Shares of Fabrinet (NYSE:FN) hit a new 52-week high during trading on Friday . The company traded as high as $41.40 and last traded at $40.36, with a volume of 984,266 shares traded. The stock had previously closed at $38.09.

A number of analysts have recently commented on the stock. B. Riley reissued a “buy” rating and issued a $42.25 price objective on shares of Fabrinet in a research report on Friday. Needham & Company LLC upped their price target on shares of 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. reaffirmed a “buy” rating on shares of Fabrinet in a research report on Wednesday, July 20th. Zacks Investment Research lowered shares of Fabrinet from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 5th. Finally, Piper Jaffray Cos. reaffirmed an “overweight” rating and set a $44.00 price target (up from $36.00) on shares of Fabrinet in a research report on Thursday, May 5th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $40.61.

The company’s 50-day moving average is $37.21 and its 200-day moving average is $32.82. The firm has a market cap of $1.45 billion and a price-to-earnings ratio of 26.663.

In other Fabrinet news, Director Homa Bahrami sold 5,000 shares of the firm’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 transaction, the director now directly owns 18,616 shares in the company, valued at approximately $657,889.44. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO David T. Mitchell sold 75,000 shares of the firm’s stock in a transaction on Monday, May 16th. The shares were sold at an average price of $33.88, for a total value of $2,541,000.00. Following the transaction, the chief executive officer now owns 597,322 shares in the company, valued at $20,237,269.36. The disclosure for this sale can be found here.

A number of institutional investors recently modified their holdings of the stock. Russell Frank Co bought a new position in shares of Fabrinet during the fourth quarter valued at $2,381,000. Argent Capital Management LLC bought a new position in shares of Fabrinet during the fourth quarter valued at $1,285,000. California Public Employees Retirement System boosted its position 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 during the period. US Bancorp DE boosted 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 valued at $1,481,000 after buying an additional 24,498 shares during the period. Finally, Rhumbline Advisers boosted 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 valued at $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.

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