Fabrinet (NYSE:FN) COO Harpal Gill Sells 6,377 Shares of Stock

Fabrinet (NYSE:FNGet Rating) COO Harpal Gill sold 6,377 shares of the firm’s stock in a transaction on Thursday, November 17th. The stock was sold at an average price of $128.12, for a total transaction of $817,021.24. Following the transaction, the chief operating officer now directly owns 35,013 shares of the company’s stock, valued at approximately $4,485,865.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Fabrinet Stock Down 1.2 %

FN stock opened at $128.19 on Tuesday. The firm has a market cap of $4.69 billion, a PE ratio of 21.65 and a beta of 1.00. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.95 and a current ratio of 2.95. The firm’s fifty day moving average is $107.52 and its 200 day moving average is $96.68. Fabrinet has a one year low of $74.57 and a one year high of $129.94.

Institutional Trading of Fabrinet

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FN. Capital International Investors grew its position in Fabrinet by 108.1% during the first quarter. Capital International Investors now owns 1,529,864 shares of the technology company’s stock valued at $160,835,000 after buying an additional 794,833 shares during the period. WCM Investment Management LLC acquired a new stake in shares of Fabrinet in the second quarter valued at about $26,203,000. Alyeska Investment Group L.P. acquired a new stake in shares of Fabrinet in the first quarter valued at about $33,032,000. Wellington Management Group LLP grew its position in shares of Fabrinet by 90.6% in the first quarter. Wellington Management Group LLP now owns 413,227 shares of the technology company’s stock valued at $43,443,000 after purchasing an additional 196,477 shares during the period. Finally, Victory Capital Management Inc. grew its position in shares of Fabrinet by 21.4% in the second quarter. Victory Capital Management Inc. now owns 977,443 shares of the technology company’s stock valued at $79,271,000 after purchasing an additional 172,296 shares during the period. Institutional investors and hedge funds own 97.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on FN. B. Riley raised their target price on shares of Fabrinet from $102.00 to $110.00 in a report on Tuesday, November 8th. StockNews.com raised shares of Fabrinet from a “hold” rating to a “buy” rating in a report on Friday, November 11th. Needham & Company LLC raised their target price on shares of Fabrinet from $135.00 to $140.00 and gave the stock a “buy” rating in a report on Tuesday, November 8th. Finally, Northland Securities raised their target price on shares of Fabrinet from $125.00 to $132.50 in a report on Thursday, October 6th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $119.90.

Fabrinet Company Profile

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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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