Fabrinet (NYSE:FN – Get Rating) has earned an average rating of “Buy” from the ten analysts that are currently covering the stock, MarketBeat reports. Four research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month target price among brokers that have covered the stock in the last year is $109.25.
A number of equities research analysts have weighed in on the company. JPMorgan Chase & Co. lifted their target price on Fabrinet from $115.00 to $125.00 and gave the stock a “neutral” rating in a report on Thursday, January 20th. Zacks Investment Research raised Fabrinet from a “hold” rating to a “buy” rating and set a $108.00 price objective for the company in a research note on Tuesday, April 19th. Loop Capital started coverage on Fabrinet in a research note on Monday, April 25th. They issued a “buy” rating and a $129.00 price objective for the company. StockNews.com cut Fabrinet from a “buy” rating to a “hold” rating in a research note on Monday, May 9th. Finally, B. Riley reduced their price objective on Fabrinet from $100.00 to $96.00 in a research note on Tuesday, May 3rd.
Shares of FN stock opened at $90.74 on Friday. The company has a market cap of $3.34 billion, a P/E ratio of 18.22 and a beta of 0.93. The stock has a 50 day simple moving average of $98.78 and a two-hundred day simple moving average of $106.97. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.02 and a current ratio of 2.92. Fabrinet has a fifty-two week low of $79.00 and a fifty-two week high of $126.28.
In related news, EVP Edward T. Archer sold 2,146 shares of Fabrinet stock in a transaction that occurred on Tuesday, March 1st. The stock was sold at an average price of $98.73, for a total transaction of $211,874.58. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.42% of the stock is owned by insiders.
Large investors have recently modified their holdings of the stock. Morgan Stanley boosted its holdings in shares of Fabrinet by 63.7% in the 2nd quarter. Morgan Stanley now owns 159,568 shares of the technology company’s stock worth $15,298,000 after buying an additional 62,074 shares during the last quarter. Advisor Group Holdings Inc. boosted its holdings in shares of Fabrinet by 27.5% in the 3rd quarter. Advisor Group Holdings Inc. now owns 7,605 shares of the technology company’s stock worth $779,000 after buying an additional 1,640 shares during the last quarter. Truist Financial Corp purchased a new position in shares of Fabrinet in the 3rd quarter worth about $1,010,000. Russell Investments Group Ltd. boosted its holdings in shares of Fabrinet by 18.5% in the 3rd quarter. Russell Investments Group Ltd. now owns 57,675 shares of the technology company’s stock worth $5,910,000 after buying an additional 9,021 shares during the last quarter. Finally, Swiss National Bank boosted its holdings in shares of Fabrinet by 0.4% in the 3rd quarter. Swiss National Bank now owns 81,540 shares of the technology company’s stock worth $8,359,000 after buying an additional 300 shares during the last quarter. 95.89% of the stock is currently owned by institutional investors.
About Fabrinet (Get Rating)
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.
- Get a free copy of the StockNews.com research report on Fabrinet (FN)
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