Fabrinet Target of Unusually High Options Trading (NYSE:FN)

Fabrinet (NYSE:FN) was the recipient of unusually large options trading on Friday. Traders acquired 2,012 put options on the stock. This represents an increase of 332% compared to the typical daily volume of 466 put options.

Wall Street Analyst Weigh In

Several research analysts have weighed in on FN shares. Rosenblatt Securities reiterated a “buy” rating and set a $285.00 target price on shares of Fabrinet in a report on Friday, March 14th. JPMorgan Chase & Co. reduced their target price on Fabrinet from $275.00 to $265.00 and set a “neutral” rating on the stock in a report on Tuesday, February 4th. Barclays reduced their target price on Fabrinet from $292.00 to $245.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 4th. Fox Advisors started coverage on Fabrinet in a report on Tuesday, February 18th. They set an “overweight” rating and a $270.00 target price on the stock. Finally, Needham & Company LLC reiterated a “buy” rating and set a $280.00 target price on shares of Fabrinet in a report on Monday, March 17th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Fabrinet presently has an average rating of “Hold” and a consensus price target of $250.43.

Institutional Trading of Fabrinet

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC raised its holdings in Fabrinet by 10.0% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 4,402 shares of the technology company’s stock worth $968,000 after acquiring an additional 399 shares in the last quarter. Cim LLC raised its holdings in Fabrinet by 1.4% during the fourth quarter. Cim LLC now owns 6,013 shares of the technology company’s stock worth $1,322,000 after acquiring an additional 82 shares in the last quarter. Menard Financial Group LLC raised its holdings in Fabrinet by 34.1% during the fourth quarter. Menard Financial Group LLC now owns 1,707 shares of the technology company’s stock worth $375,000 after acquiring an additional 434 shares in the last quarter. Polar Asset Management Partners Inc. bought a new stake in Fabrinet during the fourth quarter worth about $3,364,000. Finally, Orion Capital Management LLC bought a new stake in Fabrinet during the fourth quarter worth about $62,000. Institutional investors own 97.38% of the company’s stock.

Fabrinet Price Performance

Shares of Fabrinet stock opened at $220.57 on Friday. The firm has a market cap of $8.00 billion, a price-to-earnings ratio of 24.67 and a beta of 0.89. The stock’s 50-day moving average is $218.54 and its 200-day moving average is $230.23. Fabrinet has a one year low of $159.69 and a one year high of $281.79.

Fabrinet (NYSE:FN) last issued its quarterly earnings results on Monday, February 3rd. The technology company reported $2.38 EPS for the quarter, missing analysts’ consensus estimates of $2.48 by ($0.10). Fabrinet had a net margin of 10.44% and a return on equity of 18.48%. On average, equities analysts expect that Fabrinet will post 9.4 EPS for the current year.

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 advanced optical and electro-mechanical capabilities in the manufacturing process, including process design and engineering, supply chain management, manufacturing, printed circuit board assembly, advanced packaging, integration, final assembly, and testing.