Fabrinet (NYSE:FN) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Fabrinet (NYSE:FN) has been given a consensus rating of “Moderate Buy” by the nine analysts that are covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $451.2857.

A number of analysts have recently weighed in on FN shares. Needham & Company LLC upped their price objective on Fabrinet from $440.00 to $540.00 and gave the stock a “buy” rating in a research report on Tuesday, November 4th. Weiss Ratings reissued a “buy (b)” rating on shares of Fabrinet in a research note on Wednesday, November 26th. Rosenblatt Securities increased their price target on Fabrinet from $425.00 to $550.00 and gave the company a “buy” rating in a research report on Tuesday, November 4th. B. Riley lifted their price objective on Fabrinet from $184.00 to $220.00 and gave the company a “neutral” rating in a research note on Tuesday, August 19th. Finally, JPMorgan Chase & Co. boosted their price objective on Fabrinet from $430.00 to $530.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 4th.

Insider Activity

In other news, EVP Edward T. Archer sold 3,333 shares of Fabrinet stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $354.48, for a total transaction of $1,181,481.84. Following the completion of the sale, the executive vice president directly owned 6,644 shares of the company’s stock, valued at approximately $2,355,165.12. The trade was a 33.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Harpal Gill sold 14,203 shares of the stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $355.15, for a total value of $5,044,195.45. Following the completion of the transaction, the chief operating officer directly owned 13,983 shares in the company, valued at $4,966,062.45. This trade represents a 50.39% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 43,487 shares of company stock worth $17,848,277. Insiders own 0.24% of the company’s stock.

Institutional Trading of Fabrinet

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of Fabrinet by 1.4% in the 3rd quarter. Vanguard Group Inc. now owns 4,135,345 shares of the technology company’s stock valued at $1,507,829,000 after acquiring an additional 59,002 shares during the last quarter. Wasatch Advisors LP increased its stake in Fabrinet by 45.1% in the second quarter. Wasatch Advisors LP now owns 1,779,665 shares of the technology company’s stock valued at $524,432,000 after purchasing an additional 553,196 shares during the last quarter. Geode Capital Management LLC raised its holdings in Fabrinet by 0.5% during the second quarter. Geode Capital Management LLC now owns 1,051,108 shares of the technology company’s stock worth $309,771,000 after purchasing an additional 5,114 shares in the last quarter. Invesco Ltd. raised its holdings in Fabrinet by 33.3% during the third quarter. Invesco Ltd. now owns 681,850 shares of the technology company’s stock worth $248,616,000 after purchasing an additional 170,297 shares in the last quarter. Finally, Westfield Capital Management Co. LP lifted its position in shares of Fabrinet by 102.8% during the 2nd quarter. Westfield Capital Management Co. LP now owns 663,310 shares of the technology company’s stock worth $195,464,000 after buying an additional 336,173 shares during the last quarter. 97.38% of the stock is owned by hedge funds and other institutional investors.

Fabrinet Stock Down 1.6%

Shares of FN opened at $442.35 on Friday. The company has a market cap of $15.85 billion, a P/E ratio of 45.56 and a beta of 1.05. Fabrinet has a fifty-two week low of $148.55 and a fifty-two week high of $498.00. The firm’s 50 day moving average price is $412.04 and its 200 day moving average price is $339.63.

About Fabrinet

Fabrinet provides optical packaging and precision optical, electro-mechanical, and electronic manufacturing services in North America, the Asia-Pacific, and Europe. The company offers a range of advanced optical and electro-mechanical capabilities in the manufacturing process, including process design and engineering, supply chain management, manufacturing, printed circuit board assembly, advanced packaging, integration, final assembly, and testing.