Toh-Seng Ng Sells 27,188 Shares of Fabrinet (FN) Stock

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.

Insider Buying and Selling by Quarter for Fabrinet (NYSE:FN)

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