Key Points
- Fabrinet Director Homa Bahrami sold 3,500 shares on Dec. 1 at an average price of $453.75 for proceeds of $1,588,125, reducing her stake by 16.04% to 18,316 shares (SEC Form 4 filed).
- Several analysts raised targets recently — Rosenblatt to $550 (buy), JPMorgan to $530 (overweight) and Barclays to $499 (equal weight) — and Fabrinet's consensus rating is a Moderate Buy with an average price target of $451.29.
- Shares opened at $448.74 (down ~2.3%), Fabrinet has a market cap of $16.08B and a P/E of 46.21, with a 12‑month range of $148.55 to $498 and 50‑/200‑day moving averages of $410.81 and $338.13.
Fabrinet (NYSE:FN - Get Free Report) Director Homa Bahrami sold 3,500 shares of the business's stock in a transaction on Monday, December 1st. The shares were sold at an average price of $453.75, for a total transaction of $1,588,125.00. Following the transaction, the director directly owned 18,316 shares in the company, valued at approximately $8,310,885. The trade was a 16.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link.
Fabrinet Trading Down 2.3%
NYSE:FN opened at $448.74 on Tuesday. The company has a 50-day moving average price of $410.81 and a 200-day moving average price of $338.13. The stock has a market cap of $16.08 billion, a price-to-earnings ratio of 46.21 and a beta of 1.05. Fabrinet has a 12 month low of $148.55 and a 12 month high of $498.00.
Wall Street Analysts Forecast Growth
Several research firms have weighed in on FN. Rosenblatt Securities lifted their price objective on Fabrinet from $425.00 to $550.00 and gave the company a "buy" rating in a research report on Tuesday, November 4th. Weiss Ratings restated a "buy (b)" rating on shares of Fabrinet in a research report on Wednesday, November 26th. Barclays upped their price target on Fabrinet from $329.00 to $499.00 and gave the stock an "equal weight" rating in a research note on Wednesday, November 5th. Northland Securities set a $550.00 price objective on Fabrinet in a research report on Tuesday, November 4th. Finally, JPMorgan Chase & Co. upped their target price on shares of Fabrinet from $430.00 to $530.00 and gave the stock an "overweight" rating in a research report on Tuesday, November 4th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Fabrinet currently has an average rating of "Moderate Buy" and a consensus price target of $451.29.
Check Out Our Latest Report on FN
Institutional Trading of Fabrinet
Large investors have recently added to or reduced their stakes in the business. Strategic Advocates LLC purchased a new position in shares of Fabrinet during the 3rd quarter worth $103,000. CIBC Bancorp USA Inc. bought a new position in Fabrinet in the 3rd quarter worth $1,405,000. Danske Bank A S purchased a new position in Fabrinet during the third quarter valued at $1,136,000. Advisory Services Network LLC bought a new stake in Fabrinet during the third quarter valued at about $83,000. Finally, Hancock Whitney Corp increased its position in Fabrinet by 0.6% in the third quarter. Hancock Whitney Corp now owns 10,695 shares of the technology company's stock worth $3,900,000 after buying an additional 68 shares in the last quarter. 97.38% of the stock is currently owned by institutional investors.
Fabrinet Company Profile
(
Get Free Report)
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.
Further Reading
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