Fabrinet CEO David T. Mitchell Sells 40,000 Shares (FN)
Fabrinet (NYSE:FN) CEO David T. Mitchell sold 40,000 shares of the company’s stock on the open market in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $18.35, for a total transaction of $734,000.00. Following the transaction, the chief executive officer now directly owns 266,905 shares in the company, valued at approximately $4,897,707. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
A number of analysts have recently weighed in on FN shares. Analysts at Zacks upgraded shares of Fabrinet from an “underperform” rating to a “neutral” rating in a research note on Wednesday, July 2nd. They now have a $21.40 price target on the stock. Finally, analysts at Stifel Nicolaus raised their price target on shares of Fabrinet from $22.00 to $23.00 in a research note on Tuesday, May 6th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Fabrinet presently has an average rating of “Hold” and a consensus target price of $23.40.
Fabrinet (NYSE:FN) traded up 0.05% during mid-day trading on Monday, hitting $18.71. The stock had a trading volume of 103,322 shares. Fabrinet has a 1-year low of $13.66 and a 1-year high of $22.67. The stock has a 50-day moving average of $19.94 and a 200-day moving average of $19.68. The company has a market cap of $656.8 million and a P/E ratio of 6.86.
Fabrinet provides optical packaging and precision optical, electro-mechanical and electronic manufacturing services to original equipment manufacturers (NYSE:FN) of complex products, such as optical communication components, modules and sub-systems, industrial lasers and sensors.
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