Fabrinet (NYSE:FN) saw unusually-strong trading volume on Tuesday . Approximately 724,681 shares were traded during mid-day trading, an increase of 68% from the previous session’s volume of 431,152 shares.The stock last traded at $34.55 and had previously closed at $38.03.

Several equities analysts recently commented on FN shares. Piper Jaffray Cos. reissued a “buy” rating and issued a $36.00 target price (up previously from $33.00) on shares of Fabrinet in a report on Tuesday, April 5th. B. Riley reissued a “buy” rating and issued a $32.00 target price on shares of Fabrinet in a report on Friday, April 29th. Stifel Nicolaus increased their target price on Fabrinet from $34.00 to $40.00 and gave the company a “buy” rating in a report on Tuesday, May 3rd. Needham & Company LLC increased their target price on Fabrinet from $35.00 to $40.00 and gave the company a “buy” rating in a report on Tuesday, May 3rd. Finally, JPMorgan Chase & Co. increased their target price on Fabrinet from $37.00 to $42.00 and gave the company an “overweight” rating in a report on Friday, May 27th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $40.61.

The stock has a market cap of $1.26 billion and a P/E ratio of 23.21. The stock has a 50-day moving average of $37.13 and a 200 day moving average of $32.29.

In related news, Director Frank H. Levinson sold 19,942 shares of Fabrinet stock in a transaction on Tuesday, May 24th. The shares were sold at an average price of $33.50, for a total transaction of $668,057.00. Following the transaction, the director now owns 53,887 shares in the company, valued at approximately $1,805,214.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Homa Bahrami sold 5,000 shares of Fabrinet 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 transaction, 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.

A number of institutional investors have recently modified their holdings of FN. Rhumbline Advisers raised its position 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 in the last quarter. US Bancorp DE raised its position 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 in the last quarter. California State Teachers Retirement System raised its position 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 in the last quarter. New York State Common Retirement Fund raised its position 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 in the last quarter. Finally, Robeco Institutional Asset Management B.V. purchased a new position in shares of Fabrinet during the fourth quarter worth approximately $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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