Analysts Set Fabrinet (NYSE:FN) Target Price at $469.88

Fabrinet (NYSE:FN) has been given an average recommendation of “Moderate Buy” by the ten research firms that are presently covering the firm, MarketBeat reports. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $469.8750.

FN has been the subject of a number of research reports. Weiss Ratings reissued a “buy (b-)” rating on shares of Fabrinet in a research report on Monday, December 22nd. Northland Securities set a $600.00 price objective on Fabrinet in a research report on Monday, December 22nd. Susquehanna began coverage on shares of Fabrinet in a research note on Monday, December 15th. They issued a “positive” rating and a $550.00 target price on the stock. Barclays upped their price target on Fabrinet from $329.00 to $499.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 5th. Finally, Needham & Company LLC raised their price objective on shares of Fabrinet from $440.00 to $540.00 and gave the stock a “buy” rating in a report on Tuesday, November 4th.

Fabrinet Trading Down 1.5%

FN stock opened at $471.22 on Tuesday. The company has a market capitalization of $16.88 billion, a price-to-earnings ratio of 48.53 and a beta of 1.05. Fabrinet has a 52 week low of $148.55 and a 52 week high of $531.22. The firm’s 50-day moving average is $449.76 and its two-hundred day moving average is $372.07.

Insider Activity at Fabrinet

In other news, CEO Seamus Grady sold 22,451 shares of the firm’s stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of $446.95, for a total transaction of $10,034,474.45. Following the sale, the chief executive officer owned 23,573 shares of the company’s stock, valued at $10,535,952.35. This trade represents a 48.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Thomas F. Kelly sold 2,200 shares of Fabrinet stock in a transaction that occurred on Thursday, December 4th. The shares were 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 directly owned 18,789 shares in the company, valued at approximately $8,720,726.46. The trade was a 10.48% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 28,151 shares of company stock worth $12,643,707 over the last ninety days. Company insiders own 0.24% of the company’s stock.

Institutional Investors Weigh In On Fabrinet

Several institutional investors and hedge funds have recently added to or reduced their stakes in FN. Maseco LLP acquired a new stake in Fabrinet in the second quarter valued at $25,000. Root Financial Partners LLC acquired a new stake in shares of Fabrinet in the third quarter valued at approximately $34,000. Elevation Point Wealth Partners LLC bought a new stake in shares of Fabrinet during the 2nd quarter valued at $35,000. First Horizon Advisors Inc. lifted its position in Fabrinet by 124.2% during the second quarter. First Horizon Advisors Inc. now owns 139 shares of the technology company’s stock worth $41,000 after purchasing an additional 77 shares during the period. Finally, Cullen Frost Bankers Inc. raised its position in shares of Fabrinet by 118.5% in the 2nd 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. 97.38% of the stock is owned by institutional investors.

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.