Fabrinet (NYSE:FN) saw some unusual options trading on Tuesday. Stock traders acquired 2,293 call options on the stock. This is an increase of 2,193% compared to the typical volume of 100 call options.

In other Fabrinet news, insider David T. Mitchell sold 69,801 shares of Fabrinet stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $30.02, for a total value of $2,095,426.02. Following the completion of the transaction, the insider now directly owns 111,057 shares of the company’s stock, valued at approximately $3,333,931.14. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider David T. Mitchell sold 50,000 shares of Fabrinet stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $30.93, for a total value of $1,546,500.00. Following the completion of the transaction, the insider now directly owns 111,057 shares of the company’s stock, valued at $3,434,993.01. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 128,401 shares of company stock valued at $3,900,098. 3.30% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of FN. Alliancebernstein L.P. lifted its stake in Fabrinet by 3.3% during the second quarter. Alliancebernstein L.P. now owns 47,300 shares of the technology company’s stock worth $2,018,000 after purchasing an additional 1,500 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in Fabrinet by 2.4% during the second quarter. Ameriprise Financial Inc. now owns 201,553 shares of the technology company’s stock worth $8,598,000 after purchasing an additional 4,781 shares during the last quarter. Nationwide Fund Advisors lifted its stake in Fabrinet by 64.3% during the second quarter. Nationwide Fund Advisors now owns 39,315 shares of the technology company’s stock worth $1,677,000 after purchasing an additional 15,380 shares during the last quarter. BlackRock Inc. lifted its stake in Fabrinet by 0.4% during the second quarter. BlackRock Inc. now owns 4,328,966 shares of the technology company’s stock worth $184,673,000 after purchasing an additional 17,385 shares during the last quarter. Finally, Amalgamated Bank purchased a new stake in Fabrinet during the second quarter worth approximately $215,000. Hedge funds and other institutional investors own 96.45% of the company’s stock.

Several equities analysts have recently issued reports on the company. ValuEngine cut Fabrinet from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Needham & Company LLC reiterated a “strong-buy” rating and issued a $40.00 price objective (down previously from $45.00) on shares of Fabrinet in a research note on Tuesday, February 6th. Stifel Nicolaus decreased their price objective on Fabrinet from $40.00 to $35.00 and set a “buy” rating for the company in a research note on Wednesday, January 24th. Northland Securities set a $37.00 price objective on Fabrinet and gave the company a “buy” rating in a research note on Monday, January 29th. Finally, Zacks Investment Research upgraded Fabrinet from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 24th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Fabrinet has a consensus rating of “Buy” and an average target price of $41.25.

Fabrinet (NYSE FN) opened at $29.53 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.84 and a quick ratio of 1.85. The stock has a market capitalization of $1,130.00, a PE ratio of 12.57, a PEG ratio of 1.14 and a beta of 0.75. Fabrinet has a 52 week low of $24.02 and a 52 week high of $49.63.

Fabrinet (NYSE:FN) last posted its earnings results on Monday, February 5th. The technology company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.02. The firm had revenue of $337.10 million during the quarter, compared to analysts’ expectations of $329.41 million. Fabrinet had a return on equity of 12.96% and a net margin of 6.24%. The firm’s revenue was down 4.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.91 earnings per share. sell-side analysts expect that Fabrinet will post 2.12 earnings per share for the current fiscal year.

Fabrinet announced that its board has authorized a stock repurchase program on Monday, February 5th that allows the company to buyback $30.00 million in shares. This buyback authorization allows the technology company to reacquire shares of its stock through open market purchases. Stock buyback programs 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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