Fabrinet’s filing revealed that 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 $2.26 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 $10.2 million.
A number of analysts have revised their coverage, including Jefferies’s analysts, who began to cover the stock in late June with a ‘”a Hold”‘ rating. Northland Capital also remained covering FN and has increased its forecast on March 21, 2024 with a “an Outperform” recommendation from previously “Market perform” rating. Northland Capital revised its rating on February 06, 2024. It rated FN as “a Market perform” which previously was an “an Outperform”.
Price Performance Review of FN
On Monday, Fabrinet [NYSE:FN] saw its stock fall -0.06% to $270.93. Over the last five days, the stock has gained 13.07%. Fabrinet shares have risen nearly 42.35% since the year began. Nevertheless, the stocks have risen 62.23% over the past one year. While a 52-week high of $278.38 was reached on 08/20/24, a 52-week low of $159.30 was recorded on 04/19/24. SMA at 50 days reached $240.00, while 200 days put it at $222.03.
Levels Of Support And Resistance For FN Stock
The 24-hour chart illustrates a support level at 265.16, which if violated will result in even more drops to 259.39. On the upside, there is a resistance level at 277.04. A further resistance level may holdings at 283.14. The Relative Strength Index (RSI) on the 14-day chart is 63.63, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 18.74, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 9.34%. Stochastics %K at 95.95% indicates the stock is a selling.
How much short interest is there in Fabrinet?
A steep rise in short interest was recorded in Fabrinet stocks on 2024-10-15, dropping by -0.26 million shares to a total of 1.47 million shares. Yahoo Finance data shows the prior-month short interest on 2024-09-13 was 1.73 million shares. There was a decline of -17.95%, which implies that there is a negative sentiment for the stock.
