Fabrinet has been the focus of several analysts in recent months, with most giving the stock a positive rating. The company’s shares are traded on the NYSE under the ticker symbol FN. According to data from MarketBeat, Fabrinet currently has a consensus rating of “Moderate Buy,” with five analysts giving the stock a buy rating and two rating it as hold. The average target price for Fabrinet’s stock is $129.00. The company offers engineering services, including process design and reliability testing, and manufacturing operations that offer customized optics, optical modules and components, sensors, and subsystems. The company has a market cap of $4.06 billion, and its shares opened at $110.82 on Friday, trading up 0.3%. Finally, some institutional investors have either increased or decreased their stakes in Fabrinet, with BlackRock Inc., Vanguard Group Inc., and Capital International Investors among those who have increased their stakes.
First Hawaiian Bank Trims Stake in Fabrinet
First Hawaiian Bank has cut its stake in Fabrinet by 25.6% during the 4th quarter, according to its recent SEC Form 13F filing. The bank sold some of its shares in the technology company. Other institutional investors, on the other hand, have either increased or reduced their stakes in the company. For instance, BlackRock Inc. raised its stake in Fabrinet by 1.7% during the third quarter, and now owns 5,609,837 shares of the company’s stock valued at $535,459,000 after purchasing an additional 93,948 shares during the last quarter. Vanguard Group Inc. increased its stake in Fabrinet by 0.7% during the first quarter, Capital International Investors increased its stake by 108.1%, State Street Corp increased its stake by 1.2%, and Victory Capital Management Inc. raised its stake by 10.5% during the third quarter. Overall, institutional investors and hedge funds currently own 97.13% of Fabrinet’s stock.
Additionally, Fabrinet’s Director, Rollance E. Olson, sold 5,000 shares of the company’s stock at an average price of $126.33, for a total transaction of $631,650.00, on February 14th. Following the sale, Olson now owns 34,699 shares of Fabrinet’s stock, valued at $4,383,524.67. This sale was disclosed in a filing with the SEC and is available through the SEC website. Corporate insiders own 0.50% of the company’s stock.
Analyst Upgrades and Downgrades
There is no information available about any analyst upgrades or downgrades related to Fabrinet.
Analysts Weigh in on Fabrinet Stock
Fabrinet, a company that provides optical packaging and electronic manufacturing services, has recently received attention from several analysts. Northland Securities raised its target price on Fabrinet shares from $132.50 to $155.00 and gave the company an “outperform” rating in a research note published on February 7th. Similarly, Needham & Company LLC upped its price target on shares of Fabrinet from $140.00 to $150.00 and gave the stock a “buy” rating in a research report on the same day. B. Riley also upped its price target on Fabrinet shares from $110.00 to $115.00 and gave the stock a “neutral” rating. Royal Bank of Canada upped its price target on shares of Fabrinet from $39.00 to $40.00 and gave the stock a “sector perform” rating in a research report on March 1st. Lastly, StockNews.com initiated coverage on Fabrinet shares in a research report on March 16th and gave the company a “buy” rating.
Fabrinet’s shares, traded on the NYSE under the ticker symbol FN, opened at $110.82 on Friday, trading up 0.3%. The company has a 50-day moving average of $124.15 and a 200-day moving average of $119.13. Fabrinet has a market cap of $4.06 billion, a P/E ratio of 17.51, and a beta of 1.17. Its 52-week high is $140.18, and its 52-week low is $74.57.
Fabrinet offers engineering services that include process design, failure analysis, reliability testing, tooling design, and real-time traceability systems. The company’s manufacturing operations offer customized optics, optical modules and components, sensors, and subsystems.
According to data from MarketBeat, Fabrinet currently has a consensus rating of “Moderate Buy,” with five analysts giving the stock a buy rating and two rating it as hold. The average target price for Fabrinet’s stock is $129.00.
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