Fabrinet (NYSE:FN) Now Covered by Susquehanna

Susquehanna began coverage on shares of Fabrinet (NYSE:FN) in a research report released on Monday morning, MarketBeat.com reports. The firm issued a positive rating and a $550.00 target price on the technology company’s stock.

A number of other research firms also recently weighed in on FN. Northland Securities set a $550.00 target price on shares of Fabrinet 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. Needham & Company LLC increased their target price on Fabrinet from $440.00 to $540.00 and gave the stock a “buy” rating in a research note on Tuesday, November 4th. JPMorgan Chase & Co. upped their price target on shares of Fabrinet from $430.00 to $530.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 4th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Fabrinet in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $463.63.

Fabrinet Stock Down 4.0%

Shares of Fabrinet stock opened at $451.20 on Monday. The company’s fifty day simple moving average is $435.19 and its two-hundred day simple moving average is $357.35. The firm has a market cap of $16.17 billion, a PE ratio of 46.47 and a beta of 1.05. Fabrinet has a 12-month low of $148.55 and a 12-month high of $531.22.

Insider Buying and Selling at Fabrinet

In related news, CEO Seamus Grady sold 22,451 shares of Fabrinet stock in a transaction on Wednesday, November 26th. The shares were sold at an average price of $446.95, for a total transaction of $10,034,474.45. Following the transaction, the chief executive officer owned 23,573 shares in the company, valued at approximately $10,535,952.35. The trade was a 48.78% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Homa Bahrami sold 3,500 shares of the stock in a transaction on Monday, December 1st. The stock was sold at an average price of $453.75, for a total value of $1,588,125.00. Following the completion of the sale, the director owned 18,316 shares of the company’s stock, valued at $8,310,885. The trade was a 16.04% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 28,151 shares of company stock valued at $12,643,707 over the last 90 days. 0.24% of the stock is currently owned by corporate insiders.

Institutional Trading of Fabrinet

Several institutional investors have recently made changes to their positions in FN. Vanguard Group Inc. grew its holdings in Fabrinet by 1.4% during 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 buying an additional 59,002 shares in the last quarter. Wasatch Advisors LP increased its holdings in Fabrinet by 45.1% in the 2nd quarter. Wasatch Advisors LP now owns 1,779,665 shares of the technology company’s stock valued at $524,432,000 after acquiring an additional 553,196 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Fabrinet by 0.5% during the 2nd quarter. Geode Capital Management LLC now owns 1,051,108 shares of the technology company’s stock valued at $309,771,000 after purchasing an additional 5,114 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Fabrinet by 33.3% during the 3rd quarter. Invesco Ltd. now owns 681,850 shares of the technology company’s stock worth $248,616,000 after acquiring an additional 170,297 shares in the last quarter. Finally, Westfield Capital Management Co. LP boosted 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 valued at $195,464,000 after acquiring an additional 336,173 shares during the last quarter. Hedge funds and other institutional investors own 97.38% of the company’s stock.

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.