Fabrinet (FN) : Traders are bullish on Fabrinet (FN) as it has outperformed the S&P 500 by a wide margin of 5.09% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 9.76%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 9.82% in the last 1 week, and is up 6.17% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The stock has recorded a 20-day Moving Average of 7.36% and the 50-Day Moving Average is 9.32%. Fabrinet (NYSE:FN): stock turned positive on Friday. Though the stock opened at $38.44, the bulls momentum made the stock top out at $41.4 level for the day. The stock recorded a low of $38.2 and closed the trading day at $40.59, in the green by 6.56%. The total traded volume for the day was 1,452,518. The stock had closed at $38.09 in the previous days trading.
The company Insiders own 5.9% of Fabrinet shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by -25.6% . Institutional Investors own 88.41% of Fabrinet shares. During last six month period, the net percent change held by insiders has seen a change of -25.6%. Also, Equity Analysts at the Brokerage Firm, JP Morgan, maintains their rating on the shares of Fabrinet (NYSE:FN). JP Morgan has a Overweight rating on the shares. As per the latest research report, the brokerage house raises the price target to $42 per share from a prior target of $37. The rating by the firm was issued on May 27, 2016.
Fabrinet provides optical packaging and precision optical, electro-mechanical and electronic manufacturing services to original equipment manufacturers (OEMs) of complex products, such as optical communication components, modules and sub-systems, industrial lasers, medical devices and sensors. The Company offers a range of optical and electro-mechanical capabilities across the entire 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 focuses primarily on the production of low-volume, high-mix products. The Company operates primarily in three geographic regions: North America, Asia-Pacific and Europe. The products offered by the Company include optical communications devices, solid state diode-pumped gas and fiber lasers, and sensors.