Needham maintained a Buy rating on Fabrinet stock on October 21, 2023, while lowering its price target to $500 from $650.

Key Takeaways

  • The target reduction was $150 per share, or 23.08%.
  • The available information does not establish the current status of Needham’s rating or target.

Fabrinet stock rating and price target

The lower target was an analyst estimate, not a guaranteed future share price. Needham’s Buy rating remained unchanged at the time of the adjustment.

The available information does not provide a stated reason from Needham for the cut. An accompanying market snapshot listed Fabrinet shares at $325.24, but did not specify when that price was observed. It should not be assumed to be the price on the rating date or the latest price.

Fabrinet’s manufacturing business

Fabrinet provides advanced optical packaging and precision manufacturing services to original equipment manufacturers. Its customers operate in areas including optical communications, industrial lasers and medical devices.

The company’s manufacturing capabilities are primarily based in Thailand, with additional facilities in the United States, China and Israel.

Read More News

More FinanceVelix news

Disclaimer

This FinanceVelix article provides general information, not personalized financial, investment, legal, or tax advice. Market prices, interest rates and economic conditions can change; investments carry a risk of loss. Facts reflect the material available when published and may change. Check important information independently and consult a qualified professional when needed. Mentioning an asset, company, or service is not an endorsement.