Key Points
- Director Thomas Kelly sold 2,200 shares on Dec. 4 at an average price of $464.14 for about $1.02M, leaving him with 18,789 shares — a reported 10.48% reduction in his holdings (disclosed via SEC Form 4).
- Fabrinet shares remain near their 52-week high (opened $479.07; 52-week range $148.55–$498) and analysts have been raising targets (Needham $540, JPMorgan $530), with a consensus rating of "Moderate Buy" and an average target of $451.29.
- The company has a market capitalization of about $17.16 billion, a P/E of 49.34, and high institutional ownership at approximately 97.38%.
Fabrinet (NYSE:FN - Get Free Report) Director Thomas Kelly sold 2,200 shares of the business's stock in a transaction dated 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 approximately $8,720,726.46. This represents a 10.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.
Fabrinet Stock Up 1.5%
Shares of Fabrinet stock opened at $479.07 on Friday. Fabrinet has a 52-week low of $148.55 and a 52-week high of $498.00. The company has a market capitalization of $17.16 billion, a P/E ratio of 49.34 and a beta of 1.05. The company has a 50 day moving average of $418.24 and a 200 day moving average of $343.04.
Analyst Upgrades and Downgrades
A number of equities analysts recently commented on the stock. Needham & Company LLC boosted their target price on shares of Fabrinet from $440.00 to $540.00 and gave the stock a "buy" rating in a research note on Tuesday, November 4th. JPMorgan Chase & Co. upped their price objective on Fabrinet from $430.00 to $530.00 and gave the stock an "overweight" rating in a research report on Tuesday, November 4th. Zacks Research upgraded Fabrinet from a "hold" rating to a "strong-buy" rating in a report on Thursday, October 23rd. Barclays boosted their target price on Fabrinet from $329.00 to $499.00 and gave the stock an "equal weight" rating in a research note on Wednesday, November 5th. Finally, B. Riley upped their price target on Fabrinet from $184.00 to $220.00 and gave the company a "neutral" rating in a report on Tuesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, Fabrinet currently has a consensus rating of "Moderate Buy" and an average target price of $451.29.
Read Our Latest Report on Fabrinet
Institutional Trading of Fabrinet
Large investors have recently bought and sold shares of the business. Allworth Financial LP lifted its stake in Fabrinet by 36.1% in the 3rd quarter. Allworth Financial LP now owns 377 shares of the technology company's stock worth $137,000 after acquiring an additional 100 shares in the last quarter. Swiss Life Asset Management Ltd grew its position in Fabrinet by 78.2% in the third quarter. Swiss Life Asset Management Ltd now owns 1,648 shares of the technology company's stock worth $601,000 after acquiring an additional 723 shares in the last quarter. Strategic Advocates LLC acquired a new position in Fabrinet during the third quarter worth $103,000. CIBC Bancorp USA Inc. acquired a new position in shares of Fabrinet during the 3rd quarter valued at about $1,405,000. Finally, Danske Bank A S acquired a new position in Fabrinet during the third quarter valued at approximately $1,136,000. Institutional investors and hedge funds own 97.38% of the company's stock.
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.
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