Fabrinet (FN): David T. Mitchell , CEO & Chairman of Fabrinet sold 75,000 shares on May 16, 2016. The Insider selling transaction was reported by the company on May 17, 2016 to the Securities and Exchange Commission. The shares were sold at $33.88 per share for a total value of $2,540,925.00 , the company said in a SEC Form 4 Filing.
Other Insider transactions have been reported by the company according to SEC Form 4, on Apr 4, 2016, David T. Mitchell (CEO & Chairman) sold 40,000 shares at $31.41 per share price.On Feb 26, 2016, Harpal Gill (President & COO) sold 20,852 shares at $29.00 per share price.Also, On Nov 13, 2015, Toh-seng Ng (Chief Financial Officer) sold 2,655 shares at $23.26 per share price.On Nov 13, 2015, Rollance E. Olson (director) sold 5,000 shares at $23.02 per share price.
Fabrinet: On Monday, May 16, 2016 heightened volatility was witnessed in Fabrinet which led to swings in the share price. The shares opened for trading at $33.92 and hit $34.3166 on the upside , eventually ending the session at $34.03, with a gain of 0.59% or 0.2 points. The heightened volatility saw the trading volume jump to 2,34,924 shares. The 52-week high of the share price is $36.75 and the company has a market cap of $1,226 M . The 52-week low of the share price is at $17.71.
Company has been under the radar of several Street Analysts.Fabrinet is Reiterated by Stifel to Buy and the brokerage firm has raised the Price Target to $ 40 from a previous price target of $34 .The Rating was issued on May 3, 2016.Fabrinet is Reiterated by Needham to Buy and the brokerage firm has raised the Price Target to $ 40 from a previous price target of $35 .The Rating was issued on May 3, 2016.Fabrinet is Reiterated by Needham to Buy and the brokerage firm has raised the Price Target to $ 35 from a previous price target of $32 .The Rating was issued on Mar 8, 2016.
Fabrinet provides optical packaging and precision optical electro-mechanical and electronic manufacturing services to original equipment manufacturers (OEMs) of complex 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 entire manufacturing process including process design and engineering supply chain management manufacturing complex printed circuit board assembly advanced packaging integration final assembly and test. The Company focuses primarily on the production of low-volume high-mix products. The Company operates primarily in three geographic regions: North America Asia-Pacific and Europe. The products offered by the Company include optical communications devices solid state diode-pumped gas and fiber lasers and sensors.