Fabrinet (NYSE:FN) Short Interest Update

Fabrinet (NYSE:FN) was the recipient of a significant growth in short interest during the month of September. As of September 15th, there was short interest totalling 1,730,000 shares, a growth of 22.7% from the August 31st total of 1,410,000 shares. Currently, 4.8% of the company’s stock are short sold. Based on an average daily volume of 551,300 shares, the days-to-cover ratio is currently 3.1 days.

Insider Transactions at Fabrinet

In related news, EVP Edward T. Archer sold 8,690 shares of the company’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $220.26, for a total transaction of $1,914,059.40. Following the completion of the sale, the executive vice president now owns 8,333 shares in the company, valued at $1,835,426.58. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Fabrinet news, EVP Edward T. Archer sold 8,690 shares of the company’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $220.26, for a total value of $1,914,059.40. Following the completion of the sale, the executive vice president now owns 8,333 shares in the company, valued at $1,835,426.58. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Csaba Sverha sold 100 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $270.00, for a total value of $27,000.00. Following the completion of the sale, the chief financial officer now owns 19,347 shares of the company’s stock, valued at approximately $5,223,690. The disclosure for this sale can be found here. Insiders sold 44,728 shares of company stock worth $11,645,062 over the last quarter. 0.51% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Fabrinet

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in shares of Fabrinet by 0.9% in the first quarter. Vanguard Group Inc. now owns 4,348,671 shares of the technology company’s stock worth $821,986,000 after buying an additional 38,999 shares during the period. Congress Asset Management Co. MA increased its holdings in Fabrinet by 0.7% during the 1st quarter. Congress Asset Management Co. MA now owns 524,068 shares of the technology company’s stock worth $99,059,000 after purchasing an additional 3,684 shares during the period. TD Asset Management Inc increased its holdings in Fabrinet by 216.1% during the 1st quarter. TD Asset Management Inc now owns 409,761 shares of the technology company’s stock worth $77,453,000 after purchasing an additional 280,145 shares during the period. Bank of New York Mellon Corp increased its holdings in Fabrinet by 4.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 314,665 shares of the technology company’s stock worth $77,027,000 after purchasing an additional 12,409 shares during the period. Finally, Epoch Investment Partners Inc. increased its holdings in Fabrinet by 9.6% during the 2nd quarter. Epoch Investment Partners Inc. now owns 302,006 shares of the technology company’s stock worth $73,928,000 after purchasing an additional 26,475 shares during the period. 97.38% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have commented on FN shares. Needham & Company LLC upped their price target on Fabrinet from $270.00 to $280.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. B. Riley upped their price objective on Fabrinet from $171.00 to $196.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. Rosenblatt Securities upped their price objective on Fabrinet from $260.00 to $280.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. JPMorgan Chase & Co. upped their price objective on Fabrinet from $240.00 to $285.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. Finally, Jefferies Financial Group started coverage on Fabrinet in a research note on Wednesday, June 26th. They issued a “hold” rating and a $230.00 price objective for the company. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Fabrinet currently has a consensus rating of “Hold” and an average price target of $219.00.

Fabrinet Stock Down 1.4 %

Fabrinet stock traded down $3.33 during midday trading on Monday, reaching $236.44. 355,359 shares of the stock traded hands, compared to its average volume of 488,263. Fabrinet has a 12 month low of $149.19 and a 12 month high of $278.38. The stock’s fifty day moving average is $227.68 and its 200-day moving average is $220.11. The stock has a market cap of $8.55 billion, a P/E ratio of 31.84 and a beta of 0.96.

Fabrinet (NYSE:FN) last issued its quarterly earnings data on Monday, August 19th. The technology company reported $2.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.06 by $0.35. Fabrinet had a return on equity of 18.10% and a net margin of 10.27%. The business had revenue of $753.26 million for the quarter, compared to the consensus estimate of $732.63 million. During the same period in the prior year, the business posted $1.68 earnings per share. The company’s quarterly revenue was up 14.8% compared to the same quarter last year. On average, equities analysts predict that Fabrinet will post 9.11 EPS for the current fiscal year.

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 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.