Fabrinet (NYSE:FN) PT Raised to $240.00

Fabrinet (NYSE:FN) had its price objective boosted by JPMorgan Chase & Co. from $230.00 to $240.00 in a research report sent to investors on Monday morning, Benzinga reports. The brokerage currently has a neutral rating on the technology company’s stock.

A number of other equities analysts have also recently issued reports on the company. Jefferies Financial Group initiated coverage on Fabrinet in a report on Wednesday, June 26th. They set a hold rating and a $230.00 price target on the stock. B. Riley cut their price target on Fabrinet from $173.00 to $171.00 and set a neutral rating on the stock in a report on Tuesday, May 7th. Finally, Needham & Company LLC restated a buy rating and set a $220.00 price target on shares of Fabrinet in a report on Tuesday, May 7th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $171.78.

Fabrinet Stock Performance

NYSE:FN opened at $217.77 on Monday. The company has a market capitalization of $7.87 billion, a PE ratio of 28.92 and a beta of 0.96. The company has a 50 day simple moving average of $233.33 and a two-hundred day simple moving average of $213.57. Fabrinet has a fifty-two week low of $114.83 and a fifty-two week high of $266.39.

Insiders Place Their Bets

In related news, Director Frank H. Levinson sold 6,000 shares of the company’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $241.71, for a total transaction of $1,450,260.00. Following the completion of the sale, the director now owns 5,709 shares in the company, valued at $1,379,922.39. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.51% of the company’s stock.

Institutional Trading of Fabrinet

A number of large investors have recently added to or reduced their stakes in the company. Congress Asset Management Co. MA purchased a new position in Fabrinet during the 4th quarter valued at $99,045,000. TD Asset Management Inc increased its position in Fabrinet by 216.1% during the 1st quarter. TD Asset Management Inc now owns 409,761 shares of the technology company’s stock valued at $77,453,000 after buying an additional 280,145 shares in the last quarter. Epoch Investment Partners Inc. increased its position in Fabrinet by 291.0% during the 1st quarter. Epoch Investment Partners Inc. now owns 275,531 shares of the technology company’s stock valued at $52,081,000 after buying an additional 205,057 shares in the last quarter. Kennedy Capital Management LLC purchased a new stake in Fabrinet during the 1st quarter valued at about $15,637,000. Finally, Rice Hall James & Associates LLC grew its stake in Fabrinet by 89.1% during the 2nd quarter. Rice Hall James & Associates LLC now owns 134,519 shares of the technology company’s stock valued at $32,929,000 after purchasing an additional 63,398 shares during the last quarter. Institutional investors own 97.38% of the company’s stock.

About Fabrinet

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 advanced optical and electro-mechanical capabilities in the manufacturing process, including process design and engineering, supply chain management, manufacturing, printed circuit board assembly, advanced packaging, integration, final assembly, and testing.