Fabrinet (NYSE:FN)’s share price reached a new 52-week high on Friday . The stock traded as high as $62.11 and last traded at $61.36, with a volume of 5545 shares changing hands. The stock had previously closed at $60.43.
Several equities analysts recently weighed in on the stock. ValuEngine cut shares of Fabrinet from a “buy” rating to a “hold” rating in a research note on Monday, April 1st. Zacks Investment Research cut shares of Fabrinet from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 9th. Finally, Piper Jaffray Companies raised their target price on shares of Fabrinet from $56.00 to $61.00 and gave the company an “overweight” rating in a research note on Thursday, January 24th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $54.17.
The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.26 and a current ratio of 3.19. The company has a market cap of $2.29 billion, a price-to-earnings ratio of 20.53, a price-to-earnings-growth ratio of 1.48 and a beta of 0.63.
In related news, Director David T. Mitchell sold 30,000 shares of the firm’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $60.02, for a total value of $1,800,600.00. Following the completion of the transaction, the director now directly owns 73,748 shares of the company’s stock, valued at $4,426,354.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Thomas F. Kelly sold 3,000 shares of the firm’s stock in a transaction on Thursday, February 14th. The shares were sold at an average price of $54.79, for a total transaction of $164,370.00. Following the completion of the transaction, the director now directly owns 41,323 shares of the company’s stock, valued at $2,264,087.17. The disclosure for this sale can be found here. Insiders sold 162,518 shares of company stock valued at $9,080,754 over the last three months. 1.90% of the stock is owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp raised its position in shares of Fabrinet by 7.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,169,366 shares of the technology company’s stock valued at $54,095,000 after buying an additional 77,284 shares during the period. JPMorgan Chase & Co. raised its position in Fabrinet by 156.0% in the third quarter. JPMorgan Chase & Co. now owns 563,241 shares of the technology company’s stock valued at $26,056,000 after purchasing an additional 343,213 shares during the period. Jane Street Group LLC purchased a new stake in Fabrinet in the third quarter valued at approximately $282,000. Legal & General Group Plc raised its position in Fabrinet by 5.9% in the third quarter. Legal & General Group Plc now owns 84,071 shares of the technology company’s stock valued at $3,890,000 after purchasing an additional 4,677 shares during the period. Finally, Vanguard Group Inc. raised its position in Fabrinet by 1.6% in the third quarter. Vanguard Group Inc. now owns 2,183,069 shares of the technology company’s stock valued at $100,988,000 after purchasing an additional 33,413 shares during the period. 96.87% of the stock is owned by hedge funds and other institutional investors.
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.
Read More: Municipal Bonds
Receive News & Ratings for Fabrinet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fabrinet and related companies with MarketBeat.com's FREE daily email newsletter.