Fabrinet (FN) Hits New 12-Month High at $56.22
Fabrinet (NYSE:FN) shares reached a new 52-week high during trading on Thursday . The company traded as high as $56.22 and last traded at $56.56, with a volume of 10048 shares traded. The stock had previously closed at $54.26.
FN has been the topic of a number of recent research reports. Stifel Nicolaus initiated coverage on shares of Fabrinet in a research report on Monday, October 22nd. They set a “buy” rating and a $53.00 target price on the stock. Piper Jaffray Companies raised shares of Fabrinet to an “overweight” rating and set a $56.00 target price on the stock in a research report on Tuesday, November 6th. Needham & Company LLC restated a “buy” rating and issued a $62.00 price target (up previously from $58.00) on shares of Fabrinet in a research note on Tuesday, December 18th. Finally, Zacks Investment Research upgraded shares of Fabrinet from a “hold” rating to a “buy” rating and set a $63.00 price target for the company in a research note on Friday. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $53.17.
The company has a current ratio of 3.00, a quick ratio of 2.09 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $2.00 billion, a PE ratio of 19.13, a price-to-earnings-growth ratio of 1.34 and a beta of 0.63.
In other Fabrinet news, COO Harpal Gill sold 33,479 shares of the business’s stock in a transaction on Wednesday, November 28th. The shares were sold at an average price of $52.00, for a total transaction of $1,740,908.00. Following the completion of the sale, the chief operating officer now owns 51,860 shares in the company, valued at $2,696,720. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Toh-Seng Ng sold 30,000 shares of the business’s stock in a transaction on Thursday, November 29th. The shares were sold at an average price of $52.70, for a total transaction of $1,581,000.00. Following the sale, the chief financial officer now owns 117,340 shares of the company’s stock, valued at approximately $6,183,818. The disclosure for this sale can be found here. In the last 90 days, insiders sold 69,560 shares of company stock valued at $3,635,323. Insiders own 1.90% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the business. Seven Eight Capital LP acquired a new position in shares of Fabrinet during the third quarter valued at $546,000. Engineers Gate Manager LP acquired a new position in shares of Fabrinet during the third quarter valued at $2,232,000. Seizert Capital Partners LLC acquired a new position in shares of Fabrinet during the third quarter valued at $1,508,000. Jefferies Group LLC acquired a new position in shares of Fabrinet during the third quarter valued at $232,000. Finally, Carillon Tower Advisers Inc. boosted its holdings in shares of Fabrinet by 2.0% during the third quarter. Carillon Tower Advisers Inc. now owns 77,373 shares of the technology company’s stock valued at $3,579,000 after acquiring an additional 1,547 shares during the period. Hedge funds and other institutional investors own 93.47% of the company’s stock.
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Fabrinet Company Profile (NYSE:FN)
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 optical and electro-mechanical capabilities in the manufacturing process, including process design and engineering, supply chain management, manufacturing, printed circuit board assembly, packaging, integration, final assembly, and test.
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