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Fabrinet [FN] Investment Appeal on the Rise

In a filing, Fabrinet revealed its Director KELLY THOMAS F unloaded Company’s shares for reported $2.22 million on Mar 07 ’24. In the deal valued at $222.17 per share,10,000 shares were sold. As a result of this transaction, KELLY THOMAS F now holds 20,814 shares worth roughly $3.6 million.

Then, Gill Harpal sold 21,464 shares, generating $4,625,492 in total proceeds. Upon selling the shares at $215.50, the PRESIDENT & COO now owns 24,689 shares.

Before that, Bahrami Homa sold 4,500 shares. Fabrinet shares valued at $911,088 were divested by the Director at a price of $202.46 per share. As a result of the transaction, Bahrami Homa now holds 20,921 shares, worth roughly $3.62 million.

Northland Capital upgraded its Fabrinet [FN] rating to an Outperform from a a Market perform in a research note published on March 21, 2024; the price target was increased to $220 from $200. A number of analysts have revised their coverage, including Northland Capital’s analysts, who decreased its forecast for the stock in early February from “an Outperform” to “a Market perform”. JP Morgan also remained covering FN and has decreased its forecast on January 08, 2024 with a “Neutral” recommendation from previously “an Overweight” rating. Rosenblatt started covering the stock on October 05, 2023. It rated FN as “a Buy”.

Price Performance Review of FN

On Tuesday, Fabrinet [NYSE:FN] saw its stock fall -1.66% to $173.07. Over the last five days, the stock has gained 2.61%. Fabrinet shares have fallen nearly -9.07% since the year began. Nevertheless, the stocks have risen 82.27% over the past one year. While a 52-week high of $229.02 was reached on 02/05/24, a 52-week low of $90.19 was recorded on 04/19/24. SMA at 50 days reached $190.96, while 200 days put it at $172.42. A total of 0.59 million shares were traded, compared to the trading of 0.39 million shares in the previous session.

Levels Of Support And Resistance For FN Stock

The 24-hour chart illustrates a support level at 171.37, which if violated will result in even more drops to 169.68. On the upside, there is a resistance level at 176.41. A further resistance level may holdings at 179.76. The Relative Strength Index (RSI) on the 14-day chart is 42.71, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 4.08, which suggests price will go up in the next trading period. Percent R suggests that price movement has been low at 35.89%. Stochastics %K at 60.19% indicates the stock is a holding.

The most recent change occurred on August 22, 2023 when Needham resumed its ‘”a Buy”‘ rating for the stock and retained the price target to $165.

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