Fabrinet (NYSE:FN) shot up 3.9% during mid-day trading on Tuesday . The stock traded as high as $38.53 and last traded at $38.22, with a volume of 184,577 shares changing hands. The stock had previously closed at $36.77.

Several research firms recently issued reports on FN. Needham & Company LLC lifted their price objective on shares of Fabrinet from $45.00 to $48.00 and gave the company a “buy” rating in a research note on Monday, July 25th. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Fabrinet in a research note on Wednesday, July 20th. Zacks Investment Research lowered shares of Fabrinet from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 5th. B. Riley raised shares of Fabrinet to a “buy” rating and set a $42.25 price objective for the company in a research note on Monday, May 9th. Finally, Piper Jaffray Cos. reaffirmed an “overweight” rating and issued a $44.00 price objective (up previously from $36.00) on shares of Fabrinet in a research note 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. The company currently has an average rating of “Buy” and a consensus price target of $40.61.

The stock has a market capitalization of $1.38 billion and a PE ratio of 25.43. The firm has a 50-day moving average price of $37.16 and a 200-day moving average price of $32.79.

In other news, CEO David T. Mitchell sold 75,000 shares of the 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 completion of the sale, the chief executive officer now owns 597,322 shares of the company’s stock, valued at $20,237,269.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Frank H. Levinson sold 19,942 shares of the stock in a transaction on Tuesday, May 24th. The stock was sold at an average price of $33.50, for a total transaction of $668,057.00. Following the sale, the director now directly owns 53,887 shares of the company’s stock, valued at approximately $1,805,214.50. The disclosure for this sale can be found here.

Several large investors recently modified their holdings of the company. 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 valued at $1,563,000 after buying an additional 1,100 shares in the last quarter. California Public Employees Retirement System increased 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 valued at $4,495,000 after buying an additional 26,200 shares in the last quarter. Argent Capital Management LLC bought a new stake in shares of Fabrinet during the fourth quarter valued at about $1,285,000. 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 valued at $1,247,000 after buying an additional 2,125 shares in the last quarter. Finally, 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 valued at $1,714,000 after buying an additional 1,900 shares in the last quarter.

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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