Fabrinet (NYSE:FN) Director Frank H. Levinson acquired 10,000 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were bought at an average price of $28.33 per share, with a total value of $283,300.00. Following the completion of the purchase, the director now directly owns 72,361 shares of the company’s stock, valued at $2,049,987.13. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Shares of Fabrinet (NYSE:FN) traded up $0.99 during trading hours on Friday, hitting $28.64. The stock had a trading volume of 451,088 shares, compared to its average volume of 863,813. Fabrinet has a 52 week low of $24.02 and a 52 week high of $47.02. The firm has a market capitalization of $1,080.00, a price-to-earnings ratio of 12.19, a PEG ratio of 1.09 and a beta of 0.75. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.99 and a current ratio of 2.84.
Fabrinet (NYSE:FN) last announced its earnings results on Monday, February 5th. The technology company reported $0.72 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.02. Fabrinet had a return on equity of 12.96% and a net margin of 6.24%. The company had revenue of $337.10 million during the quarter, compared to analyst estimates of $329.41 million. During the same period last year, the company posted $0.91 earnings per share. The firm’s quarterly revenue was down 4.0% compared to the same quarter last year. analysts predict that Fabrinet will post 2.12 EPS for the current fiscal year.
Fabrinet announced that its Board of Directors has authorized a share buyback plan on Monday, February 5th that allows the company to repurchase $30.00 million in shares. This repurchase authorization allows the technology company to purchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its stock is undervalued.
Several large investors have recently made changes to their positions in FN. New York State Common Retirement Fund increased its stake in shares of Fabrinet by 15.4% in the second quarter. New York State Common Retirement Fund now owns 43,610 shares of the technology company’s stock valued at $1,860,000 after buying an additional 5,809 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Fabrinet by 4.8% in the second quarter. Vanguard Group Inc. now owns 1,984,041 shares of the technology company’s stock valued at $84,640,000 after buying an additional 90,477 shares in the last quarter. Parametric Portfolio Associates LLC increased its stake in shares of Fabrinet by 32.1% in the second quarter. Parametric Portfolio Associates LLC now owns 55,576 shares of the technology company’s stock valued at $2,371,000 after buying an additional 13,495 shares in the last quarter. Voya Investment Management LLC increased its stake in shares of Fabrinet by 7.6% in the second quarter. Voya Investment Management LLC now owns 16,572 shares of the technology company’s stock valued at $707,000 after buying an additional 1,169 shares in the last quarter. Finally, State Street Corp increased its stake in shares of Fabrinet by 5.8% in the second quarter. State Street Corp now owns 859,659 shares of the technology company’s stock valued at $36,676,000 after buying an additional 47,397 shares in the last quarter. Institutional investors own 95.57% of the company’s stock.
Several research analysts have issued reports on the company. ValuEngine upgraded Fabrinet from a “hold” rating to a “buy” rating in a research note on Thursday, February 8th. Needham & Company LLC reiterated a “strong-buy” rating and set a $40.00 price objective (down from $45.00) on shares of Fabrinet in a research note on Tuesday, February 6th. Northland Securities set a $37.00 price objective on Fabrinet and gave the stock a “buy” rating in a research note on Monday, January 29th. Stifel Nicolaus dropped their price objective on Fabrinet from $40.00 to $35.00 and set a “buy” rating for the company in a research note on Wednesday, January 24th. Finally, Piper Jaffray Companies reiterated a “buy” rating on shares of Fabrinet in a research note on Friday, November 10th. Two analysts have rated the stock with a sell rating, one has issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $41.25.
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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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