Fabrinet Target of Unusually Large Options Trading (FN)
Fabrinet (NYSE:FN) was the target of unusually large options trading on Tuesday. Stock investors acquired 370 call options on the stock. This represents an increase of 640% compared to the typical daily volume of 50 call options.
Several brokerages have recently weighed in on FN. Needham & Company LLC restated a “buy” rating and set a $60.00 target price on shares of Fabrinet in a report on Tuesday, September 5th. Zacks Investment Research upgraded Fabrinet from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 24th. B. Riley lowered their target price on Fabrinet from $46.50 to $42.50 and set a “buy” rating on the stock in a report on Friday, November 3rd. JPMorgan Chase & Co. cut Fabrinet from an “overweight” rating to a “neutral” rating and set a $42.00 target price on the stock. in a report on Tuesday, November 7th. Finally, Piper Jaffray Companies restated a “buy” rating on shares of Fabrinet in a report on Friday, November 10th. Two 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 assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $46.42.
In other news, insider David T. Mitchell sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $30.03, for a total transaction of $1,501,500.00. Following the transaction, the insider now directly owns 111,057 shares in the company, valued at approximately $3,335,041.71. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 3.30% of the company’s stock.
Fabrinet (FN) opened at $28.86 on Friday. Fabrinet has a twelve month low of $28.35 and a twelve month high of $49.63. The company has a market capitalization of $1,080.00, a P/E ratio of 11.50, a P/E/G ratio of 1.10 and a beta of 0.99. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.70 and a quick ratio of 1.85.
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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.
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