Shares of Fabrinet (NYSE:FN – Get Rating) have earned an average recommendation of “Moderate Buy” from the eight analysts that are currently covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month target price among brokers that have covered the stock in the last year is $122.57.
Several equities analysts have recently issued reports on FN shares. Lake Street Capital assumed coverage on Fabrinet in a research report on Friday, April 21st. They issued a “buy” rating and a $130.00 price target for the company. Royal Bank of Canada raised their price target on Fabrinet from $39.00 to $40.00 and gave the stock a “sector perform” rating in a research note on Wednesday, March 1st. JPMorgan Chase & Co. dropped their target price on Fabrinet from $161.00 to $130.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 19th. Northland Securities dropped their price target on shares of Fabrinet from $155.00 to $135.00 in a research note on Tuesday, May 9th. Finally, StockNews.com began coverage on Fabrinet in a research report on Thursday, May 18th. They set a “hold” rating on the stock.
Fabrinet Price Performance
Shares of FN opened at $113.02 on Monday. Fabrinet has a one year low of $74.57 and a one year high of $140.18. The firm has a market capitalization of $4.10 billion, a PE ratio of 17.18 and a beta of 1.13. The company has a 50-day simple moving average of $101.13 and a two-hundred day simple moving average of $117.21.
Insider Buying and Selling at Fabrinet
In other Fabrinet news, Director Homa Bahrami sold 1,400 shares of the company’s stock in a transaction that occurred on Wednesday, May 24th. The stock was sold at an average price of $98.05, for a total transaction of $137,270.00. Following the sale, the director now directly owns 32,739 shares in the company, valued at $3,210,058.95. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.50% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Several institutional investors have recently bought and sold shares of FN. Belpointe Asset Management LLC acquired a new stake in Fabrinet in the fourth quarter worth about $236,000. Bank of Montreal Can raised its holdings in shares of Fabrinet by 20.3% in the fourth quarter. Bank of Montreal Can now owns 5,758 shares of the technology company’s stock worth $753,000 after buying an additional 972 shares during the last quarter. Congress Asset Management Co. MA acquired a new stake in shares of Fabrinet during the fourth quarter worth $2,506,000. Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Fabrinet during the fourth quarter valued at $202,000. Finally, California Public Employees Retirement System acquired a new position in shares of Fabrinet in the 3rd quarter valued at $1,445,000. 97.13% of the stock is currently owned by hedge funds and other institutional investors.
About Fabrinet
Fabrinet engages in the provision of optical packaging and electronic manufacturing services to original equipment manufacturers. The firm’s engineering services include process design, failure analysis, reliability testing, tooling design, and real-time traceability system. Its manufacturing operations offer sensors, subsystems, customized optics, and optical modules and components.