Fabrinet (NYSE:FN) CEO Seamus Grady sold 6,081 shares of the firm’s stock in a transaction dated Thursday, November 15th. The stock was sold at an average price of $51.54, for a total value of $313,414.74. Following the transaction, the chief executive officer now owns 67,726 shares in the company, valued at approximately $3,490,598.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of NYSE:FN traded up $0.55 during trading on Friday, hitting $52.18. 318,806 shares of the company’s stock traded hands, compared to its average volume of 478,521. Fabrinet has a 52 week low of $24.02 and a 52 week high of $54.70. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.00 and a quick ratio of 2.09. The stock has a market capitalization of $1.83 billion, a PE ratio of 17.51, a price-to-earnings-growth ratio of 1.23 and a beta of 0.68.
Fabrinet (NYSE:FN) last released its quarterly earnings data on Monday, November 5th. The technology company reported $0.92 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.24. Fabrinet had a return on equity of 13.53% and a net margin of 6.54%. The business had revenue of $377.00 million for the quarter, compared to analysts’ expectations of $352.28 million. During the same quarter in the previous year, the business posted $0.75 EPS. Fabrinet’s revenue for the quarter was up 5.5% on a year-over-year basis. On average, research analysts expect that Fabrinet will post 3.12 earnings per share for the current year.
A number of brokerages have issued reports on FN. Zacks Investment Research cut Fabrinet from a “buy” rating to a “hold” rating in a report on Friday, August 24th. Needham & Company LLC cut Fabrinet from a “strong-buy” rating to a “buy” rating and raised their target price for the stock from $45.00 to $55.00 in a report on Tuesday, August 21st. They noted that the move was a valuation call. Piper Jaffray Companies upgraded Fabrinet to an “overweight” rating and set a $56.00 target price on the stock in a report on Tuesday, November 6th. B. Riley raised their target price on Fabrinet from $40.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, August 16th. Finally, ValuEngine upgraded Fabrinet from a “sell” rating to a “hold” rating in a report on Wednesday, August 8th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $50.17.
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 optical and electro-mechanical capabilities in the manufacturing process, including process design and engineering, supply chain management, manufacturing, printed circuit board assembly, packaging, integration, final assembly, and test.
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