Fabrinet Target of Unusually Large Options Trading (NYSE:FN)

Fabrinet (NYSE:FN) was the recipient of unusually large options trading on Friday. Stock traders purchased 2,012 put options on the company. This represents an increase of approximately 332% compared to the typical volume of 466 put options.

Fabrinet Stock Performance

FN traded down $4.28 during trading on Friday, reaching $217.80. 167,814 shares of the stock were exchanged, compared to its average volume of 544,279. The stock has a market cap of $7.90 billion, a P/E ratio of 24.29 and a beta of 0.89. The stock’s 50 day moving average price is $218.70 and its two-hundred day moving average price is $230.39. Fabrinet has a twelve month low of $159.69 and a twelve month high of $281.79.

Fabrinet (NYSE:FN) last released its quarterly earnings data on Monday, February 3rd. The technology company reported $2.38 earnings per share for the quarter, missing the consensus estimate of $2.48 by ($0.10). Fabrinet had a return on equity of 18.48% and a net margin of 10.44%. Equities research analysts predict that Fabrinet will post 9.4 earnings per share for the current fiscal year.

Institutional Trading of Fabrinet

Hedge funds have recently made changes to their positions in the business. Norges Bank acquired a new stake in Fabrinet during the 4th quarter valued at $95,084,000. Capital Research Global Investors lifted its stake in shares of Fabrinet by 675.2% during the 4th quarter. Capital Research Global Investors now owns 417,020 shares of the technology company’s stock worth $91,694,000 after buying an additional 363,228 shares during the last quarter. Wasatch Advisors LP boosted its holdings in shares of Fabrinet by 47.0% during the 4th quarter. Wasatch Advisors LP now owns 1,132,636 shares of the technology company’s stock worth $249,044,000 after buying an additional 362,064 shares during the period. Wedge Capital Management L L P NC acquired a new position in Fabrinet in the 4th quarter valued at about $63,222,000. Finally, FMR LLC raised its holdings in Fabrinet by 13.1% in the 4th quarter. FMR LLC now owns 2,213,887 shares of the technology company’s stock valued at $486,789,000 after acquiring an additional 257,164 shares during the period. 97.38% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

FN has been the subject of several recent research reports. Rosenblatt Securities reaffirmed a “buy” rating and set a $285.00 price objective on shares of Fabrinet in a research report on Friday, March 14th. Barclays reduced their price target on Fabrinet from $292.00 to $245.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 4th. JPMorgan Chase & Co. lowered their price objective on shares of Fabrinet from $275.00 to $265.00 and set a “neutral” rating on the stock in a report on Tuesday, February 4th. Fox Advisors started coverage on shares of Fabrinet in a report on Tuesday, February 18th. They set an “overweight” rating and a $270.00 target price for the company. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $280.00 price target on shares of Fabrinet in a research note on Monday. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $246.63.

About Fabrinet

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.