company reported $0.72 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.11). Fabrinet had a net margin of 6.60% and a return on equity of 14.35%. The business had revenue of $370.50 million during the quarter, compared to analyst estimates of $363.41 million. During the same period in the previous year, the business posted $0.60 earnings per share. The firm’s revenue for the quarter was up 34.0% on a year-over-year basis. analysts anticipate that Fabrinet will post 2.78 earnings per share for the current fiscal year.

Fabrinet announced that its Board of Directors has approved a stock repurchase plan on Monday, August 21st that allows the company to repurchase $30.00 million in outstanding shares. This repurchase authorization allows the technology company to repurchase up to 21% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

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Several research analysts recently weighed in on the company. B. Riley reiterated a “buy” rating and set a $46.50 price target on shares of Fabrinet in a research report on Wednesday, August 23rd. Needham & Company LLC reduced their price target on Fabrinet from $60.00 to $45.00 and set a “strong-buy” rating for the company in a research report on Tuesday. ValuEngine cut Fabrinet from a “buy” rating to a “hold” rating in a research report on Monday, August 14th. J P Morgan Chase & Co cut Fabrinet from an “overweight” rating to a “neutral” rating and set a $42.00 price target for the company. in a research report on Tuesday. Finally, Northland Securities set a $50.00 price target on Fabrinet and gave the company a “buy” rating in a research report on Tuesday, August 22nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $46.42.

A number of institutional investors and hedge funds have recently modified their holdings of FN. BlackRock Inc. grew its holdings in Fabrinet by 60,498.5% in the first quarter. BlackRock Inc. now owns 4,311,581 shares of the technology company’s stock valued at $181,218,000 after purchasing an additional 4,304,466 shares during the period. BT Investment Management Ltd acquired a new stake in shares of Fabrinet in the second quarter worth approximately $38,212,000. FMR LLC boosted its stake 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 acquiring an additional 669,201 shares during the last quarter. Legion Partners Asset Management LLC acquired a new stake in shares of Fabrinet in the second quarter worth approximately $21,365,000. Finally, Royce & Associates LP boosted its stake in shares of Fabrinet by 39.9% in the second quarter. Royce & Associates LP now owns 1,396,450 shares of the technology company’s stock worth $59,573,000 after acquiring an additional 398,535 shares during the last quarter. 94.59% of the stock is currently owned by institutional investors.

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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