Fabrinet (NYSE:FN) Research Coverage Started at Susquehanna

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

FN has been the topic of a number of other research reports. Needham & Company LLC raised their price target on shares of Fabrinet from $440.00 to $540.00 and gave the stock a “buy” rating in a report on Tuesday, November 4th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Fabrinet in a research report on Monday. B. Riley boosted their price target on Fabrinet from $184.00 to $220.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 19th. Barclays boosted their target price on shares of Fabrinet from $329.00 to $499.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 5th. Finally, JPMorgan Chase & Co. lifted 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. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $463.63.

Fabrinet Stock Down 5.5%

Shares of FN stock opened at $426.45 on Monday. The business has a 50-day moving average price of $436.04 and a two-hundred day moving average price of $357.83. The firm has a market cap of $15.28 billion, a P/E ratio of 43.92 and a beta of 1.05. Fabrinet has a 12-month low of $148.55 and a 12-month high of $531.22.

Insider Activity

In other news, Director Thomas F. Kelly sold 2,200 shares of the company’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 transaction 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 transaction was disclosed in a filing with the SEC, 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 in the company, valued at approximately $8,310,885. The trade was a 16.04% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 28,151 shares of company stock valued at $12,643,707. 0.24% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Fabrinet

Large investors have recently bought and sold shares of the business. Maseco LLP bought a new stake in shares of Fabrinet in the 2nd quarter valued at about $25,000. Root Financial Partners LLC acquired a new stake in Fabrinet during the third quarter worth about $34,000. Elevation Point Wealth Partners LLC acquired a new position in shares of Fabrinet in the 2nd quarter valued at $35,000. First Horizon Advisors Inc. grew its position in shares of Fabrinet by 124.2% during the 2nd quarter. First Horizon Advisors Inc. now owns 139 shares of the technology company’s stock valued at $41,000 after acquiring an additional 77 shares during the period. Finally, Cullen Frost Bankers Inc. increased its position in shares of Fabrinet by 118.5% in the second quarter. Cullen Frost Bankers Inc. now owns 142 shares of the technology company’s stock valued at $42,000 after buying an additional 77 shares in the last quarter. Institutional investors own 97.38% of the company’s stock.

Fabrinet Company Profile

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.