Fabrinet (NYSE:FN) Short Interest Update

Fabrinet (NYSE:FN) was the recipient of a significant growth in short interest during the month of October. As of October 15th, there was short interest totalling 1,470,000 shares, a growth of 7.3% from the September 30th total of 1,370,000 shares. Approximately 4.1% of the shares of the company are short sold. Based on an average daily volume of 577,700 shares, the days-to-cover ratio is currently 2.5 days.

Insider Buying and Selling

In related news, CEO Seamus Grady sold 26,650 shares of Fabrinet stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $270.00, for a total value of $7,195,500.00. Following the sale, the chief executive officer now directly owns 37,643 shares in the company, valued at $10,163,610. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CFO Csaba Sverha sold 9,288 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $270.08, for a total value of $2,508,503.04. Following the completion of the transaction, the chief financial officer now owns 19,768 shares of the company’s stock, valued at approximately $5,338,941.44. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Seamus Grady sold 26,650 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $270.00, for a total value of $7,195,500.00. Following the completion of the transaction, the chief executive officer now owns 37,643 shares in the company, valued at $10,163,610. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 44,728 shares of company stock worth $11,645,062 over the last ninety days. 0.38% of the stock is owned by insiders.

Institutional Trading of Fabrinet

Several large investors have recently made changes to their positions in the company. Olympiad Research LP boosted its stake in Fabrinet by 89.5% in the third quarter. Olympiad Research LP now owns 2,047 shares of the technology company’s stock valued at $484,000 after buying an additional 967 shares in the last quarter. Principal Financial Group Inc. grew its position in Fabrinet by 18.5% during the 3rd quarter. Principal Financial Group Inc. now owns 227,300 shares of the technology company’s stock worth $53,743,000 after acquiring an additional 35,504 shares during the last quarter. Amalgamated Bank boosted its stake in shares of Fabrinet by 50.3% during the third quarter. Amalgamated Bank now owns 16,591 shares of the technology company’s stock valued at $3,923,000 after purchasing an additional 5,554 shares in the last quarter. Moloney Securities Asset Management LLC grew its holdings in shares of Fabrinet by 49.5% during the third quarter. Moloney Securities Asset Management LLC now owns 1,644 shares of the technology company’s stock worth $389,000 after purchasing an additional 544 shares during the last quarter. Finally, QRG Capital Management Inc. increased its position in Fabrinet by 3.8% in the 3rd quarter. QRG Capital Management Inc. now owns 3,607 shares of the technology company’s stock valued at $853,000 after acquiring an additional 133 shares during the period. Institutional investors and hedge funds own 97.38% of the company’s stock.

Fabrinet Trading Up 1.3 %

Shares of FN stock traded up $3.05 on Friday, hitting $244.02. The stock had a trading volume of 330,262 shares, compared to its average volume of 477,627. The company has a fifty day moving average price of $239.56 and a two-hundred day moving average price of $229.37. The firm has a market cap of $8.85 billion, a P/E ratio of 29.75 and a beta of 0.95. Fabrinet has a twelve month low of $152.80 and a twelve month high of $278.38.

Fabrinet (NYSE:FN) last issued its quarterly earnings data on Monday, August 19th. The technology company reported $2.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.06 by $0.35. The firm had revenue of $753.26 million during the quarter, compared to the consensus estimate of $732.63 million. Fabrinet had a net margin of 10.27% and a return on equity of 18.10%. The business’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same period last year, the business posted $1.68 earnings per share. On average, analysts expect that Fabrinet will post 9.11 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have issued reports on FN shares. JPMorgan Chase & Co. raised their price target on shares of Fabrinet from $240.00 to $285.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Needham & Company LLC upped their target price on shares of Fabrinet from $270.00 to $280.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. B. Riley boosted their target price on Fabrinet from $171.00 to $196.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Finally, Rosenblatt Securities boosted their price objective on Fabrinet from $260.00 to $280.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $219.00.

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.