Fintel reports that on October 5, 2023, Rosenblatt initiated coverage of Fabrinet (NYSE:FN) with a Buy recommendation.
Analyst Price Forecast Suggests 3.49% Downside
As of October 5, 2023, the average one-year price target for Fabrinet is 168.04. The forecasts range from a low of 130.29 to a high of $210.00. The average price target represents a decrease of 3.49% from its latest reported closing price of 174.12.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Fabrinet is 2,999MM, an increase of 13.37%. The projected annual non-GAAP EPS is 8.31.
What is the Fund Sentiment?
There are 638 funds or institutions reporting positions in Fabrinet. This is a decrease of 25 owner(s) or 3.77% in the last quarter. Average portfolio weight of all funds dedicated to FN is 0.32%, an increase of 13.90%. Total shares owned by institutions decreased in the last three months by 1.09% to 43,355K shares. 
The put/call ratio of FN is 0.60, indicating a bullish outlook.
What are Other Shareholders Doing?
IJR - iShares Core S&P Small-Cap ETF holds 2,545K shares representing 7.03% ownership of the company. In it's prior filing, the firm reported owning 2,671K shares, representing a decrease of 4.93%. The firm increased its portfolio allocation in FN by 0.93% over the last quarter.
SMCWX - SMALLCAP WORLD FUND INC holds 1,855K shares representing 5.13% ownership of the company. In it's prior filing, the firm reported owning 1,861K shares, representing a decrease of 0.31%. The firm increased its portfolio allocation in FN by 3.23% over the last quarter.
Capital International Investors holds 1,610K shares representing 4.45% ownership of the company. In it's prior filing, the firm reported owning 1,472K shares, representing an increase of 8.59%. The firm increased its portfolio allocation in FN by 12.21% over the last quarter.
Wasatch Advisors holds 1,268K shares representing 3.50% ownership of the company. In it's prior filing, the firm reported owning 1,494K shares, representing a decrease of 17.80%. The firm decreased its portfolio allocation in FN by 9.71% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,142K shares representing 3.15% ownership of the company. In it's prior filing, the firm reported owning 1,132K shares, representing an increase of 0.88%. The firm increased its portfolio allocation in FN by 1.80% over the last quarter.
Fabrinet Background Information
(This description is provided by the company.)
Fabrinet is a leading provider of advanced optical packaging and precision optical, electro-mechanical, and electronic manufacturing services to original equipment manufacturers of complex products, such as optical communication components, modules and subsystems, automotive components, medical devices, industrial lasers and sensors. Fabrinet offers a broad range of advanced optical and electro-mechanical capabilities across the entire manufacturing process, including process design and engineering, supply chain management, manufacturing, advanced packaging, integration, final assembly and testing. Fabrinet focuses on production of high complexity products in any mix and any volume. Fabrinet maintains engineering and manufacturing resources and facilities in Thailand, the United States of America, the People's Republic of China, Israel and the United Kingdom.
Fintel is one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds.
Our data covers the world, and includes fundamentals, analyst reports, ownership data and fund sentiment, options sentiment, insider trading, options flow, unusual options trades, and much more. Additionally, our exclusive stock picks are powered by advanced, backtested quantitative models for improved profits.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
