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

A number of brokerages have recently issued reports on FN. JPMorgan Chase & Co. increased their target price on Fabrinet from $37.00 to $42.00 and gave the company an “overweight” rating in a research report on Friday, May 27th. B. Riley restated a “buy” rating and issued a $42.25 price objective on shares of Fabrinet in a report on Friday. Zacks Investment Research lowered Fabrinet from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 5th. Piper Jaffray Cos. restated an “overweight” rating and issued a $44.00 price objective (up previously from $36.00) on shares of Fabrinet in a report on Thursday, May 5th. Finally, 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. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $40.61.

The company has a market capitalization of $1.46 billion and a price-to-earnings ratio of 26.90. The stock has a 50 day moving average price of $37.23 and a 200 day moving average price of $32.90.

In related news, Director Frank H. Levinson sold 19,942 shares of the company’s 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 transaction, the director now owns 53,887 shares of the company’s stock, valued at $1,805,214.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 value 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 disclosure for this sale can be found here.

A number of hedge funds and institutional investors have made changes to their positions in 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. Argent Capital Management LLC acquired a new position in shares of Fabrinet during the fourth quarter worth $1,285,000. 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. Finally, Russell Frank Co acquired a new position in shares of Fabrinet during the fourth quarter worth $2,381,000.

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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