Stock Traders Buy High Volume of Fabrinet Call Options (FN)

Fabrinet (NYSE:FN) was the recipient of unusually large options trading on Tuesday. Traders purchased 2,293 call options on the stock. This represents an increase of approximately 2,193% compared to the average volume of 100 call options.

FN has been the topic of several research analyst reports. Needham & Company LLC reaffirmed a “buy” rating on shares of Fabrinet in a report on Thursday, October 12th. Zacks Investment Research raised shares of Fabrinet from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 24th. B. Riley decreased their price target on shares of Fabrinet from $46.50 to $42.50 and set a “buy” rating on the stock in a report on Friday, November 3rd. JPMorgan Chase & Co. cut shares of Fabrinet from an “overweight” rating to a “neutral” rating and set a $42.00 price target on the stock. in a report on Tuesday, November 7th. Finally, Piper Jaffray Companies reaffirmed a “buy” rating on shares of Fabrinet in a report on Friday, November 10th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Fabrinet has an average rating of “Buy” and an average price target of $41.25.

In other Fabrinet news, insider David T. Mitchell sold 69,801 shares of the stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $30.02, for a total transaction of $2,095,426.02. Following the sale, the insider now owns 111,057 shares in the company, valued at $3,333,931.14. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider David T. Mitchell sold 8,600 shares of the stock in a transaction on Monday, January 8th. The stock was sold at an average price of $30.02, for a total value of $258,172.00. Following the sale, the insider now owns 111,057 shares in the company, valued at approximately $3,333,931.14. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 128,401 shares of company stock worth $3,900,098. Company insiders own 3.30% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. First Trust Advisors LP increased its stake in Fabrinet by 16.9% in the fourth quarter. First Trust Advisors LP now owns 56,852 shares of the technology company’s stock valued at $1,632,000 after acquiring an additional 8,229 shares during the last quarter. Swiss National Bank increased its stake in Fabrinet by 6.3% in the fourth quarter. Swiss National Bank now owns 65,440 shares of the technology company’s stock valued at $1,878,000 after acquiring an additional 3,900 shares during the last quarter. California Public Employees Retirement System increased its stake in Fabrinet by 1.2% in the fourth quarter. California Public Employees Retirement System now owns 138,678 shares of the technology company’s stock valued at $3,980,000 after acquiring an additional 1,700 shares during the last quarter. Teacher Retirement System of Texas bought a new position in shares of Fabrinet during the fourth quarter valued at about $364,000. Finally, Heartland Advisors Inc. grew its stake in shares of Fabrinet by 61.4% during the fourth quarter. Heartland Advisors Inc. now owns 526,000 shares of the technology company’s stock valued at $15,096,000 after buying an additional 200,200 shares during the last quarter. 96.45% of the stock is currently owned by institutional investors and hedge funds.

Fabrinet (NYSE FN) opened at $29.04 on Friday. The company has a market capitalization of $1,090.00, a price-to-earnings ratio of 12.36, a P/E/G ratio of 1.25 and a beta of 0.75. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.84 and a quick ratio of 1.85. Fabrinet has a 12 month low of $24.02 and a 12 month high of $49.63.

Fabrinet (NYSE:FN) last released its earnings results on Monday, November 6th. The technology company reported $0.55 EPS for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.07). The firm had revenue of $357.31 million during the quarter, compared to the consensus estimate of $358.91 million. Fabrinet had a net margin of 6.24% and a return on equity of 12.96%. equities analysts forecast that Fabrinet will post 2 EPS for the current year.

Fabrinet declared that its board has approved a share buyback plan on Monday, February 5th that permits the company to repurchase $30.00 million in outstanding shares. This repurchase authorization permits the technology company to reacquire shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

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About Fabrinet

Fabrinet provides optical packaging and precision optical, electro-mechanical and electronic manufacturing services to original equipment manufacturers (OEMs) of 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 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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