Insider Selling: David T. Mitchell Unloads 40,000 Shares of Fabrinet Stock (FN)
Fabrinet (NYSE:FN) CEO David T. Mitchell sold 40,000 shares of Fabrinet stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $16.01, for a total value of $640,400.00. Following the completion of the transaction, the chief executive officer now directly owns 266,905 shares of the company’s stock, valued at approximately $4,273,149. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Separately, analysts at B. Riley downgraded shares of Fabrinet from a “buy” rating to a “neutral” rating in a research note on Thursday, August 14th. They now have a $21.00 price target on the stock, down previously from $26.50. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Fabrinet currently has an average rating of “Hold” and a consensus target price of $22.70.
Fabrinet (NYSE:FN) traded down 0.50% during mid-day trading on Wednesday, hitting $15.92. 212,050 shares of the company’s stock traded hands. Fabrinet has a 52 week low of $13.57 and a 52 week high of $22.67. The stock has a 50-day moving average of $17.8 and a 200-day moving average of $19.52. The company has a market cap of $558.9 million and a P/E ratio of 5.87.
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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