David T. Mitchell Sells 69,801 Shares of Fabrinet (FN) Stock

Fabrinet (NYSE:FN) insider David T. Mitchell sold 69,801 shares of the stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $30.02, for a total value of $2,095,426.02. Following the transaction, the insider now owns 111,057 shares of the company’s stock, valued at approximately $3,333,931.14. The transaction was disclosed in a filing with the SEC, which is available at this link.

Fabrinet (FN) opened at $29.04 on Friday. Fabrinet has a one year low of $24.02 and a one year high of $49.63. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.85 and a current ratio of 2.84. The company has a market cap of $1,090.00, a PE ratio of 12.36, a PEG ratio of 1.25 and a beta of 0.75.

Fabrinet (NYSE:FN) last posted its quarterly earnings data on Monday, November 6th. The technology company reported $0.55 EPS for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.07). Fabrinet had a return on equity of 12.96% and a net margin of 6.24%. The business had revenue of $357.31 million for the quarter, compared to analyst estimates of $358.91 million. research analysts anticipate that Fabrinet will post 2 earnings per share for the current year.

Fabrinet declared that its board has approved a share buyback program on Monday, February 5th that allows the company to buyback $30.00 million in shares. This buyback authorization allows the technology company to repurchase shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

Institutional investors have recently bought and sold shares of the company. Flinton Capital Management LLC boosted its stake in shares of Fabrinet by 62.7% during the 2nd quarter. Flinton Capital Management LLC now owns 3,706 shares of the technology company’s stock worth $158,000 after buying an additional 1,428 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Fabrinet during the 3rd quarter worth about $161,000. Russell Investments Group Ltd. boosted its stake in shares of Fabrinet by 139.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 4,821 shares of the technology company’s stock worth $179,000 after buying an additional 2,810 shares during the last quarter. Amalgamated Bank acquired a new position in shares of Fabrinet during the 2nd quarter worth about $215,000. Finally, Profund Advisors LLC boosted its stake in shares of Fabrinet by 9.1% during the 2nd quarter. Profund Advisors LLC now owns 7,195 shares of the technology company’s stock worth $307,000 after buying an additional 600 shares during the last quarter. Institutional investors own 96.45% of the company’s stock.

FN has been the subject of a number of research reports. Needham & Company LLC reiterated a “buy” rating on shares of Fabrinet in a report on Thursday, October 12th. B. Riley lowered their target price on Fabrinet from $46.50 to $42.50 and set a “buy” rating for the company in a report on Friday, November 3rd. Piper Jaffray Companies reiterated a “buy” rating on shares of Fabrinet in a report on Friday, November 10th. Northland Securities set a $37.00 target price on Fabrinet and gave the stock a “buy” rating in a report on Monday, January 29th. Finally, Stifel Nicolaus lowered their target price on Fabrinet from $40.00 to $35.00 and set a “buy” rating for the company in a report on Wednesday, January 24th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Fabrinet presently has a consensus rating of “Buy” and an average price target of $41.25.

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Fabrinet Company Profile

Fabrinet provides optical packaging and precision optical, electro-mechanical and electronic manufacturing services to original equipment manufacturers (OEMs) of products, such as optical communication components, modules and sub-systems, industrial lasers, medical devices and sensors. The Company offers a range of optical and electro-mechanical capabilities across the manufacturing process, including process design and engineering, supply chain management, manufacturing, complex printed circuit board assembly, advanced packaging, integration, final assembly and test.

Insider Buying and Selling by Quarter for Fabrinet (NYSE:FN)

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