Fabrinet (NYSE:FN) Receives $643.00 Consensus Price Target from Analysts

Fabrinet (NYSE:FN) has received an average recommendation of “Moderate Buy” from the ten brokerages that are presently covering the company, Marketbeat.com reports. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $643.00.

A number of research analysts recently commented on FN shares. Rosenblatt Securities increased their price target on shares of Fabrinet from $715.00 to $750.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. Weiss Ratings downgraded Fabrinet from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, June 30th. Zacks Research lowered Fabrinet from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 15th. Wall Street Zen cut Fabrinet from a “buy” rating to a “hold” rating in a report on Monday, July 20th. Finally, Fox Advisors downgraded Fabrinet from a “strong-buy” rating to an “equal weight” rating in a research report on Tuesday, May 5th.

Fabrinet Stock Up 3.3%

FN stock opened at $561.84 on Thursday. Fabrinet has a 52 week low of $272.49 and a 52 week high of $748.89. The firm has a market capitalization of $20.13 billion, a P/E ratio of 48.27 and a beta of 1.23. The company has a fifty day simple moving average of $539.39 and a two-hundred day simple moving average of $565.45.

Insider Buying and Selling

In other Fabrinet news, Director Homa Bahrami sold 2,500 shares of Fabrinet stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $711.91, for a total transaction of $1,779,775.00. Following the completion of the transaction, the director directly owned 16,233 shares of the company’s stock, valued at $11,556,435.03. The trade was a 13.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.24% of the stock is owned by insiders.

Hedge Funds Weigh In On Fabrinet

A number of large investors have recently made changes to their positions in the company. Core Wealth Advisors LLC purchased a new stake in Fabrinet in the 4th quarter valued at about $25,000. Cassaday & Co Wealth Management LLC bought a new stake in shares of Fabrinet in the 1st quarter valued at about $31,000. Harbour Investments Inc. lifted its holdings in Fabrinet by 75.0% during the fourth quarter. Harbour Investments Inc. now owns 63 shares of the technology company’s stock worth $29,000 after buying an additional 27 shares during the period. Creative Financial Designs Inc. ADV purchased a new stake in shares of Fabrinet during the 4th quarter worth $32,000. Finally, Quarry LP grew its position in shares of Fabrinet by 300.0% in the 4th quarter. Quarry LP now owns 72 shares of the technology company’s stock worth $33,000 after buying an additional 54 shares during the last quarter. 97.38% of the stock is owned by hedge funds and other institutional investors.

About Fabrinet

Fabrinet is a global provider of advanced optical packaging and precision optical, electro‐mechanical and electronic manufacturing services (CEM). The company specializes in complex manufacturing processes for original equipment manufacturers (OEMs) in communications, data center, industrial, instrumentation and medical markets. Key capabilities include high‐precision fiber alignment, micro‐assembly, testing and diagnostics, and integration of electro‐optic subassemblies.

Incorporated in 2000, Fabrinet operates under a corporate structure headquartered in Singapore with additional regional offices and design centers in the Americas, Europe and Asia.