Fabrinet (NYSE:FN) saw a significant decline in short interest during the month of October. As of October 31st, there was short interest totalling 1,020,000 shares, a decline of 11.3% from the September 30th total of 1,150,000 shares. Currently, 2.8% of the company’s stock are sold short. Based on an average daily trading volume, of 379,900 shares, the short-interest ratio is currently 2.7 days.

FN stock traded up $0.18 during midday trading on Monday, hitting $61.04. The company’s stock had a trading volume of 355,217 shares, compared to its average volume of 391,293. The stock’s 50-day moving average price is $54.48 and its 200 day moving average price is $52.17. The company has a quick ratio of 2.26, a current ratio of 3.25 and a debt-to-equity ratio of 0.06. Fabrinet has a 1 year low of $42.33 and a 1 year high of $62.31. The stock has a market cap of $2.23 billion, a price-to-earnings ratio of 18.22 and a beta of 1.03.

Fabrinet (NYSE:FN) last posted its quarterly earnings data on Monday, November 4th. The technology company reported $0.86 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.72 by $0.14. The business had revenue of $399.00 million for the quarter, compared to analysts’ expectations of $390.30 million. Fabrinet had a return on equity of 14.48% and a net margin of 7.41%. The business’s revenue was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.92 earnings per share. As a group, equities analysts forecast that Fabrinet will post 3.18 earnings per share for the current fiscal year.

Several research analysts have weighed in on FN shares. ValuEngine raised Fabrinet from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. Stifel Nicolaus cut their price objective on Fabrinet from $65.00 to $60.00 and set a “buy” rating on the stock in a research report on Tuesday, August 20th. TD Securities boosted their price objective on Fabrinet from $41.00 to $42.00 and gave the stock a “hold” rating in a research report on Thursday, October 31st. Piper Jaffray Companies boosted their price objective on Fabrinet from $64.00 to $68.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. started coverage on Fabrinet in a research report on Monday, July 29th. They issued a “neutral” rating and a $57.00 price objective on the stock. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $58.88.

In related news, Director David T. Mitchell sold 30,000 shares of Fabrinet stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $50.03, for a total transaction of $1,500,900.00. Following the transaction, the director now owns 27,402 shares of the company’s stock, valued at $1,370,922.06. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Harpal Gill sold 12,942 shares of the business’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $60.59, for a total value of $784,155.78. Following the completion of the transaction, the chief operating officer now directly owns 64,725 shares in the company, valued at approximately $3,921,687.75. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 119,230 shares of company stock worth $6,467,656. 1.00% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of the business. Renaissance Group LLC raised its stake in shares of Fabrinet by 1.3% in the third quarter. Renaissance Group LLC now owns 14,161 shares of the technology company’s stock valued at $741,000 after buying an additional 188 shares during the period. Mason Street Advisors LLC raised its stake in shares of Fabrinet by 1.8% in the third quarter. Mason Street Advisors LLC now owns 12,516 shares of the technology company’s stock valued at $655,000 after buying an additional 221 shares during the period. USA Financial Portformulas Corp raised its stake in shares of Fabrinet by 8.2% during the 2nd quarter. USA Financial Portformulas Corp now owns 3,308 shares of the technology company’s stock valued at $173,000 after purchasing an additional 251 shares during the period. Miles Capital Inc. raised its stake in shares of Fabrinet by 6.2% during the 2nd quarter. Miles Capital Inc. now owns 4,762 shares of the technology company’s stock valued at $237,000 after purchasing an additional 278 shares during the period. Finally, Arizona State Retirement System raised its stake in shares of Fabrinet by 0.5% during the 2nd quarter. Arizona State Retirement System now owns 57,136 shares of the technology company’s stock valued at $2,838,000 after purchasing an additional 291 shares during the period. Hedge funds and other institutional investors own 94.48% of the company’s stock.

About Fabrinet

Fabrinet provides optical packaging and precision optical, electro-mechanical, and electronic manufacturing services in North America, the Asia-Pacific, and Europe. The company offers a range of optical and electro-mechanical capabilities in the manufacturing process, including process design and engineering, supply chain management, manufacturing, printed circuit board assembly, packaging, integration, final assembly, and test.

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