Stock Traders Buy High Volume of Fabrinet Call Options (FN)

Fabrinet (NYSE:FN) saw some unusual options trading on Tuesday. Stock traders purchased 2,293 call options on the stock. This is an increase of 2,193% compared to the typical volume of 100 call options.

In other news, insider David T. Mitchell sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $30.93, for a total value of $1,546,500.00. Following the completion of the transaction, the insider now directly owns 111,057 shares of the company’s stock, valued at $3,434,993.01. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider David T. Mitchell sold 69,801 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $30.02, for a total value of $2,095,426.02. Following the completion of the transaction, the insider now directly owns 111,057 shares of the company’s stock, valued at $3,333,931.14. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 128,401 shares of company stock valued at $3,900,098. 3.30% of the stock is currently owned by corporate insiders.

Large investors have recently bought and sold shares of the business. Flinton Capital Management LLC lifted its position in shares of Fabrinet by 62.7% during the second quarter. Flinton Capital Management LLC now owns 3,706 shares of the technology company’s stock worth $158,000 after acquiring an additional 1,428 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Fabrinet during the third quarter worth $161,000. Russell Investments Group Ltd. lifted its position in shares of Fabrinet by 139.7% during the third quarter. Russell Investments Group Ltd. now owns 4,821 shares of the technology company’s stock worth $179,000 after acquiring an additional 2,810 shares in the last quarter. Amalgamated Bank purchased a new stake in shares of Fabrinet during the second quarter worth $215,000. Finally, Profund Advisors LLC lifted its position in shares of Fabrinet by 9.1% during the second quarter. Profund Advisors LLC now owns 7,195 shares of the technology company’s stock worth $307,000 after acquiring an additional 600 shares in the last quarter. Hedge funds and other institutional investors own 96.45% of the company’s stock.

Several equities analysts recently commented on the company. ValuEngine upgraded Fabrinet from a “hold” rating to a “buy” rating in a research note on Thursday. JPMorgan Chase & Co. downgraded Fabrinet from an “overweight” rating to a “neutral” rating and set a $42.00 price objective on the stock. in a research note on Tuesday, November 7th. Northland Securities set a $37.00 price objective on Fabrinet and gave the company a “buy” rating in a research note on Monday, January 29th. Needham & Company LLC dropped their price objective on Fabrinet from $60.00 to $45.00 and set a “strong-buy” rating on the stock in a research note on Tuesday, November 7th. Finally, Piper Jaffray Companies reiterated a “buy” rating on shares of Fabrinet in a research note on Friday, November 10th. Two analysts have rated the stock with a sell rating, one has given a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $41.25.

Fabrinet (FN) opened at $29.04 on Friday. The company has a market capitalization of $1,090.00, a P/E ratio of 12.36, a P/E/G ratio of 1.25 and a beta of 0.75. Fabrinet has a 12 month low of $24.02 and a 12 month high of $49.63. The company has a quick ratio of 1.85, a current ratio of 2.84 and a debt-to-equity ratio of 0.02.

Fabrinet (NYSE:FN) last posted its earnings results on Monday, November 6th. The technology company reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.07). The company had revenue of $357.31 million for the quarter, compared to analysts’ expectations of $358.91 million. Fabrinet had a return on equity of 12.96% and a net margin of 6.24%. equities analysts expect that Fabrinet will post 2 EPS for the current year.

Fabrinet announced that its board has initiated a stock repurchase program on Monday, February 5th that authorizes the company to buyback $30.00 million in outstanding shares. This buyback authorization authorizes the technology company to reacquire shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

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Fabrinet Company Profile

Fabrinet provides optical packaging and precision optical, electro-mechanical and electronic manufacturing services to original equipment manufacturers (OEMs) of products, such as optical communication components, modules and sub-systems, industrial lasers, medical devices and sensors. The Company offers a range of optical and electro-mechanical capabilities across the manufacturing process, including process design and engineering, supply chain management, manufacturing, complex printed circuit board assembly, advanced packaging, integration, final assembly and test.

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