.png "Fabrinet (NYSE: FN)")
After B.Riley FBR and Piper Jaffray gave Fabrinet (NYSE: FN) a Buy rating last month, the company received another Buy, this time from Needham. Analyst Alex Henderson maintained a Buy rating on Fabrinet today and set a price target of $58. The company’s shares closed yesterday at $46.20, close to its 52-week high of $48.97.
According to TipRanks.com, Henderson is a 5-star analyst with an average return of 14.3% and a 55.0% success rate. Henderson covers the Consumer Goods sector, focusing on stocks such as Acacia Communications, Lumentum Holdings, and Ceragon Networks.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Fabrinet with a $53.50 average price target, which is a 15.8% upside from current levels. In a report issued on August 21, B.Riley FBR also maintained a Buy rating on the stock with a $52 price target.
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Fabrinet’s market cap is currently $1.68B and has a P/E ratio of 20.44. The company has a Price to Book ratio of 2.27.
Based on the recent corporate insider activity of 48 insiders, corporate insider sentiment is negative on the stock.
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Fabrinet engages in the provision of optical packaging and electronic manufacturing services to original equipment manufacturers. The firm’s engineering services include process design, failure analysis, reliability testing, tooling design, and real-time traceability system.
