The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Fabrinet shares valued at $5,135,625 were purchased by Gill Harpal on Nov 12 ’24. At $275.00 per share, Gill Harpal acquired 18,675 shares.
Also, Archer Edward T. sold 8,690 shares, netting a total of over 1,914,021 in proceeds. Following the sale of shares at $220.26 each, the insider now holds 8,333 shares.
Before that, Archer Edward T. had added 8,690 shares to its account. In a trade valued at $1,914,022, the Officer bought Fabrinet shares for $220.26 each.
As published in a research note from B. Riley Securities on November 20, 2024, Fabrinet [FN] has been rated down from a Neutral to a Sell and the price target has been revised to $178 from $194. Analysts at Barclays started covering the stock with ‘”an Equal weight”‘ outlook in a report released in mid November. Earlier on June 26, 2024, Jefferies initiated its rating. Their recommendation was “a Hold” for FN stock.
Analyzing FN Stock Performance
During the last five days, there has been a surge of approximately 17.50%. Over the course of the year, Fabrinet shares have jumped approximately 21.54%. Shares of the company reached a 52-week high of $281.79 on 01/22/25 and a 52-week low of $216.78 on 01/13/25. A 50-day SMA is recorded $236.17, while a 200-day SMA reached $229.52. Nevertheless, trading volume fell to 0.69 million shares from 0.32 million shares the previous day.
Support And Resistance Levels for Fabrinet (FN)
According to the 24-hour chart, there is a support level at 256.30, which, if violated, would cause prices to drop to 245.35. In the upper region, resistance lies at 279.99. The next price resistance is at 292.73. RSI (Relative Strength Index) is 70.85 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 19.95, which suggests the price will increase in the coming days. Percent R is at 21.38%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
