Fabrinet (NYSE:FN) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Fabrinet (NYSE:FN) have been assigned a consensus rating of “Moderate Buy” from the ten ratings firms that are presently covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $469.8750.

A number of equities research analysts have weighed in on FN shares. Barclays raised their target price on Fabrinet from $329.00 to $499.00 and gave the company an “equal weight” rating in a report on Wednesday, November 5th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Fabrinet in a research report on Monday, December 15th. Zacks Research raised Fabrinet from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 23rd. Northland Securities set a $600.00 target price on shares of Fabrinet in a report on Monday. Finally, Needham & Company LLC lifted their price target on shares of Fabrinet from $440.00 to $540.00 and gave the company a “buy” rating in a report on Tuesday, November 4th.

Insiders Place Their Bets

In other news, CEO Seamus Grady sold 22,451 shares of the company’s stock in a transaction on Wednesday, November 26th. The shares were sold at an average price of $446.95, for a total transaction of $10,034,474.45. Following the completion of the transaction, the chief executive officer directly owned 23,573 shares in the company, valued at approximately $10,535,952.35. This represents a 48.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Thomas F. Kelly sold 2,200 shares of the company’s stock in a transaction 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 $8,720,726.46. This trade represents a 10.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, 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

Several large investors have recently bought and sold shares of FN. Vanguard Group Inc. increased its holdings in shares of Fabrinet by 1.4% during the third quarter. Vanguard Group Inc. now owns 4,135,345 shares of the technology company’s stock valued at $1,507,829,000 after acquiring an additional 59,002 shares in the last quarter. Wasatch Advisors LP grew its position in Fabrinet by 45.1% during the 2nd quarter. Wasatch Advisors LP now owns 1,779,665 shares of the technology company’s stock worth $524,432,000 after purchasing an additional 553,196 shares during the last quarter. Geode Capital Management LLC increased its stake in Fabrinet by 0.5% during the 2nd quarter. Geode Capital Management LLC now owns 1,051,108 shares of the technology company’s stock valued at $309,771,000 after purchasing an additional 5,114 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Fabrinet by 33.3% in the third quarter. Invesco Ltd. now owns 681,850 shares of the technology company’s stock worth $248,616,000 after buying an additional 170,297 shares during the last quarter. Finally, Westfield Capital Management Co. LP lifted its stake in shares of Fabrinet by 102.8% during the second quarter. Westfield Capital Management Co. LP now owns 663,310 shares of the technology company’s stock worth $195,464,000 after buying an additional 336,173 shares during the period. 97.38% of the stock is currently owned by institutional investors.

Fabrinet Trading Up 1.7%

NYSE FN opened at $483.35 on Tuesday. The firm’s 50 day simple moving average is $441.72 and its 200 day simple moving average is $363.60. The firm has a market capitalization of $17.32 billion, a price-to-earnings ratio of 49.78 and a beta of 1.05. Fabrinet has a 1 year low of $148.55 and a 1 year high of $531.22.

Fabrinet Company Profile

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.