Thursday was when investment professionals at StockNews.com informed investors that they would start covering Fabrinet.
The note was sent out as an email (NYSE: FN).
The company has given the technology company’s stock a “buy” recommendation, which the company issued.
On Thursday, the NYSE FN began trading for $113.44 per share. Over the last year, the price of Fabrinet reached an all-time low of $74.57 and an all-time high of $140.18.
Because the company’s stock has a price-to-earnings ratio of 17.92 and a beta value of 1.17, the company’s market capitalization is equal to $4.15 billion.
The average price for the company over the past 50 days is $126.96, and the average price over the last 200 days is $118.71.
The simple moving average is calculated using the price.
Many recent scientific experiments have focused primarily on FN as their subject matter. JPMorgan Chase & Co shifted their rating for Fabrinet from “neutral” to “overweight” and raised their price objective for the stock from $126,000.00 to $156,000.00 in a research note published on Tuesday, December 20th. Northland Securities increased their price objective for Fabrinet in a research note published on Tuesday, February 7th.
The new price objective is $155.00, up from the previous price objective of $132.50.
The analyst firm also gave the company an “outperform” rating.
In a report published on March 1st, the Royal Bank of Canada upgraded Fabrinet to a “sector performed” rating and increased their price objective on the stock from $39.00 to $40.00.
Additionally, they raised their price target on the stock from $39.00 to $40.00.
B. Riley raised their price target on Fabrinet’s stock from $110.00 to $115.00 and upgraded it from a “neutral” rating to an “overweight” rating in a research report published on February 7th. Needham & Company LLC, in a research note dated February 7th, reaffirmed a “buy” rating on shares of Fabrinet and raised their target price on the company’s stock from $140.00 to $150.00. Needham & Company LLC also raised their target price on its stock from $120.00 to $125.00.
The stock research specialists have suggested to the company five times that they believe the company should buy the stock, while they have only suggested twice that the company should hold onto the stock.
The consensus among investors is that the stock should have a price target of $129 per share, and Bloomberg.com reports that the average rating for the company is currently “Moderate Buy.”
In other news, on February 14th, company director Rolland E. Olson made a transaction to sell 5,000 of the company’s shares of stock.
A total of $631,650.00 was received for the sale of the shares, totaling an average price of $126.33.
As a result of the sale, the director’s holdings in the company have increased to 34,699 shares, and the combined value of these shares is now $4,383,524.67.
The transaction was made public through a filing that was made with the SEC, which can be located on the website of the SEC. Corporate insiders currently hold personal accounts with a total value of 0.50% of the company’s stock.
Several hedge funds and institutional investors have recently modified how they hold their FN shares.
These investors include both individual investors and large investment firms.
During the first three months of the year, the Bank of Montreal Can increase the amount of Fabrinet stock owned by 9.7%, bringing its total ownership to 100%.
Bank of Montreal has 11,292 shares in the technology company, currently valued at $1,217,000, following the purchase of an additional 998 shares during the most recent quarter. Rhumbline Advisers increased the proportion of Fabrinet stock owned by 6.6% over the first three months of 2018. Rhumbline Advisers increased its holdings in the technology company’s stock by 5,603 shares over the most recent quarter.
This brought the total value of its holdings to 90,911 shares, equal to $9,557,000.
Rhumbline Advisers is an investment advisory firm.
During the first three months of 2018, BlackRock INC increased the amount of Fabrinet stock owned by 0.4%, bringing the total to 1.1%.
The value of BlackRock INC’s total stock holdings has increased to $588,146,000 due to the company’s purchase of an additional 24,058 shares during the preceding quarter.
BlackRock INC is a company that specializes in technology.
During the first quarter, Yousif Capital Management LLC increased the amount of Fabrinet stock owned by 1.1%, bringing its total ownership to 100%. Yousif Capital Management LLC now holds 34,565 shares of the technology company’s stock, following the acquisition of an additional 365 shares during the most recent quarter.
Each share of the company’s stock is currently valued at $3,634,000.
As a final point of interest, during the first three months of the year, Vanguard Group INC increased the amount of Fabrinet stock owned by 0.7%, bringing the total to 1.1%.
After making additional purchases totaling 30,481 stock units during the most recent fiscal quarter, Vanguard Group INC now owns 4,173,594 shares held by the technology company.
These shares have a total value of $438,700,000 as a whole. Currently, institutions own 97.13 percent of the equity in the company.
Fabrinet can assist original equipment manufacturers thanks to the company’s capabilities in optical packaging and electronic manufacturing.
The business offers many different kinds of engineering services, some examples of which are as follows: process design, failure analysis, reliability testing, tooling design, and a real-time traceability system.
All of these things, including sensors, subsystems, specialty optics, optical modules, and components, are easily accessible as a result of the production operations that the company carries out.