Fabrinet (NYSE:FN) President & Chief Operating Officer Harpal Gill has sold 21,464 shares of the company, according to a recent SEC filing. The transaction took place on February 29, 2024, with the insider receiving an average price of $215.5 per share. This sale resulted in a total value of $4,627,982.
Fabrinet is a global provider of advanced optical packaging and precision optical, electro-mechanical, and electronic manufacturing services to original equipment manufacturers of complex products, such as optical communication components, modules and sub-systems, industrial lasers, automotive components, medical devices, and sensors.
Over the past year, Harpal Gill has sold a total of 21,464 shares of Fabrinet and has not made any purchases of the stock. The insider transaction history for Fabrinet shows a pattern of insider sales, with 9 insider sells and 0 insider buys over the past year.
On the valuation front, Fabrinet shares were trading at $215.5 on the day of the insider's recent sale, giving the company a market capitalization of $7.937 billion. The price-earnings ratio stands at 31.59, which is above both the industry median of 23.355 and the company's historical median price-earnings ratio.
The stock's price-to-GF-Value ratio is 1.47, with a GF Value of $146.91, indicating that Fabrinet is significantly overvalued based on its GF Value. The GF Value is an intrinsic value estimate that takes into account historical trading multiples, a GuruFocus adjustment factor based on past returns and growth, and future business performance estimates from Morningstar analysts.
The recent insider sell by President & COO Harpal Gill may provide investors with insight into the insider's perspective on the stock's current valuation and future prospects.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
