Fabrinet (FN) Receives a Hold from B.Riley FBR
In a report released today, Dave Kang from B.Riley FBR maintained a Hold rating on Fabrinet (FN), with a price target of $60.00. The company’s shares closed last Monday at $63.71.
According to TipRanks.com, Kang is a top 100 analyst with an average return of 22.3% and a 66.5% success rate. Kang covers the Consumer Goods sector, focusing on stocks such as Applied Optoelectronics, DASAN Zhone Solutions, and Acacia Communications.
Currently, the analyst consensus on Fabrinet is a Strong Buy with an average price target of $71.20.
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Based on Fabrinet’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $25.96 million. In comparison, last year the company had a net profit of $31.51 million.
Based on the recent corporate insider activity of 41 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.
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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.