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

Fabrinet (NYSE:FN) was the recipient of some unusual options trading on Friday. Stock investors acquired 2,012 put options on the company. This represents an increase of approximately 332% compared to the average daily volume of 466 put options.

Institutional Investors Weigh In On Fabrinet

A number of institutional investors and hedge funds have recently modified their holdings of the company. Barclays PLC raised its holdings in shares of Fabrinet by 304.6% during the third quarter. Barclays PLC now owns 69,128 shares of the technology company’s stock worth $16,345,000 after purchasing an additional 52,042 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Fabrinet by 14.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 480,550 shares of the technology company’s stock worth $113,621,000 after purchasing an additional 61,491 shares during the period. Pathstone Holdings LLC grew its position in Fabrinet by 40.7% during the 3rd quarter. Pathstone Holdings LLC now owns 8,219 shares of the technology company’s stock worth $1,943,000 after purchasing an additional 2,378 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in shares of Fabrinet during the 3rd quarter valued at about $2,398,000. Finally, Freedom Investment Management Inc. lifted its holdings in shares of Fabrinet by 106.2% in the 3rd quarter. Freedom Investment Management Inc. now owns 4,969 shares of the technology company’s stock valued at $1,175,000 after buying an additional 2,559 shares during the period. Institutional investors and hedge funds own 97.38% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on FN. Fox Advisors started coverage on Fabrinet in a research report on Tuesday, February 18th. They set an “overweight” rating and a $270.00 target price for the company. Rosenblatt Securities reissued a “buy” rating and issued a $285.00 price objective on shares of Fabrinet in a research note on Friday, March 14th. JPMorgan Chase & Co. decreased their target price on shares of Fabrinet from $275.00 to $265.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 4th. Barclays dropped their price target on Fabrinet from $292.00 to $245.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 4th. Finally, Needham & Company LLC restated a “buy” rating and set a $280.00 price objective on shares of Fabrinet in a research report on Monday, March 17th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Fabrinet presently has an average rating of “Hold” and an average target price of $250.43.

Fabrinet Price Performance

Shares of FN stock opened at $220.57 on Friday. The stock’s 50-day moving average is $218.54 and its 200 day moving average is $230.29. Fabrinet has a 1-year low of $159.69 and a 1-year high of $281.79. The company has a market cap of $8.00 billion, a P/E ratio of 24.67 and a beta of 0.89.

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