Fabrinet (NYSE:FN) Director Thomas F. Kelly sold 30,000 shares of the firm’s stock in a transaction on Tuesday, August 29th. The shares were sold at an average price of $38.24, for a total transaction of $1,147,200.00. Following the sale, the director now owns 64,635 shares in the company, valued at approximately $2,471,642.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Shares of Fabrinet (FN) opened at 38.73 on Friday. Fabrinet has a one year low of $31.97 and a one year high of $49.63. The company has a market cap of $1.45 billion, a price-to-earnings ratio of 15.07 and a beta of 1.15. The firm has a 50-day moving average of $42.28 and a 200-day moving average of $40.50.

Fabrinet (NYSE:FN) last released its quarterly earnings results on Monday, August 21st. The technology company reported $0.72 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.83 by $0.11. The business had revenue of $370.50 million for the quarter, compared to analysts’ expectations of $363.41 million. Fabrinet had a net margin of 6.84% and a return on equity of 15.32%. Fabrinet’s revenue for the quarter was up 34.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.60 EPS. Equities research analysts forecast that Fabrinet will post $3.46 EPS for the current fiscal year.

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

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A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Princeton Alpha Management LP purchased a new position in Fabrinet during the first quarter worth $255,000. State Board of Administration of Florida Retirement System boosted its position in Fabrinet by 17.0% in the first quarter. State Board of Administration of Florida Retirement System now owns 16,537 shares of the technology company’s stock worth $695,000 after buying an additional 2,404 shares during the period. LSV Asset Management boosted its position in Fabrinet by 14.4% in the first quarter. LSV Asset Management now owns 98,600 shares of the technology company’s stock worth $4,144,000 after buying an additional 12,400 shares during the period. Eqis Capital Management Inc. boosted its position in Fabrinet by 5.4% in the first quarter. Eqis Capital Management Inc. now owns 33,432 shares of the technology company’s stock worth $1,405,000 after buying an additional 1,719 shares during the period. Finally, Hussman Strategic Advisors Inc. purchased a new position in Fabrinet during the first quarter worth $3,152,000. Institutional investors and hedge funds own 94.02% of the company’s stock.

Several analysts have recently weighed in on FN shares. ValuEngine cut shares of Fabrinet from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. B. Riley restated a “buy” rating and set a $46.50 price objective on shares of Fabrinet in a research report on Monday. Needham & Company LLC restated a “strong-buy” rating and set a $56.00 price objective on shares of Fabrinet in a research report on Tuesday, May 9th. BidaskClub upgraded shares of Fabrinet from a “sell” rating to a “hold” rating in a research report on Sunday, July 16th. Finally, Piper Jaffray Companies restated an “overweight” rating and set a $51.00 price objective (down previously from $55.00) on shares of Fabrinet in a research report on Tuesday, August 22nd. Two analysts have rated the stock with a sell rating, one has assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Fabrinet presently has an average rating of “Buy” and a consensus price target of $50.93.

Fabrinet Company Profile

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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