Fabrinet (NYSE:FN) Receives $474.63 Consensus PT from Brokerages

Shares of Fabrinet (NYSE:FN) have earned a consensus rating of “Moderate Buy” from the ten research firms that are presently covering the company, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $474.6250.

FN has been the topic of several research reports. Susquehanna started coverage on shares of Fabrinet in a research report on Monday, December 15th. They issued a “positive” rating and a $550.00 price target on the stock. Zacks Research downgraded Fabrinet from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. Needham & Company LLC upped their price target on Fabrinet from $440.00 to $540.00 and gave the company a “buy” rating in a research report on Tuesday, November 4th. Northland Securities set a $600.00 price objective on Fabrinet in a research report on Monday, December 22nd. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Fabrinet in a report on Monday, December 29th.

Insider Activity at Fabrinet

In other Fabrinet news, CEO Seamus Grady sold 22,451 shares of the company’s stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of $446.95, for a total value of $10,034,474.45. Following the transaction, the chief executive officer directly owned 23,573 shares of the company’s stock, valued at $10,535,952.35. This represents a 48.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Thomas F. Kelly sold 2,200 shares of Fabrinet stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $464.14, for a total value of $1,021,108.00. Following the sale, the director owned 18,789 shares of the company’s stock, valued at approximately $8,720,726.46. This represents a 10.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 28,151 shares of company stock valued at $12,643,707. Corporate insiders own 0.24% of the company’s stock.

Hedge Funds Weigh In On Fabrinet

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Maseco LLP acquired a new stake in shares of Fabrinet in the second quarter worth about $25,000. Westend Capital Management LLC bought a new stake in Fabrinet during the fourth quarter worth approximately $29,000. Root Financial Partners LLC acquired a new position in Fabrinet during the third quarter valued at approximately $34,000. Elevation Point Wealth Partners LLC bought a new position in shares of Fabrinet in the second quarter valued at approximately $35,000. Finally, First Horizon Advisors Inc. lifted its stake in shares of Fabrinet by 124.2% in the second quarter. First Horizon Advisors Inc. now owns 139 shares of the technology company’s stock worth $41,000 after buying an additional 77 shares during the last quarter. Institutional investors own 97.38% of the company’s stock.

Fabrinet Stock Up 1.3%

Shares of NYSE FN opened at $488.88 on Friday. The stock has a market cap of $17.52 billion, a P/E ratio of 50.35 and a beta of 1.04. The firm’s 50-day simple moving average is $460.48 and its 200 day simple moving average is $394.55. Fabrinet has a fifty-two week low of $148.55 and a fifty-two week high of $531.22.

Fabrinet Company Profile

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.