Notable Runner: Could Fabrinet Lose Strenght? The Stock Increases A Lot Today

Notable Runner: Could Fabrinet Lose Strenght? The Stock Increases A Lot Today

The stock of Fabrinet (NYSE:FN) is a huge mover today! About 1.51 million shares traded hands or 187.19% up from the average. Fabrinet (NYSE:FN) has risen 18.06% since April 5, 2016 and is uptrending. It has outperformed by 16.11% the S&P500.
The move comes after 8 months positive chart setup for the $1.55 billion company. It was reported on Nov, 8 by Barchart.com. We have $57.89 PT which if reached, will make NYSE:FN worth $651.00 million more.

Fabrinet (NYSE:FN) Ratings Coverage

Out of 6 analysts covering Fabrinet (NYSE:FN), 6 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Fabrinet has been the topic of 17 analyst reports since August 14, 2015 according to StockzIntelligence Inc. Needham maintained the shares of FN in a report on Tuesday, February 2 with “Buy” rating. The rating was maintained by JP Morgan with “Overweight” on Friday, May 27. The stock has “Outperform” rating given by Northland Capital on Tuesday, November 3. On Monday, August 31 the stock rating was initiated by Northland Capital with “Outperform”. As per Tuesday, November 3, the company rating was maintained by B. Riley & Co. The firm has “Overweight” rating given on Monday, January 4 by Piper Jaffray. Stifel Nicolaus maintained it with “Buy” rating and $40 target price in Tuesday, May 3 report. On Wednesday, December 16 the stock rating was maintained by Needham with “Buy”. The firm earned “Buy” rating on Tuesday, November 3 by Stifel Nicolaus. The company was downgraded on Thursday, August 20 by Zacks.

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.”

Insitutional Activity: The institutional sentiment increased to 1.3 in Q2 2016. Its up 0.15, from 1.15 in 2016Q1. The ratio improved, as 16 funds sold all Fabrinet shares owned while 63 reduced positions. 36 funds bought stakes while 67 increased positions. They now own 31.89 million shares or 0.16% more from 31.84 million shares in 2016Q1.
Moreover, Castleark Limited Liability has 0.27% invested in Fabrinet (NYSE:FN) for 232,025 shares. Invesco last reported 179,885 shares in the company. Aqr Mngmt Lc holds 0.01% of its portfolio in Fabrinet (NYSE:FN) for 79,862 shares. Pub Sector Pension Inv Board has 0.01% invested in the company for 21,725 shares. Ameriprise last reported 879,346 shares in the company. Prudential Finance, a New Jersey-based fund reported 73,529 shares. First Quadrant Lp Ca holds 48,200 shares or 0.04% of its portfolio. Blackrock Institutional Trust Na, a California-based fund reported 863,507 shares. Origin Asset Mgmt Llp has invested 0.03% of its portfolio in Fabrinet (NYSE:FN). Hillsdale Inv Mngmt Inc last reported 0.18% of its portfolio in the stock. Nationwide Fund Advsr has 26,796 shares for 0% of their US portfolio. The Connecticut-based Pier Capital Limited Liability Company has invested 0.56% in Fabrinet (NYSE:FN). Blackrock Incorporated has 0% invested in the company for 5,507 shares. Tiaa Cref Limited Liability Company last reported 189,135 shares in the company. Zurcher Kantonalbank (Zurich Cantonalbank) has 879 shares for 0% of their US portfolio.

Insider Transactions: Since May 16, 2016, the stock had 0 insider purchases, and 9 sales for $18.52 million net activity. Another trade for 82,703 shares valued at $2.90M was sold by Gill Harpal. Mitchell David T. sold $2.81 million worth of stock or 75,000 shares. $200,305 worth of Fabrinet (NYSE:FN) was sold by Olson Rollance E. on Monday, August 22. Bahrami Homa had sold 5,000 shares worth $176,720. Shares for $667,997 were sold by LEVINSON FRANK H on Tuesday, May 24.

More news for Fabrinet (NYSE:FN) were recently published by: Seekingalpha.com, which released: “Fabrinet’s (FN) CEO Tom Mitchell on Q1 2017 Results – Earnings Call Transcript” on November 08, 2016. Reuters.com‘s article titled: “BRIEF-Fabrinet announces Q1 fiscal-year 2017 financial results” and published on November 07, 2016 is yet another important article.

FN Company Profile

Fabrinet, incorporated on August 12, 1999, provides optical packaging and precision optical, electro-mechanical and electronic manufacturing services to original equipment manufacturers (OEMs) of products, such as optical communication components, modules and sub-systems, industrial lasers, medical devices and sensors. The Firm offers a range of optical and electro-mechanical capabilities across the manufacturing process, including process design and engineering, supply chain management, manufacturing, complex printed circuit board assembly, advanced packaging, integration, final assembly and test. The Company’s customer base includes companies in industries that require precision manufacturing capabilities, such as optical communications, industrial lasers, automotive, medical and sensors. The Company’s clients in these industries support end-markets, including automotive, biotechnology, communications, materials processing, medical devices, metrology and semiconductor processing.

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