Fabrinet (NYSE:FN)‘s stock had its “buy” rating reiterated by research analysts at B. Riley in a report released on Friday. They presently have a $44.75 target price on the technology company’s stock. B. Riley’s target price indicates a potential upside of 10.38% from the stock’s previous close.

FN has been the subject of several other reports. ValuEngine cut shares of Fabrinet from a “buy” rating to a “hold” rating in a research note on Monday. Zacks Investment Research raised shares of Fabrinet from a “sell” rating to a “hold” rating in a research note on Wednesday, July 12th. Piper Jaffray Companies reaffirmed an “overweight” rating on shares of Fabrinet in a research note on Wednesday, May 10th. J P Morgan Chase & Co set a $57.00 price target on shares of Fabrinet and gave the stock a “buy” rating in a research note on Thursday, June 1st. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $48.00 price target on shares of Fabrinet in a research note on Friday, July 14th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $52.46.

Shares of Fabrinet (FN) opened at 40.54 on Friday. The firm has a market capitalization of $1.51 billion, a PE ratio of 17.04 and a beta of 1.08. The firm has a 50-day moving average of $43.72 and a 200-day moving average of $40.82. Fabrinet has a 1-year low of $31.97 and a 1-year high of $49.63.

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In other Fabrinet news, CEO David T. Mitchell sold 52,500 shares of the firm’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $41.22, for a total transaction of $2,164,050.00. Following the completion of the sale, the chief executive officer now owns 42,631 shares of the company’s stock, valued at approximately $1,757,249.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 4.30% of the company’s stock.

A number of large investors have recently made changes to their positions in the stock. Fenimore Asset Management boosted its position in Fabrinet by 0.4% in the fourth quarter. Fenimore Asset Management now owns 536,356 shares of the technology company’s stock valued at $12,776,000 after buying an additional 2,000 shares during the last quarter. Robeco Institutional Asset Management B.V. acquired a new position in Fabrinet during the fourth quarter worth about $2,019,000. EAM Investors LLC acquired a new position in Fabrinet during the fourth quarter worth about $1,007,000. New York State Common Retirement Fund boosted its position in Fabrinet by 2.7% in the fourth quarter. New York State Common Retirement Fund now owns 71,953 shares of the technology company’s stock worth $1,714,000 after buying an additional 1,900 shares in the last quarter. Finally, Timpani Capital Management LLC acquired a new position in Fabrinet during the fourth quarter worth about $3,058,000. 95.10% of the stock is owned by institutional investors and hedge funds.

Fabrinet Company Profile

Fabrinet provides optical packaging and precision optical, electro-mechanical and electronic manufacturing services to original equipment manufacturers (OEMs) of products, such as optical communication components, modules and sub-systems, industrial lasers, medical devices and sensors. The Company offers a range of optical and electro-mechanical capabilities across the manufacturing process, including process design and engineering, supply chain management, manufacturing, complex printed circuit board assembly, advanced packaging, integration, final assembly and test.

Analyst Recommendations for Fabrinet (NYSE:FN)

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