Fabrinet (NYSE:FN) Rating Reaffirmed
New York: In a recent report sent to investors and clients on Wednesday, 16 December, Needham has reaffirmed their “Buy” rating on Fabrinet (NYSE:FN) shares. They now have a $28.0 target PPS on the company. Needham’s target may mean a potential upside of 28.15% from the company’s close price.
From a total of 6 analysts covering Fabrinet (NYSE:FN) stock, 6 rate it a ”Buy”, 0 a “Sell”, and 0 a ”Hold”. This means that 100% of the ratings are positive. The highest target price is $27.5 while the lowest target price is $25. The mean of all analyst targets is $26.17 with a 19.91% above today’s ($21.85) stock price. Fabrinet was the topic of 8 analyst reports since August 14, 2015 according to the firm StockzIntelligence Inc. B. Riley & Co maintained shares on November 3 with “Buy” rating. Stifel Nicolaus maintained FN stock in a recent report from November 3 with “Buy” rating.
The stock increased 1.06% or $0.23 during the last trading session, striking $21.85. Approximately shares of stock traded hands. Fabrinet (NYSE:FN) has risen 18.69% since May 13, 2015 and is uptrending. It has outperformed by 21.31% the S&P500.
The overall sentiment of institutions has increased to 2.06 in Q2 2015. Its up 0.71, from 1.35 in 2015Q2. The ratio increased, as 15 institutions have sold all the shares of Fabrinet that they owned while 32 funds have taken shares off the table. 30 funds have purchased shares for the first time while 67 added to their positions. These institutions now hold 40.59 million shares or 29.70% more than the 31.29 million shares they owned in 2015Q2.
The Fund Intrepid Capital Management Inc currently is holding shares equating to 2.61% of its total portfolio in Fabrinet representing a total of 409,027 shares. Another fund,Quentec Asset Management Llc, is holding a total of 768,120 shares equating to 2.42% of their holdings. Additionally, Paradigm Capital Management Inc Ny has a 871,100 share stake in Fabrinet which represents 1.94% of their total portfolio. The Fund, Irving Magee Investment Management, based out of Pennsylvania, has also built up a stake in the stock, which represents a total of 1.81% of their total portfolio. Finally Thomson Horstmann & Bryant Inc, a fund which is based in the state of Connecticut reported a total holdings of 770,015 shares.
Insider activity is a very important aspect to track on any stock. Going back to April 2, 2015, shareholders of Fabrinet have witnessed 0 buys, and a total of 6 selling transactions equating to a net activity of approximately $5.74 million . Mitchell David T. sold 118,800 shares worth approximately $2.38M. Gill Harpal sold 6,959 shares worth approximately $139,180. Marchetti John sold 20,519 shares worth approximately $392,631.
Fabrinet provides optical packaging and precision optical, electro-mechanical and electronic manufacturing services to original equipment manufacturers of complex products, such as optical communication components, modules and sub-systems, industrial lasers, medical devices and sensors. The company has a market cap of $773.65 million. The Firm offers a range of optical and electro-mechanical capabilities across the entire manufacturing process, including process design and engineering, supply chain management, manufacturing, complex printed circuit board assembly, advanced packaging, integration, final assembly and test. It has 23.09 P/E ratio. The Firm focuses primarily on the production of low-volume, high-mix products.
According to Zacks Investment Research, “Fabrinet provides precision optical, electro-mechanical and electronic manufacturing services to original equipment manufacturers of complex products, such as optical communication components, modules and sub-systems, industrial lasers and sensors. The Company offers a broad range of advanced optical capabilities across the entire manufacturing process, including process engineering, design for manufacturability, supply chain management, manufacturing, final assembly and test. Fabrinet manufactures, assembles, and tests products for customers at its main manufacturing facilities in Bangkok, Thailand. The Company designs and manufactures its own bulk optical materials and components at its facilities in Fuzhou, the People’s Republic of China, and New Jersey, USA.”