Fabrinet (NYSE:FN) Receives Consensus Rating of “Hold” from Analysts

Shares of Fabrinet (NYSE:FN) have earned a consensus rating of “Hold” from the seven ratings firms that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $243.29.

FN has been the topic of several recent research reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $280.00 price target on shares of Fabrinet in a report on Tuesday. JPMorgan Chase & Co. lowered their price target on shares of Fabrinet from $275.00 to $265.00 and set a “neutral” rating on the stock in a report on Tuesday. Rosenblatt Securities increased their target price on shares of Fabrinet from $280.00 to $285.00 and gave the stock a “buy” rating in a research note on Tuesday. B. Riley lowered shares of Fabrinet from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $194.00 to $178.00 in a research note on Wednesday, November 20th. Finally, Barclays lowered their target price on shares of Fabrinet from $292.00 to $245.00 and set an “equal weight” rating on the stock in a research note on Tuesday.

Fabrinet Trading Up 3.4 %

Shares of FN stock opened at $214.08 on Friday. The business’s fifty day simple moving average is $230.44 and its 200-day simple moving average is $234.17. The company has a market cap of $7.76 billion, a PE ratio of 25.33 and a beta of 0.92. Fabrinet has a 12-month low of $159.69 and a 12-month high of $281.79.

Fabrinet (NYSE:FN) last announced its quarterly earnings data on Monday, February 3rd. The technology company reported $2.38 earnings per share for the quarter, missing analysts’ consensus estimates of $2.48 by ($0.10). Fabrinet had a net margin of 10.28% and a return on equity of 18.08%. On average, equities analysts forecast that Fabrinet will post 9.1 earnings per share for the current year.

Hedge Funds Weigh In On Fabrinet

Several institutional investors have recently modified their holdings of FN. Legacy Wealth Asset Management LLC grew its stake in shares of Fabrinet by 3.2% during the third quarter. Legacy Wealth Asset Management LLC now owns 1,375 shares of the technology company’s stock worth $325,000 after purchasing an additional 43 shares in the last quarter. Wolff Wiese Magana LLC grew its stake in shares of Fabrinet by 2.7% during the third quarter. Wolff Wiese Magana LLC now owns 1,765 shares of the technology company’s stock worth $417,000 after purchasing an additional 47 shares in the last quarter. Cynosure Group LLC grew its stake in shares of Fabrinet by 3.4% during the third quarter. Cynosure Group LLC now owns 1,560 shares of the technology company’s stock worth $369,000 after purchasing an additional 51 shares in the last quarter. Trust Point Inc. grew its stake in shares of Fabrinet by 4.7% during the third quarter. Trust Point Inc. now owns 1,272 shares of the technology company’s stock worth $301,000 after purchasing an additional 57 shares in the last quarter. Finally, Huntington National Bank grew its stake in shares of Fabrinet by 70.4% during the third quarter. Huntington National Bank now owns 138 shares of the technology company’s stock worth $33,000 after purchasing an additional 57 shares in the last quarter. Institutional investors and hedge funds own 97.38% of the company’s stock.

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.