Fabrinet (NYSE:FN – Free Report) had its price objective increased by JPMorgan Chase & Co. from $230.00 to $240.00 in a report issued on Monday, Benzinga reports. The brokerage currently has a neutral rating on the technology company’s stock.
Other equities analysts have also issued reports about the stock. B. Riley cut their price objective on shares of Fabrinet from $173.00 to $171.00 and set a neutral rating on the stock in a report on Tuesday, May 7th. Needham & Company LLC reissued a buy rating and issued a $220.00 price target on shares of Fabrinet in a research note on Tuesday, May 7th. Finally, Jefferies Financial Group started coverage on Fabrinet in a research note on Wednesday, June 26th. They set a hold rating and a $230.00 price objective for the company. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $171.78.
Get Our Latest Research Report on Fabrinet
Fabrinet Trading Up 5.8 %
Insider Buying and Selling at Fabrinet
In related news, Director Frank H. Levinson sold 6,000 shares of the business’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $241.71, for a total value of $1,450,260.00. Following the completion of the transaction, the director now directly owns 5,709 shares in the company, valued at approximately $1,379,922.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.51% of the company’s stock.
Institutional Investors Weigh In On Fabrinet
Several institutional investors have recently added to or reduced their stakes in FN. Opal Wealth Advisors LLC acquired a new stake in shares of Fabrinet in the 2nd quarter valued at about $28,000. GAMMA Investing LLC bought a new position in shares of Fabrinet during the fourth quarter worth about $34,000. Banque Cantonale Vaudoise bought a new position in shares of Fabrinet during the second quarter worth about $35,000. Parallel Advisors LLC raised its position in Fabrinet by 59.7% in the 4th quarter. Parallel Advisors LLC now owns 206 shares of the technology company’s stock valued at $39,000 after buying an additional 77 shares during the last quarter. Finally, UMB Bank n.a. bought a new stake in Fabrinet in the 1st quarter valued at approximately $57,000. 97.38% of the stock is owned by institutional investors.
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.
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