Fabrinet Sees Unusually Large Options Volume (NYSE:FN)

Fabrinet (NYSE:FN) saw some unusual options trading on Friday. Investors bought 2,012 put options on the stock. This represents an increase of approximately 332% compared to the typical daily volume of 466 put options.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in FN. Barclays PLC raised its stake in Fabrinet by 304.6% during the 3rd quarter. Barclays PLC now owns 69,128 shares of the technology company’s stock worth $16,345,000 after acquiring an additional 52,042 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Fabrinet by 14.7% in the third 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 in the last quarter. Pathstone Holdings LLC raised its position in shares of Fabrinet by 40.7% during the 3rd quarter. Pathstone Holdings LLC now owns 8,219 shares of the technology company’s stock valued at $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 $2,398,000. Finally, Freedom Investment Management Inc. boosted its holdings in Fabrinet by 106.2% in the 3rd quarter. Freedom Investment Management Inc. now owns 4,969 shares of the technology company’s stock worth $1,175,000 after buying an additional 2,559 shares during the period. 97.38% of the stock is owned by hedge funds and other institutional investors.

Fabrinet Price Performance

FN stock opened at $220.57 on Friday. Fabrinet has a one year low of $159.69 and a one year high of $281.79. The stock has a market cap of $8.00 billion, a PE ratio of 24.67 and a beta of 0.89. The firm has a 50 day simple moving average of $218.54 and a two-hundred day simple moving average of $230.29.

Fabrinet (NYSE:FN) last announced 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 return on equity of 18.48% and a net margin of 10.44%. On average, research analysts expect that Fabrinet will post 9.4 EPS for the current fiscal year.

Analyst Ratings Changes

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

Fabrinet Company Profile

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.