Fabrinet (NYSE:FN) Hits New 52-Week High at $244.46

Fabrinet (NYSE:FN - Get Free Report) shares reached a new 52-week high on Thursday . The company traded as high as $244.46 and last traded at $244.09, with a volume of 54498 shares. The stock had previously closed at $234.22.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on FN shares. B. Riley reduced their price objective on shares of Fabrinet from $173.00 to $171.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 7th. JPMorgan Chase & Co. upped their price objective on Fabrinet from $210.00 to $212.00 and gave the company a "neutral" rating in a report on Thursday, April 11th. Needham & Company LLC restated a "buy" rating and set a $220.00 target price on shares of Fabrinet in a report on Tuesday, May 7th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $230.00 price target on shares of Fabrinet in a research note on Tuesday, February 6th. Finally, Northland Securities upgraded shares of Fabrinet from a "market perform" rating to an "outperform" rating and increased their price target for the company from $200.00 to $220.00 in a research report on Thursday, March 21st. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $161.00.

Fabrinet Trading Up 3.5 %

The company's 50 day moving average is $193.81 and its 200-day moving average is $191.32. The firm has a market capitalization of $8.76 billion, a price-to-earnings ratio of 32.19 and a beta of 1.04.

Institutional Investors Weigh In On Fabrinet

Hedge funds and other institutional investors have recently modified their holdings of the company. First Eagle Investment Management LLC raised its holdings in shares of Fabrinet by 0.8% during the 4th quarter. First Eagle Investment Management LLC now owns 7,508 shares of the technology company's stock worth $1,429,000 after buying an additional 60 shares in the last quarter. Campbell Newman Asset Management Inc. increased its holdings in Fabrinet by 0.4% in the fourth quarter. Campbell Newman Asset Management Inc. now owns 17,895 shares of the technology company's stock worth $3,406,000 after purchasing an additional 64 shares in the last quarter. Signaturefd LLC lifted its stake in Fabrinet by 15.9% in the third quarter. Signaturefd LLC now owns 503 shares of the technology company's stock valued at $84,000 after buying an additional 69 shares during the period. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Fabrinet by 3.5% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 2,208 shares of the technology company's stock worth $368,000 after buying an additional 75 shares in the last quarter. Finally, Sequoia Financial Advisors LLC grew its position in shares of Fabrinet by 3.2% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 2,396 shares of the technology company's stock worth $399,000 after buying an additional 75 shares during the period. Institutional investors and hedge funds own 97.38% of the company's stock.

Fabrinet Company Profile

Fabrinet provides optical packaging and precision optical, electro-mechanical, and electronic manufacturing services in North America, the Asia-Pacific, and Europe. The company offers a range of advanced optical and electro-mechanical capabilities in the manufacturing process, including process design and engineering, supply chain management, manufacturing, printed circuit board assembly, advanced packaging, integration, final assembly, and testing.