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

Shares of Fabrinet (NYSE:FN) have received an average recommendation of “Moderate Buy” from the ten analysts that are currently covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $474.6250.

Several equities analysts have issued reports on FN shares. Susquehanna started coverage on shares of Fabrinet in a research report on Monday, December 15th. They issued a “positive” rating and a $550.00 price target for the company. JPMorgan Chase & Co. boosted their price objective 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. Zacks Research downgraded Fabrinet from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Fabrinet in a research report on Monday, December 29th. Finally, Northland Securities set a $600.00 target price on Fabrinet in a report on Monday, December 22nd.

Insider Buying and Selling

In other Fabrinet news, Director Homa Bahrami sold 3,500 shares of the stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $453.75, for a total transaction of $1,588,125.00. Following the completion of the sale, the director owned 18,316 shares of the company’s stock, valued at approximately $8,310,885. This represents a 16.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Thomas F. Kelly sold 2,200 shares of the business’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 completion of the transaction, the director owned 18,789 shares in the company, valued at $8,720,726.46. This trade represents a 10.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 28,151 shares of company stock valued at $12,643,707 over the last ninety days. 0.24% of the stock is owned by company insiders.

Institutional Investors Weigh In On Fabrinet

Several large investors have recently modified their holdings of the company. Maseco LLP acquired a new position in Fabrinet in the second quarter valued at $25,000. Westend Capital Management LLC acquired a new stake in Fabrinet during the 4th quarter worth about $29,000. Root Financial Partners LLC acquired a new stake in Fabrinet during the 3rd quarter worth about $34,000. Elevation Point Wealth Partners LLC bought a new position in shares of Fabrinet in the 2nd quarter worth about $35,000. Finally, First Horizon Advisors Inc. lifted its stake in shares of Fabrinet by 124.2% in the 2nd quarter. First Horizon Advisors Inc. now owns 139 shares of the technology company’s stock valued at $41,000 after purchasing an additional 77 shares during the period. 97.38% of the stock is currently owned by institutional investors and hedge funds.

Fabrinet Trading Down 0.8%

NYSE:FN opened at $493.73 on Friday. The stock’s 50-day moving average is $458.43 and its 200-day moving average is $389.70. Fabrinet has a 1-year low of $148.55 and a 1-year high of $531.22. The stock has a market cap of $17.69 billion, a P/E ratio of 50.85 and a beta of 1.04.

About Fabrinet

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.