Brokerages Set Fabrinet (NYSE:FN) PT at $168.67

Fabrinet (NYSE:FN) has earned an average rating of “Moderate Buy” from the nine research firms that are currently covering the stock, Marketbeat Ratings reports. Four analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $168.67.

Several research firms recently issued reports on FN. Jefferies Financial Group started coverage on shares of Fabrinet in a research report on Wednesday, June 26th. They issued a “hold” rating and a $230.00 price target for the company. JPMorgan Chase & Co. boosted their target price on shares of Fabrinet from $210.00 to $212.00 and gave the company a “neutral” rating in a report on Thursday, April 11th. B. Riley decreased their target price on Fabrinet from $173.00 to $171.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 7th. Finally, Needham & Company LLC reissued a “buy” rating and set a $220.00 price target on shares of Fabrinet in a research note on Tuesday, May 7th.

Insider Buying and Selling

In other news, Director Frank H. Levinson sold 6,000 shares of Fabrinet stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $241.71, for a total value of $1,450,260.00. Following the completion of the transaction, the director now owns 5,709 shares of the company’s stock, valued at approximately $1,379,922.39. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.51% of the stock is owned by insiders.

Institutional Trading of Fabrinet

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Park Place Capital Corp purchased a new position in shares of Fabrinet in the fourth quarter worth $26,000. Opal Wealth Advisors LLC purchased a new position in Fabrinet during the 2nd quarter valued at approximately $28,000. Salem Investment Counselors Inc. bought a new stake in Fabrinet in the 4th quarter worth approximately $29,000. GAMMA Investing LLC purchased a new position in shares of Fabrinet in the fourth quarter valued at $34,000. Finally, Parallel Advisors LLC increased its position in Fabrinet by 59.7% in the fourth quarter. Parallel Advisors LLC now owns 206 shares of the technology company’s stock worth $39,000 after purchasing an additional 77 shares during the last quarter. 97.38% of the stock is owned by hedge funds and other institutional investors.

Fabrinet Stock Up 3.7 %

FN opened at $244.93 on Tuesday. The company has a 50-day simple moving average of $242.04 and a 200 day simple moving average of $211.53. Fabrinet has a twelve month low of $114.83 and a twelve month high of $266.39. The stock has a market capitalization of $8.85 billion, a price-to-earnings ratio of 32.53 and a beta of 0.96.

Fabrinet (NYSE:FN) last announced its earnings results on Monday, May 6th. The technology company reported $2.21 EPS for the quarter, topping the consensus estimate of $1.93 by $0.28. Fabrinet had a return on equity of 17.67% and a net margin of 9.90%. The firm had revenue of $731.54 million for the quarter, compared to the consensus estimate of $718.94 million. Sell-side analysts anticipate that Fabrinet will post 7.95 EPS for the current fiscal year.

About Fabrinet

Fabrinet provides optical packaging and precision optical, electro-mechanical, and electronic manufacturing services in North America, the Asia-Pacific, and Europe. The company offers a range of advanced optical and electro-mechanical capabilities in the manufacturing process, including process design and engineering, supply chain management, manufacturing, printed circuit board assembly, advanced packaging, integration, final assembly, and testing.