Fabrinet (NYSE:FN) Hits New 52-Week High at $244.46

Fabrinet (NYSE:FN) shares hit a new 52-week high during trading on Thursday . The company traded as high as $244.46 and last traded at $244.09, with a volume of 54498 shares trading hands. The stock had previously closed at $234.22.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on FN. Rosenblatt Securities restated a “buy” rating and set a $230.00 price objective on shares of Fabrinet in a research note on Tuesday, February 6th. Needham & Company LLC restated a “buy” rating and set a $220.00 price objective on shares of Fabrinet in a research note on Tuesday, May 7th. JPMorgan Chase & Co. lifted their price objective on shares of Fabrinet from $210.00 to $212.00 and gave the company a “neutral” rating in a research note on Thursday, April 11th. Northland Securities upgraded shares of Fabrinet from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $200.00 to $220.00 in a research note on Thursday, March 21st. Finally, B. Riley dropped their price target on shares of Fabrinet from $173.00 to $171.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 7th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $161.00.

Fabrinet Stock Performance

The company has a 50 day simple moving average of $192.92 and a two-hundred day simple moving average of $190.96. The company has a market cap of $8.89 billion, a PE ratio of 31.14 and a beta of 1.04.

Institutional Investors Weigh In On Fabrinet

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Fabrinet by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 4,333,317 shares of the technology company’s stock worth $722,017,000 after purchasing an additional 16,228 shares during the last quarter. Advisors Asset Management Inc. lifted its holdings in shares of Fabrinet by 3.0% during the third quarter. Advisors Asset Management Inc. now owns 7,265 shares of the technology company’s stock worth $1,210,000 after buying an additional 211 shares during the last quarter. Redwood Investments LLC acquired a new position in shares of Fabrinet during the fourth quarter worth approximately $3,478,000. Wellington Management Group LLP lifted its holdings in shares of Fabrinet by 21.3% during the third quarter. Wellington Management Group LLP now owns 904,505 shares of the technology company’s stock worth $150,709,000 after buying an additional 159,037 shares during the last quarter. Finally, Sei Investments Co. lifted its holdings in shares of Fabrinet by 16.8% during the third quarter. Sei Investments Co. now owns 90,345 shares of the technology company’s stock worth $15,053,000 after buying an additional 13,022 shares during the last quarter. Institutional investors own 97.38% of the company’s stock.

Fabrinet Company Profile

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.