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

Shares of Fabrinet (NYSE:FN) have received a consensus rating of “Hold” from the seven research firms that are presently covering the company, Marketbeat Ratings 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 twelve-month target price among analysts that have covered the stock in the last year is $250.43.

A number of equities research analysts have issued reports on the stock. Needham & Company LLC reiterated a “buy” rating and set a $280.00 target price on shares of Fabrinet in a report on Monday, March 17th. Rosenblatt Securities reiterated a “buy” rating and issued a $285.00 price objective on shares of Fabrinet in a research note on Friday, March 14th. JPMorgan Chase & Co. lowered their target price on Fabrinet from $275.00 to $265.00 and set a “neutral” rating for the company in a research note on Tuesday, February 4th. Fox Advisors assumed coverage on Fabrinet in a research report on Tuesday, February 18th. They issued an “overweight” rating and a $270.00 price target on the stock. Finally, Barclays lowered their price objective on Fabrinet from $292.00 to $245.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 4th.

Institutional Trading of Fabrinet

Several institutional investors have recently modified their holdings of the stock. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Fabrinet during the 3rd quarter worth $52,000. Huntington National Bank lifted its holdings in shares of Fabrinet by 66.7% in the 4th quarter. Huntington National Bank now owns 230 shares of the technology company’s stock valued at $51,000 after purchasing an additional 92 shares during the last quarter. Quarry LP boosted its position in shares of Fabrinet by 315.8% in the 4th quarter. Quarry LP now owns 237 shares of the technology company’s stock valued at $52,000 after purchasing an additional 180 shares during the period. Public Employees Retirement System of Ohio purchased a new position in Fabrinet during the 3rd quarter worth approximately $61,000. Finally, Orion Capital Management LLC acquired a new position in Fabrinet during the fourth quarter worth approximately $62,000. Hedge funds and other institutional investors own 97.38% of the company’s stock.

Fabrinet Trading Down 5.3 %

FN stock opened at $195.58 on Friday. The business’s fifty day moving average price is $216.64 and its 200 day moving average price is $230.21. Fabrinet has a 12-month low of $159.69 and a 12-month high of $281.79. The company has a market capitalization of $7.09 billion, a PE ratio of 21.88 and a beta of 0.89.

Fabrinet (NYSE:FN) last issued its quarterly earnings results on Monday, February 3rd. The technology company reported $2.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.48 by ($0.10). Fabrinet had a return on equity of 18.48% and a net margin of 10.44%. Research analysts predict that Fabrinet will post 9.4 EPS for the current fiscal year.

Fabrinet Company Profile

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.