Frank H. Levinson Sells 6,000 Shares of Fabrinet (NYSE:FN) Stock

Fabrinet (NYSE:FN - Get Free Report) Director Frank H. Levinson sold 6,000 shares of the company's stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $241.71, for a total transaction of $1,450,260.00. Following the transaction, the director now owns 5,709 shares in the company, valued at approximately $1,379,922.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Fabrinet Price Performance

Shares of Fabrinet stock traded up $3.72 on Friday, reaching $246.11. 400,213 shares of the company traded hands, compared to its average volume of 463,680. Fabrinet has a 52 week low of $97.82 and a 52 week high of $248.00. The company has a 50 day moving average of $193.81 and a 200 day moving average of $191.32. The firm has a market capitalization of $8.90 billion, a PE ratio of 32.68 and a beta of 1.04.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of FN. First Eagle Investment Management LLC boosted its holdings in Fabrinet by 0.8% in the 4th quarter. First Eagle Investment Management LLC now owns 7,508 shares of the technology company's stock worth $1,429,000 after buying an additional 60 shares during the period. Campbell Newman Asset Management Inc. boosted its holdings in Fabrinet by 0.4% in the 4th quarter. Campbell Newman Asset Management Inc. now owns 17,895 shares of the technology company's stock worth $3,406,000 after buying an additional 64 shares during the period. Signaturefd LLC boosted its holdings in Fabrinet by 15.9% in the 3rd quarter. Signaturefd LLC now owns 503 shares of the technology company's stock worth $84,000 after buying an additional 69 shares during the period. Raymond James Financial Services Advisors Inc. boosted its holdings in Fabrinet by 3.5% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 2,208 shares of the technology company's stock valued at $368,000 after purchasing an additional 75 shares during the period. Finally, Sequoia Financial Advisors LLC boosted its holdings in Fabrinet by 3.2% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 2,396 shares of the technology company's stock valued at $399,000 after purchasing an additional 75 shares during the period. 97.38% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Rosenblatt Securities restated a "buy" rating and issued a $230.00 target price on shares of Fabrinet in a report on Tuesday, February 6th. Needham & Company LLC restated a "buy" rating and issued a $220.00 target price on shares of Fabrinet in a report on Tuesday, May 7th. JPMorgan Chase & Co. upped their target price on shares of Fabrinet from $210.00 to $212.00 and gave the stock a "neutral" rating in a report on Thursday, April 11th. Northland Securities upgraded shares of Fabrinet from a "market perform" rating to an "outperform" rating and upped their target price for the stock from $200.00 to $220.00 in a report on Thursday, March 21st. Finally, B. Riley lowered their target price on shares of Fabrinet from $173.00 to $171.00 and set a "neutral" rating on the stock in a report on Tuesday, May 7th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $161.00.

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.

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