Fabrinet (FN) was Downgraded to a Hold Rating at Northland Securities


Fabrinet (FN) received a Hold rating and a $70.00 price target from Northland Securities analyst Tim Savageaux today. The company’s shares closed last Monday at $74.44, close to its 52-week high of $76.85.

According to TipRanks.com, Savageaux is a 5-star analyst with an average return of 10.7% and a 58.7% success rate. Savageaux covers the Technology sector, focusing on stocks such as MACOM Technology Solutions Holdings, Applied Optoelectronics, and DASAN Zhone Solutions.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Fabrinet with a $73.67 average price target.

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The company has a one-year high of $76.85 and a one-year low of $44.00. Currently, Fabrinet has an average volume of 266K.

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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. 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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