Fabrinet (NYSE:FN) Sets New 1-Year High at $251.84

Fabrinet (NYSE:FN) shares reached a new 52-week high on Monday . The company traded as high as $251.84 and last traded at $251.46, with a volume of 222617 shares changing hands. The stock had previously closed at $240.92.

Analyst Ratings Changes

A number of analysts have recently commented on FN shares. B. Riley cut their target price on shares of Fabrinet from $173.00 to $171.00 and set a “neutral” rating for the company in a research note on Tuesday, May 7th. Needham & Company LLC reiterated a “buy” rating and set a $220.00 target price on shares of Fabrinet in a report on Tuesday, May 7th. JPMorgan Chase & Co. increased 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. Finally, Northland Securities upgraded shares of Fabrinet from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $200.00 to $220.00 in a report on Thursday, March 21st. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $161.00.

Fabrinet Stock Performance

The stock’s 50-day simple moving average is $209.14 and its 200 day simple moving average is $199.81. The company has a market capitalization of $8.98 billion, a PE ratio of 31.99 and a beta of 0.99.

Fabrinet (NYSE:FN) last announced its quarterly earnings data on Monday, May 6th. The technology company reported $2.21 EPS for the quarter, beating analysts’ consensus estimates of $1.93 by $0.28. The company had revenue of $731.54 million for the quarter, compared to the consensus estimate of $718.94 million. Fabrinet had a net margin of 9.90% and a return on equity of 17.67%. On average, analysts expect that Fabrinet will post 7.95 earnings per share for the current year.

Insider Activity at Fabrinet

In related news, Director Frank H. Levinson sold 6,000 shares of the stock in a transaction on Friday, May 24th. The shares were sold at an average price of $241.71, for a total value of $1,450,260.00. Following the transaction, the director now directly owns 5,709 shares of the company’s stock, valued at approximately $1,379,922.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.51% of the company’s stock.

Institutional Trading of Fabrinet

A number of large investors have recently bought and sold shares of FN. Park Place Capital Corp acquired a new stake in Fabrinet during the 4th quarter worth $26,000. Salem Investment Counselors Inc. acquired a new stake in shares of Fabrinet in the 4th quarter worth $29,000. GAMMA Investing LLC acquired a new stake in shares of Fabrinet in the 4th quarter worth $34,000. Parallel Advisors LLC lifted its stake in shares of Fabrinet by 59.7% in the 4th quarter. Parallel Advisors LLC now owns 206 shares of the technology company’s stock worth $39,000 after acquiring an additional 77 shares during the period. Finally, Orion Capital Management LLC acquired a new stake in shares of Fabrinet in the 3rd quarter worth $47,000. Institutional investors and hedge funds 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.