{"id":52097,"date":"2023-08-23T15:31:29","date_gmt":"2023-08-23T19:31:29","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/fabrinet-stock-soars-32-to-a-new-high-wall-street-sees-an-ai-opportunity\/"},"modified":"2023-08-23T15:31:32","modified_gmt":"2023-08-23T19:31:32","slug":"fabrinet-stock-soars-32-to-a-new-high-wall-street-sees-an-ai-opportunity","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=52097","title":{"rendered":"Fabrinet Stock Soars 32% to a New High. Wall Street Sees an AI Opportunity."},"content":{"rendered":"
\n
<\/p>\n

<\/p>\n

<\/p>\n
<\/div>\n<\/figure><\/div>\n

Contract electronics manufacturer
\n Fabrinet
\n stock hit a new closing high as analysts pointed to solid quarterly results and an opportunity in artificial intelligence. <\/p>\n

Fabrinet stock (ticker: FN) gained 32% to $153.66 on Tuesday, a record closing high based on prices going back to June 2010, according to Dow Jones Market Data.<\/p>\n

\n

Lake Street Capital Markets analyst Troy Jensen maintained a Buy rating on Fabrinet and lifted his price target to $165 from $130 in a Tuesday report. <\/p>\n

Jensen said the company had solid fourth-quarter results and issued financial forecasts in line with Wall Street\u2019s expectations. Customers\u2019 efforts to reduce their inventories are\u00a0<\/strong>being offset by a large artificial-intelligence transceiver project that should boost overall growth for the company, he said. <\/p>\n

\u201cWe believe Fabrinet has solid visibility into datacom strength continuing, and we believe growth will accelerate in calendar 2024 once legacy telecom demand returns to normal,\u201d he wrote. <\/p>\n

The company produces components, lasers, and subsystems for a variety of blue-chip customers, the analyst said. \u201cGiven our conviction regarding Fabrinet\u2019s leadership position in this market, a strong track record of growth and profitability, coupled with an attractive entry point, we believe now is a great time for investors to start building or adding to positions,\u201d he added. <\/p>\n

Needham analysts were also upbeat on the stock. In a Tuesday report, they acknowledged Fabrinet\u2019s recent financial results and potential to benefit from AI. They maintained a Buy rating on the stock, lifted their target for the price to $165 from $150, and raised their forecasts for revenue and earnings. <\/p>\n

On Monday, Fabrinet posted fourth-quarter revenue and adjusted earnings that beat the Wall Street consensus. Its guidance range for the first fiscal quarter aligned with analysts\u2019 expectations. <\/p>\n

