Short Interest in Fabrinet (NYSE:FN) Expands By 14.8%

Fabrinet (NYSE:FN) saw a large increase in short interest during the month of April. As of April 15th, there was short interest totalling 1,550,000 shares, an increase of 14.8% from the March 31st total of 1,350,000 shares. Currently, 4.3% of the company’s stock are short sold. Based on an average daily volume of 492,900 shares, the short-interest ratio is presently 3.1 days.

Fabrinet Stock Up 0.3 %

NYSE:FN traded up $0.55 during trading hours on Monday, reaching $176.00. The company had a trading volume of 394,067 shares, compared to its average volume of 445,764. The stock has a 50-day moving average of $191.71 and a two-hundred day moving average of $185.21. Fabrinet has a one year low of $90.19 and a one year high of $229.02. The firm has a market capitalization of $6.39 billion, a PE ratio of 25.43 and a beta of 1.04.

Fabrinet (NYSE:FN) last issued its quarterly earnings data on Monday, February 5th. The technology company reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.84 by $0.05. Fabrinet had a net margin of 9.35% and a return on equity of 17.27%. The firm had revenue of $712.69 million for the quarter, compared to analysts’ expectations of $699.76 million. As a group, sell-side analysts expect that Fabrinet will post 7.59 earnings per share for the current year.

Insider Transactions at Fabrinet

In other Fabrinet news, Director Rollance E. Olson sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $205.52, for a total value of $2,055,200.00. Following the completion of the sale, the director now directly owns 25,981 shares of the company’s stock, valued at $5,339,615.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.51% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Park Place Capital Corp acquired a new stake in shares of Fabrinet in the fourth quarter valued at approximately $26,000. Salem Investment Counselors Inc. acquired a new stake in shares of Fabrinet in the 4th quarter valued at $29,000. GAMMA Investing LLC bought a new stake in shares of Fabrinet during the fourth quarter worth $34,000. Parallel Advisors LLC lifted its stake in shares of Fabrinet by 59.7% during the fourth quarter. Parallel Advisors LLC now owns 206 shares of the technology company’s stock valued at $39,000 after acquiring an additional 77 shares during the period. Finally, Orion Capital Management LLC bought a new position in Fabrinet in the third quarter valued at about $47,000. Institutional investors and hedge funds own 97.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on FN shares. Rosenblatt Securities reaffirmed a “buy” rating and set a $230.00 target price on shares of Fabrinet in a research report on Tuesday, February 6th. Needham & Company LLC lowered their price target on Fabrinet from $230.00 to $220.00 and set a “buy” rating on the stock in a research note on Friday, March 22nd. JPMorgan Chase & Co. upped their price target on Fabrinet from $210.00 to $212.00 and gave the company a “neutral” rating in a report on Thursday, April 11th. Finally, Northland Securities raised Fabrinet from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $200.00 to $220.00 in a report on Thursday, March 21st. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Fabrinet has an average rating of “Moderate Buy” and a consensus price target of $159.57.

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.