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.
Analysts Set New Price Targets
Several equities analysts have recently issued reports on the company. B. Riley lowered their price target on Fabrinet from $100.00 to $96.00 in a research report on Tuesday, May 3rd. StockNews.com lowered Fabrinet from a "buy" rating to a "hold" rating in a research report on Saturday, August 6th. JPMorgan Chase & Co. decreased their target price on Fabrinet from $115.00 to $88.00 and set a "neutral" rating for the company in a research report on Thursday, July 14th. Finally, Loop Capital assumed coverage on Fabrinet in a research report on Monday, April 25th. They issued a "buy" rating and a $129.00 target price for the company. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Fabrinet presently has a consensus rating of "Moderate Buy" and a consensus target price of $113.17.
Fabrinet Stock Performance
Shares of Fabrinet stock traded up $0.05 during trading hours on Monday, reaching $100.71. 203,181 shares of the stock traded hands, compared to its average volume of 191,966. The company has a 50 day moving average price of $86.24 and a 200 day moving average price of $93.46. The firm has a market capitalization of $3.70 billion, a price-to-earnings ratio of 23.49 and a beta of 0.99. Fabrinet has a one year low of $74.57 and a one year high of $126.28. The company has a quick ratio of 2.02, a current ratio of 2.92 and a debt-to-equity ratio of 0.01.