Insider Selling: Fabrinet (FN) Insider Sells 8,600 Shares of Stock
Fabrinet (NYSE:FN) insider David T. Mitchell sold 8,600 shares of the company’s stock in a transaction on Monday, January 8th. The shares were sold at an average price of $30.02, for a total value of $258,172.00. Following the completion of the transaction, the insider now directly owns 111,057 shares in the company, valued at $3,333,931.14. The sale was disclosed in a filing with the SEC, which is available through this link.
Shares of Fabrinet (NYSE:FN) opened at $29.16 on Thursday. The firm has a market capitalization of $1,100.00, a price-to-earnings ratio of 11.62, a PEG ratio of 1.11 and a beta of 1.00. The company has a current ratio of 2.70, a quick ratio of 1.85 and a debt-to-equity ratio of 0.03. Fabrinet has a 1 year low of $28.35 and a 1 year high of $49.63.
A number of research analysts have commented on FN shares. Needham & Company LLC reaffirmed a “buy” rating on shares of Fabrinet in a report on Thursday, October 12th. Piper Jaffray Companies reaffirmed a “buy” rating on shares of Fabrinet in a report on Friday, November 10th. Zacks Investment Research lowered Fabrinet from a “hold” rating to a “sell” rating in a report on Friday, November 10th. JPMorgan Chase & Co. lowered Fabrinet from an “overweight” rating to a “neutral” rating and set a $42.00 price objective on the stock. in a report on Tuesday, November 7th. Finally, B. Riley decreased their price objective on Fabrinet from $46.50 to $42.50 and set a “buy” rating on the stock in a report on Friday, November 3rd. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Fabrinet currently has an average rating of “Hold” and a consensus price target of $46.42.
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.
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