In a filing, Fabrinet revealed its EVP, Sales & Marketing Archer Edward T. unloaded Company’s shares for reported $1.91 million on Sep 05 ’24. In the deal valued at $220.26 per share,8,690 shares were sold. As a result of this transaction, Archer Edward T. now holds 8,333 shares worth roughly $2.03 million.
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Then, Archer Edward T. bought 8,690 shares, generating $1,914,022 in total proceeds.
Before that, Grady Seamus sold 26,650 shares. Fabrinet shares valued at $7,195,500 were divested by the Chief Executive Officer at a price of $270.00 per share. As a result of the transaction, Grady Seamus now holds 37,643 shares, worth roughly $9.15 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 -8.94% to $243.02. Over the last five days, the stock has lost -7.80%. Fabrinet shares have risen nearly 27.68% since the year began. Nevertheless, the stocks have risen 44.94% over the past one year. While a 52-week high of $278.38 was reached on 08/20/24, a 52-week low of $149.19 was recorded on 04/19/24. SMA at 50 days reached $237.12, while 200 days put it at $217.63.
Levels Of Support And Resistance For FN Stock
The 24-hour chart illustrates a support level at 234.16, which if violated will result in even more drops to 225.30. On the upside, there is a resistance level at 255.01. A further resistance level may holdings at 267.00. The Relative Strength Index (RSI) on the 14-day chart is 49.17, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 8.09, which suggests price will go up in the next trading period. Percent R suggests that price movement has been low at 59.98%. Stochastics %K at 72.01% indicates the stock is a holding.
How much short interest is there in Fabrinet?
A steep rise in short interest was recorded in Fabrinet stocks on 2024-09-30, dropping by 37056.0 shares to a total of 1.37 million shares. Yahoo Finance data shows the prior-month short interest on 2024-08-30 was 1.41 million shares. There was a decline of -2.7%, which implies that there is a negative sentiment for the stock.
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.
