Is Buying Fabrinet Ordinary Shares (NYSE:FN), Having Lower Short Interest a Winning Strategy?

Investors sentiment increased to 1.07 in 2018 Q2. Its up 0.11, from 0.96 in 2018Q1. It increased, as 25 investors sold Fabrinet shares while 46 reduced holdings. 29 funds opened positions while 47 raised stakes. 35.95 million shares or 0.82% less from 36.25 million shares in 2018Q1 were reported.
Tci Wealth Advsrs accumulated 601 shares. Piedmont Investment Advsr Limited Liability Company holds 8,584 shares or 0.02% of its portfolio. Schwab Charles Investment Management Inc holds 0.01% in Fabrinet (NYSE:FN) or 273,274 shares. Capital Rech Global holds 1.41M shares or 0.01% of its portfolio. Commonwealth Of Pennsylvania Public School Empls Retrmt Sys has invested 0% of its portfolio in Fabrinet (NYSE:FN). Howe Rusling Incorporated has invested 0.02% in Fabrinet (NYSE:FN). Proshare Advsr Limited Liability Co has invested 0% of its portfolio in Fabrinet (NYSE:FN). Comerica Savings Bank accumulated 0.03% or 124,297 shares. Oppenheimer stated it has 13,736 shares or 0.01% of all its holdings. Citigroup Inc invested in 0% or 2,844 shares. Moreover, Profund Ltd Co has 0.01% invested in Fabrinet (NYSE:FN) for 6,745 shares. Scout Invests holds 80,249 shares. Neumeier Poma Inv Counsel Ltd holds 799,008 shares. 11,507 are owned by Alps Advisors. Price holds 0.35% in Fabrinet (NYSE:FN) or 19,216 shares.

Since June 30, 2018, it had 0 insider buys, and 9 sales for $11.86 million activity. 40,000 Fabrinet (NYSE:FN) shares with value of $1.82 million were sold by Mitchell David T.. $313,396 worth of Fabrinet (NYSE:FN) was sold by Grady Seamus. $955,440 worth of Fabrinet (NYSE:FN) was sold by Ng Toh-Seng on Monday, August 27. Olson Rollance E. had sold 5,000 shares worth $240,130 on Thursday, August 23.

The stock of Fabrinet Ordinary Shares (NYSE:FN) registered a decrease of 21.24% in short interest. FN’s total short interest was 1.18 million shares in December as published by FINRA. Its down 21.24% from 1.50M shares, reported previously. With 721,400 shares average volume, it will take short sellers 2 days to cover their FN’s short positions. The short interest to Fabrinet Ordinary Shares’s float is 3.32%.

The stock decreased 1.48% or $0.72 during the last trading session, reaching $47.97. About 509,559 shares traded or 28.61% up from the average. Fabrinet (NYSE:FN) has risen 22.11% since December 8, 2017 and is uptrending. It has outperformed by 6.49% the S&P500.

Fabrinet provides optical packaging and precision optical, electro-mechanical, and electronic manufacturing services to original equipment manufacturers of optical communication components, modules and sub-systems, industrial lasers, medical devices, and sensors. The company has market cap of $1.77 billion. It offers a range of optical and electro-mechanical capabilities across the manufacturing process, including process design and engineering, supply chain management, manufacturing, printed circuit board assembly, packaging, integration, final assembly, and test. It has a 19.93 P/E ratio. The companyÂ’s products comprise switching products, such as reconfigurable optical add-drop multiplexers, optical amplifiers, modulators, and other optical components and modules that enable network managers to route voice, video, and data communications traffic through fiber optic cables at various wavelengths and speeds, and over various distances; tunable lasers, transceivers, and transponders; and active optical cables, which provide high-speed interconnect capabilities for data centers and computing clusters, as well as for Infiniband, Ethernet, fiber channel, and optical backplane connectivity.

Fabrinet (NYSE:FN) Ratings Coverage

Among 4 analysts covering Fabrinet (NYSE:FN), 3 have Buy rating, 0 Sell and 1 Hold. Therefore 75% are positive. Fabrinet had 6 analyst reports since August 16, 2018 according to SRatingsIntel. As per Thursday, August 16, the company rating was maintained by FBR Capital. The firm has “Buy” rating by Needham given on Tuesday, August 21. The firm earned “Buy” rating on Tuesday, October 23 by Stifel Nicolaus. The company was downgraded on Tuesday, September 4 by FBR Capital. The company was maintained on Wednesday, September 5 by Needham.

More notable recent Fabrinet (NYSE:FN) news were published by: Seekingalpha.com which released: “Fabrinet: Gearing Up For A Rebound? – Seeking Alpha” on May 09, 2018, also Seekingalpha.com with their article: “Fabrinet Has A Very Solid Quarter – Seeking Alpha” published on August 23, 2018, Benzinga.com published: “B. Riley Downgrades Fabrinet (NYSE:FN), II-VI (NASDAQ:IIVI), Says Optical Companies ‘Will Suffer The Consequences’ Of Tariffs – Benzinga” on September 04, 2018. More interesting news about Fabrinet (NYSE:FN) were released by: Seekingalpha.com and their article: “Fabrinet: Weathering The Storm – Seeking Alpha” published on February 20, 2018 as well as Seekingalpha.com‘s news article titled: “Fabrinet: Rare Value In Technology – Seeking Alpha” with publication date: February 14, 2018.

Fabrinet (NYSE:FN) Ratings Chart

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