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

Fabrinet (NYSE:FNGet Free Report) has received a consensus rating of “Moderate Buy” from the ten analysts that are currently covering the firm, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $643.00.

Several brokerages have recently weighed in on FN. JPMorgan Chase & Co. dropped their price objective on shares of Fabrinet from $700.00 to $680.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 5th. Weiss Ratings lowered shares of Fabrinet from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, June 30th. Fox Advisors cut shares of Fabrinet from a “strong-buy” rating to an “equal weight” rating in a report on Tuesday, May 5th. Zacks Research downgraded shares of Fabrinet from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 15th. Finally, Barclays raised their price objective on shares of Fabrinet from $548.00 to $702.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 5th.

Check Out Our Latest Report on FN

Insider Buying and Selling at Fabrinet

In related news, Director Homa Bahrami sold 2,500 shares of Fabrinet stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $711.91, for a total transaction of $1,779,775.00. Following the completion of the sale, the director directly owned 16,233 shares of the company’s stock, valued at approximately $11,556,435.03. This trade represents a 13.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.24% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in FN. Core Wealth Advisors LLC bought a new stake in shares of Fabrinet in the fourth quarter valued at about $25,000. Cassaday & Co Wealth Management LLC bought a new position in Fabrinet during the first quarter worth about $31,000. Harbour Investments Inc. raised its stake in Fabrinet by 75.0% in the 4th quarter. Harbour Investments Inc. now owns 63 shares of the technology company’s stock worth $29,000 after purchasing an additional 27 shares in the last quarter. Creative Financial Designs Inc. ADV acquired a new stake in Fabrinet in the 4th quarter worth about $32,000. Finally, Quarry LP boosted its holdings in Fabrinet by 300.0% in the 4th quarter. Quarry LP now owns 72 shares of the technology company’s stock valued at $33,000 after purchasing an additional 54 shares during the period. Institutional investors own 97.38% of the company’s stock.

Fabrinet Price Performance

Shares of Fabrinet stock opened at $574.34 on Thursday. The business has a fifty day simple moving average of $530.99 and a two-hundred day simple moving average of $567.29. Fabrinet has a 1 year low of $272.49 and a 1 year high of $748.89. The company has a market capitalization of $20.58 billion, a price-to-earnings ratio of 49.34 and a beta of 1.23.

About Fabrinet

(Get Free Report)

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.

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Analyst Recommendations for Fabrinet (NYSE:FN)

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