Fabrinet (NYSE:FN) Director Thomas Kelly Sells 2,200 Shares

Fabrinet (NYSE:FN) Director Thomas Kelly sold 2,200 shares of the business’s stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $464.14, for a total value of $1,021,108.00. Following the transaction, the director directly owned 18,789 shares of the company’s stock, valued at $8,720,726.46. The trade was a 10.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Fabrinet Stock Up 1.5%

FN traded up $7.29 on Friday, hitting $479.07. 532,007 shares of the company traded hands, compared to its average volume of 698,125. The stock has a market capitalization of $17.16 billion, a PE ratio of 49.34 and a beta of 1.05. Fabrinet has a 12-month low of $148.55 and a 12-month high of $498.00. The company has a 50 day moving average of $418.24 and a 200-day moving average of $343.04.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Needham & Company LLC lifted their target price on shares of Fabrinet from $440.00 to $540.00 and gave the company a “buy” rating in a research note on Tuesday, November 4th. Rosenblatt Securities upped their target price on shares of Fabrinet from $425.00 to $550.00 and gave the company a “buy” rating in a research note on Tuesday, November 4th. Zacks Research raised Fabrinet from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 23rd. JPMorgan Chase & Co. increased their price target on shares of Fabrinet from $430.00 to $530.00 and gave the company an “overweight” rating in a research note on Tuesday, November 4th. Finally, Northland Securities set a $550.00 price objective on Fabrinet in a report on Tuesday, November 4th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $451.29.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Cullen Frost Bankers Inc. raised its stake in shares of Fabrinet by 20.4% in the third quarter. Cullen Frost Bankers Inc. now owns 171 shares of the technology company’s stock worth $62,000 after purchasing an additional 29 shares during the last quarter. Coldstream Capital Management Inc. increased its stake in Fabrinet by 3.2% during the 2nd quarter. Coldstream Capital Management Inc. now owns 998 shares of the technology company’s stock worth $294,000 after buying an additional 31 shares in the last quarter. Evergreen Capital Management LLC lifted its stake in shares of Fabrinet by 1.0% in the second quarter. Evergreen Capital Management LLC now owns 3,032 shares of the technology company’s stock worth $893,000 after buying an additional 31 shares in the last quarter. Stephens Inc. AR grew its holdings in Fabrinet by 4.4% in the 3rd quarter. Stephens Inc. AR now owns 782 shares of the technology company’s stock valued at $285,000 after buying an additional 33 shares in the last quarter. Finally, Profund Advisors LLC lifted its holdings in Fabrinet by 2.2% in the third quarter. Profund Advisors LLC now owns 1,505 shares of the technology company’s stock valued at $549,000 after acquiring an additional 33 shares during the last quarter. Hedge funds and other institutional investors own 97.38% of the company’s stock.

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.