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

Fabrinet (NYSE:FN) has been assigned an average recommendation of “Moderate Buy” from the eight ratings firms that are presently covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $161.00.

A number of research analysts recently issued reports on FN shares. Rosenblatt Securities reiterated a “buy” rating and issued a $230.00 price target on shares of Fabrinet in a research note on Tuesday, February 6th. JPMorgan Chase & Co. boosted their price objective on shares of Fabrinet from $210.00 to $212.00 and gave the stock a “neutral” rating in a research report on Thursday, April 11th. B. Riley cut their price target on shares of Fabrinet from $173.00 to $171.00 and set a “neutral” rating on the stock in a research note on Tuesday. Needham & Company LLC reiterated a “buy” rating and set a $220.00 target price on shares of Fabrinet in a research report on Tuesday. Finally, Northland Securities raised Fabrinet from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $200.00 to $220.00 in a research report on Thursday, March 21st.

Insider Activity at Fabrinet

In other Fabrinet news, Director Rollance E. Olson sold 10,000 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $205.52, for a total value of $2,055,200.00. Following the completion of the transaction, the director now owns 25,981 shares in the company, valued at $5,339,615.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.51% of the stock is owned by insiders.

Institutional Investors Weigh In On Fabrinet

Institutional investors and hedge funds have recently bought and sold shares of the stock. Park Place Capital Corp acquired a new stake in shares of Fabrinet during the fourth quarter worth $26,000. Salem Investment Counselors Inc. acquired a new stake in Fabrinet in the 4th quarter worth about $29,000. GAMMA Investing LLC purchased a new stake in Fabrinet in the 4th quarter valued at about $34,000. Parallel Advisors LLC increased its stake in shares of Fabrinet by 59.7% during the 4th quarter. Parallel Advisors LLC now owns 206 shares of the technology company’s stock valued at $39,000 after acquiring an additional 77 shares during the last quarter. Finally, Orion Capital Management LLC purchased a new position in shares of Fabrinet during the 3rd quarter worth about $47,000. Hedge funds and other institutional investors own 97.38% of the company’s stock.

Fabrinet Stock Up 1.0 %

NYSE:FN opened at $211.44 on Thursday. Fabrinet has a 52 week low of $90.19 and a 52 week high of $229.02. The stock’s fifty day moving average is $189.91 and its two-hundred day moving average is $185.95. The stock has a market capitalization of $7.68 billion, a price-to-earnings ratio of 30.55 and a beta of 1.04.

Fabrinet (NYSE:FN) last announced its quarterly earnings data on Monday, February 5th. The technology company reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.84 by $0.05. Fabrinet had a return on equity of 17.27% and a net margin of 9.35%. The business had revenue of $712.69 million for the quarter, compared to analysts’ expectations of $699.76 million. On average, sell-side analysts expect that Fabrinet will post 7.59 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.