Rollance E. Olson Sells 2,500 Shares of Fabrinet (NYSE:FN) Stock

Fabrinet (NYSE:FN) Director Rollance E. Olson sold 2,500 shares of the company’s stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $223.98, for a total transaction of $559,950.00. Following the completion of the sale, the director now directly owns 23,201 shares in the company, valued at approximately $5,196,559.98. The trade was a 9.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

Fabrinet Stock Performance

FN stock opened at $226.40 on Thursday. The company has a market capitalization of $8.11 billion, a P/E ratio of 25.32 and a beta of 0.95. Fabrinet has a 52-week low of $148.55 and a 52-week high of $281.79. The company has a fifty day moving average price of $201.65 and a 200-day moving average price of $219.61.

Fabrinet (NYSE:FN) last released its earnings results on Monday, May 5th. The technology company reported $2.52 earnings per share for the quarter, beating analysts’ consensus estimates of $2.47 by $0.05. Fabrinet had a net margin of 10.44% and a return on equity of 18.48%. The business had revenue of $871.80 million during the quarter, compared to the consensus estimate of $857.12 million. During the same quarter in the prior year, the firm posted $2.39 EPS. The company’s revenue for the quarter was up 19.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Fabrinet will post 9.4 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Fabrinet

Several institutional investors and hedge funds have recently made changes to their positions in the business. Private Trust Co. NA lifted its position in shares of Fabrinet by 44.3% during the 1st quarter. Private Trust Co. NA now owns 166 shares of the technology company’s stock valued at $33,000 after acquiring an additional 51 shares during the period. Assetmark Inc. lifted its position in shares of Fabrinet by 12.0% during the 4th quarter. Assetmark Inc. now owns 484 shares of the technology company’s stock worth $106,000 after buying an additional 52 shares in the last quarter. CreativeOne Wealth LLC boosted its position in Fabrinet by 4.9% in the first quarter. CreativeOne Wealth LLC now owns 1,148 shares of the technology company’s stock worth $227,000 after purchasing an additional 54 shares during the last quarter. CIBC Asset Management Inc boosted its holdings in shares of Fabrinet by 5.7% in the 4th quarter. CIBC Asset Management Inc now owns 1,113 shares of the technology company’s stock worth $245,000 after buying an additional 60 shares during the last quarter. Finally, Nations Financial Group Inc. IA ADV boosted its stake in Fabrinet by 2.4% in the fourth quarter. Nations Financial Group Inc. IA ADV now owns 2,941 shares of the technology company’s stock valued at $647,000 after acquiring an additional 68 shares during the last quarter. Institutional investors own 97.38% of the company’s stock.

Analyst Upgrades and Downgrades

FN has been the subject of several research reports. Needham & Company LLC reaffirmed a “buy” rating and set a $280.00 price target on shares of Fabrinet in a report on Tuesday, May 6th. Fox Advisors began coverage on shares of Fabrinet in a research report on Tuesday, February 18th. They issued an “overweight” rating and a $270.00 price target for the company. Barclays set a $234.00 price objective on shares of Fabrinet and gave the stock an “equal weight” rating in a research report on Tuesday, May 6th. B. Riley raised Fabrinet from a “sell” rating to a “neutral” rating and reduced their target price for the company from $178.00 to $176.00 in a report on Friday, April 4th. Finally, JPMorgan Chase & Co. raised their price target on shares of Fabrinet from $220.00 to $235.00 and gave the company a “neutral” rating in a research note on Tuesday, May 6th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $239.29.

Fabrinet Company Profile

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.