Fabrinet (NYSE:FN) Short Interest Down 6.5% in April

Fabrinet (NYSE:FN - Get Free Report) was the recipient of a large decline in short interest in the month of April. As of April 30th, there was short interest totalling 1,450,000 shares, a decline of 6.5% from the April 15th total of 1,550,000 shares. Currently, 4.0% of the shares of the company are short sold. Based on an average trading volume of 482,400 shares, the short-interest ratio is presently 3.0 days.

Fabrinet Stock Down 2.0 %

FN stock traded down $4.70 during trading on Friday, hitting $230.45. 540,500 shares of the company's stock traded hands, compared to its average volume of 465,243. The firm has a market capitalization of $8.33 billion, a P/E ratio of 30.60 and a beta of 1.04. Fabrinet has a 1 year low of $94.14 and a 1 year high of $238.76. The business has a fifty day simple moving average of $190.76 and a two-hundred day simple moving average of $188.61.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. 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. Rosenblatt Securities reissued a "buy" rating and set a $230.00 target price on shares of Fabrinet in a research note on Tuesday, February 6th. Northland Securities upgraded Fabrinet from a "market perform" rating to an "outperform" rating and upped their price target for the stock from $200.00 to $220.00 in a research note on Thursday, March 21st. Needham & Company LLC reaffirmed a "buy" rating and set a $220.00 price objective on shares of Fabrinet in a report on Tuesday, May 7th. 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 investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $161.00.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Fabrinet by 0.4% during the third quarter. Vanguard Group Inc. now owns 4,333,317 shares of the technology company's stock valued at $722,017,000 after buying an additional 16,228 shares during the last quarter. Advisors Asset Management Inc. grew its stake in Fabrinet by 3.0% during the 3rd quarter. Advisors Asset Management Inc. now owns 7,265 shares of the technology company's stock valued at $1,210,000 after purchasing an additional 211 shares during the last quarter. Redwood Investments LLC acquired a new position in shares of Fabrinet in the fourth quarter valued at about $3,478,000. Wellington Management Group LLP raised its stake in shares of Fabrinet by 21.3% in the third quarter. Wellington Management Group LLP now owns 904,505 shares of the technology company's stock worth $150,709,000 after purchasing an additional 159,037 shares during the last quarter. Finally, Sei Investments Co. lifted its holdings in shares of Fabrinet by 16.8% during the third quarter. Sei Investments Co. now owns 90,345 shares of the technology company's stock worth $15,053,000 after purchasing an additional 13,022 shares during the period. Institutional investors own 97.38% of the company's stock.

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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