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.

Fabrinet (NYSE:FN) last issued its quarterly earnings results on Monday, November 5th. The technology company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.24. The business had revenue of $377.00 million during the quarter, compared to analyst estimates of $352.28 million. Fabrinet had a net margin of 6.54% and a return on equity of 13.53%. The business’s revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.75 earnings per share. Sell-side analysts forecast that Fabrinet will post 3.12 earnings per share for the current fiscal year.

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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