Fabrinet (NYSE:FN) Receives $469.88 Consensus Target Price from Brokerages

Shares of Fabrinet (NYSE:FN) have earned a consensus recommendation of “Moderate Buy” from the ten analysts that are presently covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $469.8750.

A number of analysts have recently weighed in on FN shares. Rosenblatt Securities increased their price target on Fabrinet from $425.00 to $550.00 and gave the stock a “buy” rating in a research report on Tuesday, November 4th. 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 note on Tuesday, November 4th. Northland Securities set a $600.00 target price on Fabrinet in a research report on Monday. JPMorgan Chase & Co. boosted their price target on shares of Fabrinet from $430.00 to $530.00 and gave the company an “overweight” rating in a report on Tuesday, November 4th. Finally, Susquehanna initiated coverage on shares of Fabrinet in a report on Monday, December 15th. They issued a “positive” rating and a $550.00 price objective on the stock.

Fabrinet Stock Down 0.3%

FN opened at $485.60 on Tuesday. The company’s 50-day moving average price is $447.14 and its 200 day moving average price is $367.05. Fabrinet has a fifty-two week low of $148.55 and a fifty-two week high of $531.22. The firm has a market cap of $17.40 billion, a price-to-earnings ratio of 50.01 and a beta of 1.05.

Insider Buying and Selling at Fabrinet

In other news, CEO Seamus Grady sold 22,451 shares of Fabrinet stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of $446.95, for a total transaction of $10,034,474.45. Following the sale, the chief executive officer owned 23,573 shares of the company’s stock, valued at approximately $10,535,952.35. The trade was a 48.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Thomas F. Kelly sold 2,200 shares of the business’s stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $464.14, for a total value of $1,021,108.00. Following the transaction, 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 90 days, insiders have sold 28,151 shares of company stock worth $12,643,707. 0.24% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of FN. Cullen Frost Bankers Inc. lifted its holdings in Fabrinet by 20.4% in the third quarter. Cullen Frost Bankers Inc. now owns 171 shares of the technology company’s stock worth $62,000 after purchasing an additional 29 shares during the period. Coldstream Capital Management Inc. raised its position in shares of Fabrinet by 3.2% during the 2nd quarter. Coldstream Capital Management Inc. now owns 998 shares of the technology company’s stock worth $294,000 after buying an additional 31 shares in the last quarter. Evergreen Capital Management LLC lifted its stake in shares of Fabrinet by 1.0% in the 2nd quarter. Evergreen Capital Management LLC now owns 3,032 shares of the technology company’s stock worth $893,000 after acquiring an additional 31 shares during the period. Stephens Inc. AR lifted its stake in shares of Fabrinet by 4.4% in the 3rd quarter. Stephens Inc. AR now owns 782 shares of the technology company’s stock worth $285,000 after acquiring an additional 33 shares during the period. Finally, Profund Advisors LLC boosted its holdings in shares of Fabrinet by 2.2% in the third quarter. Profund Advisors LLC now owns 1,505 shares of the technology company’s stock valued at $549,000 after acquiring an additional 33 shares in the last quarter. Institutional investors own 97.38% of the company’s stock.

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.