Fabrinet (NYSE:FN) had its price target increased by equities researchers at Needham & Company LLC from $62.00 to $68.00 in a research report issued to clients and investors on Monday, May 6th, MarketBeat Ratings reports. The firm presently has a “buy” rating on the technology company’s stock. Needham & Company LLC’s price target would suggest a potential upside of 55.43% from the stock’s current price.
Other research analysts also recently issued reports about the stock. ValuEngine upgraded shares of Fabrinet from a “hold” rating to a “buy” rating in a report on Saturday, April 13th. Zacks Investment Research upgraded shares of Fabrinet from a “hold” rating to a “buy” rating and set a $63.00 price target for the company in a report on Friday, January 11th. Finally, Piper Jaffray Companies upped their price target on shares of Fabrinet from $63.00 to $67.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $57.50.
FN traded up $0.44 during trading on Monday, hitting $43.75. 270,092 shares of the stock traded hands, compared to its average volume of 524,862. Fabrinet has a twelve month low of $34.27 and a twelve month high of $62.31. The company has a market cap of $1.60 billion, a P/E ratio of 14.68, a P/E/G ratio of 1.03 and a beta of 0.63. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.23 and a quick ratio of 2.30.
In related news, Director David T. Mitchell sold 30,000 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $52.57, for a total value of $1,577,100.00. Following the sale, the director now owns 73,748 shares of the company’s stock, valued at $3,876,932.36. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In the last three months, insiders sold 90,000 shares of company stock worth $5,095,500. 1.90% of the stock is currently owned by insiders.
Several institutional investors have recently modified their holdings of the stock. Magnus Financial Group LLC boosted its position in Fabrinet by 4.8% during the first quarter. Magnus Financial Group LLC now owns 4,356 shares of the technology company’s stock valued at $228,000 after acquiring an additional 200 shares during the last quarter. Meeder Asset Management Inc. boosted its position in shares of Fabrinet by 3.0% during the 1st quarter. Meeder Asset Management Inc. now owns 7,665 shares of the technology company’s stock worth $401,000 after purchasing an additional 221 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its position in shares of Fabrinet by 1.8% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 14,266 shares of the technology company’s stock worth $747,000 after purchasing an additional 258 shares in the last quarter. Campbell Newman Asset Management Inc. boosted its position in shares of Fabrinet by 2.5% during the 1st quarter. Campbell Newman Asset Management Inc. now owns 13,444 shares of the technology company’s stock worth $704,000 after purchasing an additional 325 shares in the last quarter. Finally, Advisors Asset Management Inc. boosted its position in shares of Fabrinet by 11.8% during the 1st quarter. Advisors Asset Management Inc. now owns 3,209 shares of the technology company’s stock worth $168,000 after purchasing an additional 338 shares in the last quarter. 94.37% of the stock is currently owned by institutional investors.
Fabrinet provides optical packaging and precision optical, electro-mechanical, and electronic manufacturing services in North America, the Asia-Pacific, and Europe. The company offers a range of optical and electro-mechanical capabilities in the manufacturing process, including process design and engineering, supply chain management, manufacturing, printed circuit board assembly, packaging, integration, final assembly, and test.
Further Reading: How Investors Can Profit from Options Trading
Receive News & Ratings for Fabrinet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fabrinet and related companies with MarketBeat.com's FREE daily email newsletter.