Fabrinet (NYSE:FN) shot up 4.6% on Wednesday . The stock traded as high as $36.75 and last traded at $36.63, with a volume of 380,475 shares changing hands. The stock had previously closed at $35.02.

Several research firms recently weighed in on FN. B. Riley raised Fabrinet to a “buy” rating and set a $42.25 price objective on the stock in a report on Wednesday, May 4th. Piper Jaffray Cos. reissued an “overweight” rating and set a $44.00 price objective (up previously from $36.00) on shares of Fabrinet in a report on Thursday, May 5th. Needham & Company LLC raised their price objective on Fabrinet from $35.00 to $40.00 and gave the company a “buy” rating in a report on Tuesday, May 3rd. Stifel Nicolaus raised their price objective on Fabrinet from $34.00 to $40.00 and gave the company a “buy” rating in a report on Tuesday, May 3rd. Finally, JPMorgan Chase & Co. reissued a “buy” rating on shares of Fabrinet in a report on Sunday, May 29th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Fabrinet presently has an average rating of “Buy” and an average target price of $40.61.

The stock has a 50-day moving average of $37.13 and a 200 day moving average of $32.29. The company has a market capitalization of $1.31 billion and a price-to-earnings ratio of 24.01.

In other news, Director Frank H. Levinson sold 19,942 shares of the company’s stock in a transaction on Tuesday, May 24th. The shares were sold at an average price of $33.50, for a total value of $668,057.00. Following the transaction, the director now owns 53,887 shares of the company’s stock, valued at $1,805,214.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Homa Bahrami sold 5,000 shares of the company’s stock in a transaction on Thursday, May 26th. The stock was sold at an average price of $35.34, for a total transaction of $176,700.00. Following the completion of the transaction, the director now directly owns 18,616 shares in the company, valued at approximately $657,889.44. The disclosure for this sale can be found here.

Several hedge funds and institutional investors have recently added to or reduced their stakes in FN. Rhumbline Advisers boosted its position in Fabrinet by 4.2% in the fourth quarter. Rhumbline Advisers now owns 52,330 shares of the company’s stock valued at $1,247,000 after buying an additional 2,125 shares during the last quarter. US Bancorp DE boosted its position in Fabrinet by 65.0% in the fourth quarter. US Bancorp DE now owns 62,187 shares of the company’s stock valued at $1,481,000 after buying an additional 24,498 shares during the last quarter. California State Teachers Retirement System boosted its position in Fabrinet by 1.7% in the fourth quarter. California State Teachers Retirement System now owns 65,601 shares of the company’s stock valued at $1,563,000 after buying an additional 1,100 shares during the last quarter. New York State Common Retirement Fund boosted its position in Fabrinet by 2.7% in the fourth quarter. New York State Common Retirement Fund now owns 71,953 shares of the company’s stock valued at $1,714,000 after buying an additional 1,900 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. purchased a new position in Fabrinet during the fourth quarter valued at $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.

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.