Fabrinet (NYSE:FN) traded down 8.2% during mid-day 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 equities research analysts recently issued reports on the company. Needham & Company LLC increased their price objective on Fabrinet from $45.00 to $48.00 and gave the stock a “buy” rating in a research report on Monday, July 25th. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Fabrinet in a research report on Wednesday, July 20th. Zacks Investment Research downgraded Fabrinet from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 5th. Piper Jaffray Cos. reiterated an “overweight” rating and issued a $44.00 price objective (up previously from $36.00) on shares of Fabrinet in a research report on Thursday, May 5th. Finally, B. Riley upgraded Fabrinet to a “buy” rating and set a $42.25 price objective on the stock in a research report on Wednesday, May 4th. One investment 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 a consensus price target of $40.61.

The stock has a market cap of $1.36 billion and a price-to-earnings ratio of 25.02. The company’s 50-day moving average price is $37.10 and its 200-day moving average price is $31.95.

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

In other news, Director Homa Bahrami sold 5,000 shares of the business’s stock in a transaction on Thursday, May 26th. The shares were sold at an average price of $35.34, for a total transaction of $176,700.00. Following the completion of the sale, the director now owns 18,616 shares of the company’s stock, valued at approximately $657,889.44. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO David T. Mitchell sold 75,000 shares of the business’s stock in a transaction on Monday, May 16th. The shares were 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 directly owns 597,322 shares of the company’s stock, valued at approximately $20,237,269.36. The disclosure for this sale can be found here.

Several large investors have modified their holdings of FN. Rhumbline Advisers increased 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 last quarter. US Bancorp DE increased 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 last quarter. California State Teachers Retirement System increased its stake in shares of Fabrinet by 1.7% in the fourth quarter. California State Teachers Retirement System now owns 65,601 shares of the company’s stock worth $1,563,000 after buying an additional 1,100 shares during the last quarter. New York State Common Retirement Fund increased 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 last quarter. Finally, Robeco Institutional Asset Management B.V. acquired a new stake in shares of Fabrinet during the fourth quarter worth about $2,019,000.

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.

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