Fabrinet (FN) : Traders are bullish on Fabrinet (FN) as it has outperformed the S&P 500 by a wide margin of 10.06% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 7.77%, 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 8.34% in the last 1 week, and is up 7.83% 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 7.06% and the 50-Day Moving Average is 10.67%.The 200 Day SMA reached 34.86% Fabrinet is up 17.24% in the last 3-month period. Year-to-Date the stock performance stands at 81.02%.
Fabrinet (FN) : The highest level Fabrinet (FN) is projected to reach is $54 for the short term and the lowest estimate is at $47. The consolidated price target from 6 rating analysts who initiate coverage on the stock is $49.96 and the possibility the share price can swing is $2.85.
Company shares have received an average consensus rating of Hold for the current week Fabrinet (NYSE:FN): The stock opened at $42.47 and touched an intraday high of $43.19 on Friday. During the day, the stock corrected to an intraday low of $42.022, however, the bulls stepped in and pushed the price higher to close in the green at $43.12 with a gain of 1.32% for the day. The total traded volume for the day was 1,175,723. The stock had closed at $43.12 in the previous trading session.
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.