Write to Emily Dattilo at emily.dattilo@dowjones.com<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Contract electronics manufacturer Fabrinet stock hit a new closing high as analysts pointed to solid quarterly results and an opportunity in artificial intelligence. Fabrinet stock (ticker: FN) gained 32% to $153.66 on Tuesday, a record closing high based on prices going back to June 2010, according to Dow Jones Market Data. Lake Street Capital Markets […]<\/p>\n","protected":false},"author":1,"featured_media":52098,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-52097","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nFabrinet Stock Soars 32% to a New High. Wall Street Sees an AI Opportunity. | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Contract electronics manufacturer Fabrinet stock hit a new closing high as analysts pointed to solid quarterly results and an opportunity in artificial\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=52097\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Fabrinet Stock Soars 32% to a New High. Wall Street Sees an AI Opportunity. | iFintechWorld\" \/>\n<meta property=\"og:description\" content=\"Contract electronics manufacturer Fabrinet stock hit a new closing high as analysts pointed to solid quarterly results and an opportunity in artificial\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ifintechworld.com\/?p=52097\" \/>\n<meta property=\"og:site_name\" content=\"iFintechWorld\" \/>\n<meta property=\"article:published_time\" content=\"2023-08-23T19:31:29+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-08-23T19:31:32+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/08\/1692819090_social.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"640\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"News Room\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"News Room\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/ifintechworld.com\/?p=52097#article\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=52097\"},\"author\":{\"name\":\"News Room\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\"},\"headline\":\"Fabrinet Stock Soars 32% to a New High. Wall Street Sees an AI Opportunity.\",\"datePublished\":\"2023-08-23T19:31:29+00:00\",\"dateModified\":\"2023-08-23T19:31:32+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=52097\"},\"wordCount\":305,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"keywords\":[\"Featured\"],\"articleSection\":[\"Investing\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/ifintechworld.com\/?p=52097#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/ifintechworld.com\/?p=52097\",\"url\":\"https:\/\/ifintechworld.com\/?p=52097\",\"name\":\"Fabrinet Stock Soars 32% to a New High. Wall Street Sees an AI Opportunity. | iFintechWorld\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/#website\"},\"datePublished\":\"2023-08-23T19:31:29+00:00\",\"dateModified\":\"2023-08-23T19:31:32+00:00\",\"description\":\"Contract electronics manufacturer Fabrinet stock hit a new closing high as analysts pointed to solid quarterly results and an opportunity in artificial\",\"breadcrumb\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=52097#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/ifintechworld.com\/?p=52097\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/ifintechworld.com\/?p=52097#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/ifintechworld.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Fabrinet Stock Soars 32% to a New High. Wall Street Sees an AI Opportunity.\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/ifintechworld.com\/#website\",\"url\":\"https:\/\/ifintechworld.com\/\",\"name\":\"Repay Down\",\"description\":\"Latest Personal Finance News, Tips and Updates\",\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/ifintechworld.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/ifintechworld.com\/#organization\",\"name\":\"Repay Down\",\"url\":\"https:\/\/ifintechworld.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"width\":558,\"height\":90,\"caption\":\"Repay Down\"},\"image\":{\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\",\"name\":\"News Room\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"caption\":\"News Room\"},\"sameAs\":[\"https:\/\/ifintechworld.com\"],\"url\":\"https:\/\/ifintechworld.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Fabrinet Stock Soars 32% to a New High. Wall Street Sees an AI Opportunity. | iFintechWorld","description":"Contract electronics manufacturer Fabrinet stock hit a new closing high as analysts pointed to solid quarterly results and an opportunity in artificial","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/ifintechworld.com\/?p=52097","og_locale":"en_US","og_type":"article","og_title":"Fabrinet Stock Soars 32% to a New High. Wall Street Sees an AI Opportunity. | iFintechWorld","og_description":"Contract electronics manufacturer Fabrinet stock hit a new closing high as analysts pointed to solid quarterly results and an opportunity in artificial","og_url":"https:\/\/ifintechworld.com\/?p=52097","og_site_name":"iFintechWorld","article_published_time":"2023-08-23T19:31:29+00:00","article_modified_time":"2023-08-23T19:31:32+00:00","og_image":[{"width":1280,"height":640,"url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/08\/1692819090_social.jpeg","type":"image\/jpeg"}],"author":"News Room","twitter_card":"summary_large_image","twitter_misc":{"Written by":"News Room","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/ifintechworld.com\/?p=52097#article","isPartOf":{"@id":"https:\/\/ifintechworld.com\/?p=52097"},"author":{"name":"News Room","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61"},"headline":"Fabrinet Stock Soars 32% to a New High. Wall Street Sees an AI Opportunity.","datePublished":"2023-08-23T19:31:29+00:00","dateModified":"2023-08-23T19:31:32+00:00","mainEntityOfPage":{"@id":"https:\/\/ifintechworld.com\/?p=52097"},"wordCount":305,"commentCount":0,"publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"keywords":["Featured"],"articleSection":["Investing"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/ifintechworld.com\/?p=52097#respond"]}]},{"@type":"WebPage","@id":"https:\/\/ifintechworld.com\/?p=52097","url":"https:\/\/ifintechworld.com\/?p=52097","name":"Fabrinet Stock Soars 32% to a New High. Wall Street Sees an AI Opportunity. | iFintechWorld","isPartOf":{"@id":"https:\/\/ifintechworld.com\/#website"},"datePublished":"2023-08-23T19:31:29+00:00","dateModified":"2023-08-23T19:31:32+00:00","description":"Contract electronics manufacturer Fabrinet stock hit a new closing high as analysts pointed to solid quarterly results and an opportunity in artificial","breadcrumb":{"@id":"https:\/\/ifintechworld.com\/?p=52097#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ifintechworld.com\/?p=52097"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/ifintechworld.com\/?p=52097#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/ifintechworld.com\/"},{"@type":"ListItem","position":2,"name":"Fabrinet Stock Soars 32% to a New High. Wall Street Sees an AI Opportunity."}]},{"@type":"WebSite","@id":"https:\/\/ifintechworld.com\/#website","url":"https:\/\/ifintechworld.com\/","name":"Repay Down","description":"Latest Personal Finance News, Tips and Updates","publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ifintechworld.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/ifintechworld.com\/#organization","name":"Repay Down","url":"https:\/\/ifintechworld.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","width":558,"height":90,"caption":"Repay Down"},"image":{"@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61","name":"News Room","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","caption":"News Room"},"sameAs":["https:\/\/ifintechworld.com"],"url":"https:\/\/ifintechworld.com\/?author=1"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/52097","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=52097"}],"version-history":[{"count":1,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/52097\/revisions"}],"predecessor-version":[{"id":52099,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/52097\/revisions\/52099"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/media\/52098"}],"wp:attachment":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=52097"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=52097"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=52097"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}