Fabrinet’s recently made public that its Director LEVINSON FRANK H unloaded Company’s shares for reported $1.45 million on May 24 ’24. In the deal valued at $241.71 per share,6,000 shares were sold. As a result of this transaction, LEVINSON FRANK H now holds 5,709 shares worth roughly $1.16 million.
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Then, Olson Rollance E. sold 1,000 shares, generating $245,619 in total proceeds. Upon selling the shares at $245.62, the Director now owns 24,981 shares.
Before that, KELLY THOMAS F sold 10,000 shares. Fabrinet shares valued at $2,221,684 were divested by the Director at a price of $222.17 per share. As a result of the transaction, KELLY THOMAS F now holds 20,814 shares, worth roughly $4.22 million.
Jefferies initiated its Fabrinet [FN] rating to a Hold in a research note published on June 26, 2024; the price target was $230. A number of analysts have revised their coverage, including Northland Capital’s analysts, who increased its forecast for the stock in late March from “a Market perform” to “an Outperform”. Northland Capital also remained covering FN and has decreased its forecast on February 06, 2024 with a “Market perform” recommendation from previously “an Outperform” rating. JP Morgan revised its rating on January 08, 2024. It rated FN as “a Neutral” which previously was an “an Overweight”.
Price Performance Review of FN
On Friday, Fabrinet [NYSE:FN] saw its stock fall -5.77% to $202.56. Over the last five days, the stock has lost -8.32%. Fabrinet shares have risen nearly 6.43% since the year began. Nevertheless, the stocks have risen 66.72% over the past one year. While a 52-week high of $266.39 was reached on 07/16/24, a 52-week low of $114.83 was recorded on 04/19/24. SMA at 50 days reached $238.74, while 200 days put it at $200.65. A total of 0.52 million shares were traded, compared to the trading of 0.36 million shares in the previous session.
Levels Of Support And Resistance For FN Stock
The 24-hour chart illustrates a support level at 198.15, which if violated will result in even more drops to 193.74. On the upside, there is a resistance level at 205.66. A further resistance level may holdings at 208.76. The Relative Strength Index (RSI) on the 14-day chart is 33.53, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -16.62, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 91.78%. Stochastics%K at 11.03% indicates the stock is a buying.
The most recent change occurred on October 05, 2023 when Rosenblatt began covering the stock and recommended ‘”a Buy”‘ rating along with a $230 price target.
