Fabrinet (NYSE:FN) Given Average Recommendation of “Hold” by Analysts

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

Several equities research analysts have commented on FN shares. Needham & Company LLC reissued a “buy” rating and set a $280.00 price target on shares of Fabrinet in a research report on Tuesday. Barclays reduced their target price on shares of Fabrinet from $292.00 to $245.00 and set an “equal weight” rating for the company in a research report on Tuesday. Rosenblatt Securities upped their target price on Fabrinet from $280.00 to $285.00 and gave the company a “buy” rating in a research report on Tuesday. B. Riley downgraded Fabrinet from a “neutral” rating to a “sell” rating and reduced their target price for the company from $194.00 to $178.00 in a report on Wednesday, November 20th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Fabrinet from $275.00 to $265.00 and set a “neutral” rating for the company in a research report on Tuesday.

Fabrinet Price Performance

NYSE FN opened at $212.43 on Friday. Fabrinet has a one year low of $159.69 and a one year high of $281.79. The firm has a market cap of $7.70 billion, a PE ratio of 25.14 and a beta of 0.92. The stock’s 50 day simple moving average is $230.11 and its 200 day simple moving average is $233.94.

Fabrinet (NYSE:FN) last announced its quarterly earnings results 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 return on equity of 18.08% and a net margin of 10.28%. As a group, equities analysts expect that Fabrinet will post 9.1 earnings per share for the current year.

Institutional Trading of Fabrinet

Several institutional investors and hedge funds have recently modified their holdings of the business. Wedge Capital Management L L P NC bought a new stake in Fabrinet in the fourth quarter worth $63,222,000. Whale Rock Capital Management LLC lifted its holdings in shares of Fabrinet by 25.8% during the third quarter. Whale Rock Capital Management LLC now owns 855,767 shares of the technology company’s stock valued at $202,338,000 after purchasing an additional 175,684 shares in the last quarter. Stephens Investment Management Group LLC bought a new stake in Fabrinet in the 4th quarter worth approximately $28,218,000. Clearbridge Investments LLC purchased a new stake in Fabrinet during the second quarter valued at $27,911,000. Finally, Raymond James Financial Inc. purchased a new position in shares of Fabrinet in the fourth quarter worth approximately $24,844,000. Hedge funds and other institutional investors own 97.38% of the company’s stock.

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.