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. Its products include switching products, including reconfigurable optical add-drop multiplexers, optical amplifiers, modulators, and other optical components and modules that enable network managers to route voice, video, and data communications traffic through fiber optic cables at various wavelengths, speeds, and over various distances. The company's products also comprise tunable lasers, transceivers, and transponders; and active optical cables, which provide high-speed interconnect capabilities for data centers and computing clusters, as well as Infiniband, Ethernet, fiber channel, and optical backplane connectivity. In addition, it provides solid state, diode-pumped, gas, and fiber lasers used in semiconductor processing, biotechnology and medical device, metrology, and material processing industries; and differential pressure, micro-gyro, fuel, and other sensors used in automobiles, as well as non-contact temperature measurement sensors for the medical industry. Further, the company designs and fabricates application-specific crystals, lenses, prisms, mirrors, laser components, and substrates; and other custom and standard borosilicate, clear fused quartz, and synthetic fused silica glass products. It serves original equipment manufacturers of optical communication components, modules and sub-systems, industrial lasers, automotive components, medical devices, and sensors. The company was incorporated in 1999 and is based in George Town, the Cayman Islands.
Fabrinet Trading Up 2.7 %
Shares of NYSE:FN traded up $2.67 during midday trading on Friday, hitting $100.66. 98,170 shares of the company traded hands, compared to its average volume of 149,956. Fabrinet has a 12-month low of $74.57 and a 12-month high of $126.28. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.02 and a current ratio of 2.92. The stock has a 50-day moving average price of $86.24 and a 200 day moving average price of $93.63. The firm has a market cap of $3.70 billion, a P/E ratio of 20.21 and a beta of 0.99.
Analysts Set New Price Targets
Several research firms have weighed in on FN. Loop Capital began coverage on shares of Fabrinet in a research note on Monday, April 25th. They issued a "buy" rating and a $129.00 price target for the company. B. Riley decreased their price objective on shares of Fabrinet from $100.00 to $96.00 in a research report on Tuesday, May 3rd. JPMorgan Chase & Co. decreased their price objective on shares of Fabrinet from $115.00 to $88.00 and set a "neutral" rating on the stock in a research report on Thursday, July 14th. Finally, StockNews.com cut shares of Fabrinet from a "buy" rating to a "hold" rating in a research report on Saturday, August 6th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, Fabrinet has a consensus rating of "Moderate Buy" and a consensus price target of $113.17.