Fabrinet (NYSE:FN – Get Free Report) EVP Edward Archer sold 2,500 shares of Fabrinet stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $385.91, for a total value of $964,775.00. Following the transaction, the executive vice president directly owned 7,007 shares in the company, valued at approximately $2,704,071.37. The trade was a 26.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
Fabrinet Stock Performance
Shares of Fabrinet stock opened at $406.51 on Friday. The company has a market capitalization of $14.57 billion, a P/E ratio of 31.15 and a beta of 1.21. The company has a fifty day moving average of $482.19 and a 200 day moving average of $563.75. Fabrinet has a fifty-two week low of $348.01 and a fifty-two week high of $748.89.
Fabrinet (NYSE:FN – Get Free Report) last issued its earnings results on Tuesday, August 18th. The technology company reported $4.10 earnings per share for the quarter, topping analysts’ consensus estimates of $3.81 by $0.29. The firm had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.28 billion. Fabrinet had a net margin of 10.19% and a return on equity of 21.23%. Fabrinet’s revenue for the quarter was up 44.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.65 earnings per share. Analysts forecast that Fabrinet will post 17.5 EPS for the current year.
Institutional Inflows and Outflows
Wall Street Analysts Forecast Growth
A number of research firms recently commented on FN. Fox Advisors upgraded Fabrinet from an “equal weight” rating to an “overweight” rating in a research report on Wednesday, August 19th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $750.00 price objective on shares of Fabrinet in a research note on Tuesday, August 18th. Wall Street Zen cut Fabrinet from a “buy” rating to a “hold” rating in a report on Monday, July 20th. JPMorgan Chase & Co. increased their target price on Fabrinet from $680.00 to $695.00 and gave the company a “neutral” rating in a research report on Tuesday, August 18th. Finally, Needham & Company LLC restated a “buy” rating and issued a $650.00 price target on shares of Fabrinet in a research report on Tuesday, August 18th. Seven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Fabrinet currently has an average rating of “Moderate Buy” and a consensus target price of $649.50.
Get Our Latest Report on Fabrinet
About Fabrinet
Fabrinet is a global provider of advanced optical packaging and precision optical, electro‐mechanical and electronic manufacturing services (CEM). The company specializes in complex manufacturing processes for original equipment manufacturers (OEMs) in communications, data center, industrial, instrumentation and medical markets. Key capabilities include high‐precision fiber alignment, micro‐assembly, testing and diagnostics, and integration of electro‐optic subassemblies.
Incorporated in 2000, Fabrinet operates under a corporate structure headquartered in Singapore with additional regional offices and design centers in the Americas, Europe and Asia.
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