Fabrinet (NYSE:FN) CFO Toh-Seng Ng sold 27,188 shares of the business’s stock in a transaction on Friday, May 25th. The stock was sold at an average price of $36.91, for a total value of $1,003,509.08. Following the transaction, the chief financial officer now directly owns 200,887 shares in the company, valued at approximately $7,414,739.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
NYSE:FN opened at $36.85 on Friday. Fabrinet has a 52 week low of $24.02 and a 52 week high of $47.02. The company has a current ratio of 2.84, a quick ratio of 2.01 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $1.36 billion, a price-to-earnings ratio of 15.82, a price-to-earnings-growth ratio of 1.21 and a beta of 0.58.
Fabrinet (NYSE:FN) last posted its earnings results on Monday, May 7th. The technology company reported $0.71 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.71. Fabrinet had a return on equity of 12.48% and a net margin of 6.36%. The company had revenue of $332.20 million for the quarter, compared to the consensus estimate of $319.17 million. During the same quarter in the previous year, the business earned $0.80 earnings per share. The company’s revenue for the quarter was down 9.4% on a year-over-year basis. research analysts predict that Fabrinet will post 2.53 EPS for the current fiscal year.
Fabrinet announced that its board has approved a share buyback plan on Monday, February 5th that allows the company to repurchase $30.00 million in outstanding shares. This repurchase authorization allows the technology company to buy shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.
FN has been the topic of a number of recent research reports. Northland Securities set a $37.00 price objective on Fabrinet and gave the stock a “buy” rating in a research note on Monday, January 29th. ValuEngine lowered Fabrinet from a “buy” rating to a “hold” rating in a research note on Monday, April 2nd. Needham & Company LLC restated a “strong-buy” rating and issued a $40.00 target price (down previously from $45.00) on shares of Fabrinet in a research report on Tuesday, February 6th. Finally, B. Riley lifted their target price on Fabrinet to $38.00 and gave the company a “buy” rating in a research report on Tuesday, May 8th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $40.17.
A number of large investors have recently bought and sold shares of FN. Schwab Charles Investment Management Inc. raised its position in Fabrinet by 6.9% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 234,042 shares of the technology company’s stock valued at $6,718,000 after purchasing an additional 15,111 shares during the period. Unison Advisors LLC purchased a new stake in Fabrinet in the fourth quarter valued at $220,000. Vaughan Nelson Investment Management L.P. raised its holdings in shares of Fabrinet by 540.3% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 1,062,930 shares of the technology company’s stock valued at $30,506,000 after buying an additional 896,930 shares during the period. Miles Capital Inc. purchased a new stake in shares of Fabrinet in the 4th quarter valued at $219,000. Finally, LSV Asset Management raised its holdings in shares of Fabrinet by 52.3% in the 4th quarter. LSV Asset Management now owns 376,300 shares of the technology company’s stock valued at $10,799,000 after buying an additional 129,200 shares during the period. Institutional investors own 97.84% of the company’s stock.
Fabrinet Company Profile
Fabrinet provides optical packaging and precision optical, electro-mechanical, and electronic manufacturing services to original equipment manufacturers of optical communication components, modules and sub-systems, industrial lasers, medical devices, and sensors. It offers a range of optical and electro-mechanical capabilities across 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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