Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Fabrinet shares valued at $1,914,021 were sold by Archer Edward T. on Sep 05 ’24. At $220.26 per share, Archer Edward T. sold 8,690 shares. The insider’s holdings dropped to 8,333 shares worth approximately $2.01 million following the completion of this transaction.
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Also, Archer Edward T. purchased 8,690 shares, netting a total of over 1,914,022 in proceeds.
Before that, Grady Seamus had sold 26,650 shares from its account. In a trade valued at $7,195,500, the Chief Executive Officer traded Fabrinet shares for $270.00 each. Upon closing the transaction, the insider’s holdings decreased to 26,650 shares, worth approximately $9.07 million.
As published in their initiating research note from Jefferies on June 26, 2024, Fabrinet [FN] has been a Hold and the price target has been revised to $230. Analysts at Northland Capital upgraded the stock from ‘”a Market perform”‘ to ‘”an Outperform”‘ outlook in a report released in late March. As of February 06, 2024, Northland Capital has decreased its “an Outperform” rating to a “Market perform” for FN. Earlier on January 08, 2024, JP Morgan downgraded its rating. Their new recommendation was “a Neutral” for FN stock which previously was a “an Overweight”.
Analyzing FN Stock Performance
During the last five days, there has been a drop of approximately -1.85%. Over the course of the year, Fabrinet shares have jumped approximately 26.61%. Shares of the company reached a 52-week high of $278.38 on 08/20/24 and a 52-week low of $159.69 on 04/19/24. A 50-day SMA is recorded $239.90, while a 200-day SMA reached $220.34. Nevertheless, trading volume fell to 0.51 million shares from 0.22 million shares the previous day.
Support And Resistance Levels for Fabrinet (FN)
According to the 24-hour chart, there is a support level at 238.90, which, if violated, would cause prices to drop to 236.83. In the upper region, resistance lies at 245.09. The next price resistance is at 249.20. RSI (Relative Strength Index) is 46.34 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -3.35, which suggests the price will decrease in the coming days. Percent R is at 80.67%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
