Fabrinet (NYSE:FN) COO Sells $4,482,000.00 in Stock

Fabrinet (NYSE:FN - Get Free Report) COO Harpal Gill sold 18,675 shares of the stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $240.00, for a total value of $4,482,000.00. Following the completion of the transaction, the chief operating officer now owns 18,068 shares of the company's stock, valued at $4,336,320. This trade represents a 50.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Fabrinet Stock Down 1.0%

Shares of Fabrinet stock traded down $2.40 on Friday, hitting $234.82. 654,109 shares of the company traded hands, compared to its average volume of 632,005. The company has a 50-day moving average price of $207.69 and a 200 day moving average price of $217.73. Fabrinet has a 12-month low of $148.55 and a 12-month high of $281.79. The company has a market cap of $8.41 billion, a PE ratio of 26.27 and a beta of 0.98.

Fabrinet (NYSE:FN - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The technology company reported $2.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.47 by $0.05. Fabrinet had a return on equity of 18.48% and a net margin of 10.44%. The business had revenue of $871.80 million during the quarter, compared to analyst estimates of $857.12 million. During the same period in the previous year, the company earned $2.39 EPS. The firm's revenue was up 19.2% on a year-over-year basis. Equities research analysts anticipate that Fabrinet will post 9.4 EPS for the current year.

Analysts Set New Price Targets

FN has been the topic of a number of recent analyst reports. Fox Advisors initiated coverage on shares of Fabrinet in a report on Tuesday, February 18th. They set an "overweight" rating and a $270.00 price target on the stock. B. Riley raised shares of Fabrinet from a "sell" rating to a "neutral" rating and cut their target price for the company from $178.00 to $176.00 in a research note on Friday, April 4th. Needham & Company LLC restated a "buy" rating and issued a $280.00 target price on shares of Fabrinet in a report on Tuesday, May 6th. Rosenblatt Securities lifted their price target on Fabrinet from $230.00 to $250.00 and gave the company a "buy" rating in a report on Tuesday, May 6th. Finally, Barclays set a $234.00 price target on Fabrinet and gave the company an "equal weight" rating in a research report on Tuesday, May 6th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Fabrinet currently has an average rating of "Hold" and a consensus price target of $239.29.

Hedge Funds Weigh In On Fabrinet

Institutional investors have recently bought and sold shares of the stock. Private Trust Co. NA increased its holdings 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 last quarter. Assetmark Inc. lifted its stake in shares of Fabrinet by 12.0% in the fourth quarter. Assetmark Inc. now owns 484 shares of the technology company's stock worth $106,000 after buying an additional 52 shares during the last quarter. CreativeOne Wealth LLC boosted its holdings in shares of Fabrinet by 4.9% during the 1st quarter. CreativeOne Wealth LLC now owns 1,148 shares of the technology company's stock worth $227,000 after buying an additional 54 shares during the period. CIBC Asset Management Inc grew its stake in Fabrinet by 5.7% in the 4th quarter. CIBC Asset Management Inc now owns 1,113 shares of the technology company's stock valued at $245,000 after buying an additional 60 shares during the last quarter. Finally, Nations Financial Group Inc. IA ADV grew its stake in Fabrinet by 2.4% in the 4th quarter. Nations Financial Group Inc. IA ADV now owns 2,941 shares of the technology company's stock valued at $647,000 after buying an additional 68 shares during the last quarter. 97.38% of the stock is currently owned by institutional investors.

About Fabrinet

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.