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

Shares of Fabrinet (NYSE:FN) have received an average recommendation of “Hold” from the seven ratings firms that are currently covering the stock, Marketbeat reports. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $219.00.

FN has been the topic of a number of research analyst reports. JPMorgan Chase & Co. boosted their price target on Fabrinet from $240.00 to $285.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. B. Riley boosted their target price on shares of Fabrinet from $171.00 to $196.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Jefferies Financial Group began coverage on shares of Fabrinet in a research note on Wednesday, June 26th. They set a “hold” rating and a $230.00 target price for the company. Rosenblatt Securities boosted their price target on shares of Fabrinet from $260.00 to $280.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. Finally, Needham & Company LLC lifted their target price on Fabrinet from $270.00 to $280.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th.

Fabrinet Price Performance

Shares of NYSE FN opened at $234.23 on Friday. The stock has a market cap of $8.47 billion, a PE ratio of 31.11 and a beta of 0.96. Fabrinet has a 1 year low of $149.19 and a 1 year high of $278.38. The firm has a fifty day moving average price of $227.82 and a 200-day moving average price of $220.77.

Fabrinet (NYSE:FN) last issued its quarterly earnings results on Monday, August 19th. The technology company reported $2.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.06 by $0.35. Fabrinet had a return on equity of 18.10% and a net margin of 10.27%. The business had revenue of $753.26 million during the quarter, compared to analyst estimates of $732.63 million. During the same quarter in the prior year, the business posted $1.68 EPS. Fabrinet’s revenue for the quarter was up 14.8% compared to the same quarter last year. On average, research analysts expect that Fabrinet will post 9.11 EPS for the current year.

Insider Activity at Fabrinet

In other news, CFO Csaba Sverha sold 9,288 shares of Fabrinet stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $270.08, for a total value of $2,508,503.04. Following the completion of the transaction, the chief financial officer now owns 19,768 shares in the company, valued at approximately $5,338,941.44. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, EVP Edward T. Archer sold 8,690 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $220.26, for a total transaction of $1,914,059.40. Following the transaction, the executive vice president now directly owns 8,333 shares in the company, valued at approximately $1,835,426.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Csaba Sverha sold 9,288 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $270.08, for a total transaction of $2,508,503.04. Following the completion of the sale, the chief financial officer now directly owns 19,768 shares of the company’s stock, valued at approximately $5,338,941.44. The disclosure for this sale can be found here. In the last quarter, insiders sold 44,728 shares of company stock valued at $11,645,062. Insiders own 0.51% of the company’s stock.

Institutional Investors Weigh In On Fabrinet

Several hedge funds and other institutional investors have recently modified their holdings of FN. Opal Wealth Advisors LLC bought a new position in Fabrinet in the 2nd quarter valued at $28,000. Banque Cantonale Vaudoise purchased a new stake in shares of Fabrinet during the second quarter valued at $35,000. Parallel Advisors LLC grew its holdings in shares of 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. Kimelman & Baird LLC purchased a new position in Fabrinet in the 2nd quarter worth about $49,000. Finally, GAMMA Investing LLC lifted its holdings in Fabrinet by 60.6% during the 1st quarter. GAMMA Investing LLC now owns 289 shares of the technology company’s stock valued at $55,000 after buying an additional 109 shares in the last quarter. 97.38% of the stock is currently owned by hedge funds and other institutional investors.

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.