In a report released today, Alex Henderson from Needham assigned a Buy rating to Fabrinet (FN), with a price target of $85.00. The company’s shares closed last Tuesday at $62.96.
According to TipRanks.com, Henderson is a 5-star analyst with an average return of 17.6% and a 53.3% success rate. Henderson covers the Technology sector, focusing on stocks such as SailPoint Technologies Holdings, Applied Optoelectronics, and CrowdStrike Holdings.
Fabrinet has an analyst consensus of Moderate Buy, with a price target consensus of $77.40.
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Based on Fabrinet’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $405 million and net profit of $28.02 million. In comparison, last year the company earned revenue of $405 million and had a net profit of $32.96 million.
Based on the recent corporate insider activity of 44 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of FN in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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. Its manufacturing operations offer sensors, subsystems, customized optics, and optical modules and components. The company was founded by David Thomas Mitchell on August 12, 1999 and is headquartered in George Town, Cayman Islands.
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