Fabrinet (NYSE:FN)’s share price fell 8.2% during trading on Thursday . The company traded as low as $36.38 and last traded at $36.98, with a volume of 969,236 shares traded. The stock had previously closed at $40.30.

A number of brokerages recently commented on FN. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Fabrinet in a research report on Sunday, May 29th. B. Riley upgraded Fabrinet to a “buy” rating and set a $42.25 target price on the stock in a research report on Monday, May 9th. Stifel Nicolaus lifted their target price on Fabrinet from $34.00 to $40.00 and gave the company a “buy” rating in a research report on Tuesday, May 3rd. Needham & Company LLC lifted their target price on Fabrinet from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Tuesday, May 3rd. Finally, Piper Jaffray Cos. restated an “overweight” rating and issued a $44.00 target price (up previously from $36.00) on shares of Fabrinet in a research report on Thursday, May 5th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Fabrinet currently has a consensus rating of “Buy” and an average price target of $40.61.

The firm’s 50 day moving average price is $37.11 and its 200 day moving average price is $31.85. The stock has a market capitalization of $1.34 billion and a price-to-earnings ratio of 24.57.

Fabrinet (NYSE:FN) last released its quarterly earnings results on Monday, May 2nd. The company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.03. During the same quarter in the prior year, the company earned $0.36 EPS. The firm earned $250.90 million during the quarter, compared to analyst estimates of $242.80 million. The business’s revenue was up 32.4% on a year-over-year basis. Equities analysts predict that Fabrinet will post $2.10 EPS for the current fiscal year.

In other Fabrinet news, CEO David T. Mitchell sold 75,000 shares of the stock in a transaction on Monday, May 16th. The stock was sold at an average price of $33.88, for a total transaction of $2,541,000.00. Following the sale, the chief executive officer now owns 597,322 shares in the company, valued at approximately $20,237,269.36. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Homa Bahrami sold 5,000 shares of the stock in a transaction on Thursday, May 26th. The shares were sold at an average price of $35.34, for a total value of $176,700.00. Following the sale, the director now owns 18,616 shares in the company, valued at approximately $657,889.44. The disclosure for this sale can be found here.

Other large investors recently made changes to their positions in the company. US Bancorp DE boosted its stake in shares of Fabrinet by 65.0% in the fourth quarter. US Bancorp DE now owns 62,187 shares of the company’s stock worth $1,481,000 after buying an additional 24,498 shares during the period. Robeco Institutional Asset Management B.V. bought a new stake in shares of Fabrinet during the fourth quarter worth approximately $2,019,000. New York State Common Retirement Fund boosted its stake in shares of Fabrinet by 2.7% in the fourth quarter. New York State Common Retirement Fund now owns 71,953 shares of the company’s stock worth $1,714,000 after buying an additional 1,900 shares during the period. California Public Employees Retirement System boosted its stake in shares of Fabrinet by 16.1% in the fourth quarter. California Public Employees Retirement System now owns 188,700 shares of the company’s stock worth $4,495,000 after buying an additional 26,200 shares during the period. Finally, Rhumbline Advisers boosted its stake in shares of Fabrinet by 4.2% in the fourth quarter. Rhumbline Advisers now owns 52,330 shares of the company’s stock worth $1,247,000 after buying an additional 2,125 shares during the period.

Fabrinet provides optical packaging and precision optical, electro-mechanical and electronic manufacturing services to original equipment manufacturers (OEMs) of complex 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 entire manufacturing process, including process design and engineering, supply chain management, manufacturing, complex printed circuit board assembly, advanced packaging, integration, final assembly and test.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.