Fabrinet (NYSE:FN) Given Consensus Rating of “Hold” by Brokerages

Shares of Fabrinet (NYSE:FN) have been assigned a consensus rating of “Hold” from the seven ratings firms that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $252.14.

Several equities research analysts have weighed in on FN shares. Needham & Company LLC initiated coverage on Fabrinet in a report on Tuesday, November 5th. They issued a “buy” rating and a $280.00 target price for the company. Rosenblatt Securities upped their target price on Fabrinet from $260.00 to $280.00 and gave the company a “buy” rating in a research report on Tuesday, August 20th. JPMorgan Chase & Co. increased their price objective on Fabrinet from $240.00 to $285.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. B. Riley lowered Fabrinet from a “neutral” rating to a “sell” rating and cut their price objective for the company from $194.00 to $178.00 in a report on Wednesday, November 20th. Finally, Barclays began coverage on Fabrinet in a research note on Thursday, November 14th. They issued an “equal weight” rating and a $292.00 target price on the stock.

Fabrinet Stock Up 0.2 %

FN opened at $230.43 on Monday. The business has a fifty day moving average of $244.00 and a 200 day moving average of $237.91. Fabrinet has a 52-week low of $159.30 and a 52-week high of $278.38. The stock has a market cap of $8.36 billion, a P/E ratio of 27.27 and a beta of 0.95.

Fabrinet (NYSE:FN) last posted its quarterly earnings data on Monday, November 4th. The technology company reported $2.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.38 by $0.01. Fabrinet had a return on equity of 18.08% and a net margin of 10.28%. The company had revenue of $804.20 million during the quarter, compared to analysts’ expectations of $771.24 million. During the same quarter in the previous year, the business earned $1.78 EPS. Fabrinet’s revenue was up 17.3% compared to the same quarter last year. Equities analysts anticipate that Fabrinet will post 9.1 EPS for the current fiscal year.

Insider Buying and Selling at Fabrinet

In related news, EVP Edward T. Archer sold 8,690 shares of the stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $220.26, for a total value of $1,914,059.40. Following the completion of the sale, the executive vice president now owns 8,333 shares of the company’s stock, valued at approximately $1,835,426.58. This trade represents a 51.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.38% of the company’s stock.

Institutional Investors Weigh In On Fabrinet

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Virtu Financial LLC acquired a new stake in Fabrinet during the third quarter worth $431,000. Coldstream Capital Management Inc. increased its stake in Fabrinet by 10.2% during the third quarter. Coldstream Capital Management Inc. now owns 1,037 shares of the technology company’s stock worth $246,000 after acquiring an additional 96 shares during the last quarter. Geode Capital Management LLC increased its stake in Fabrinet by 7.6% during the third quarter. Geode Capital Management LLC now owns 986,813 shares of the technology company’s stock worth $233,359,000 after acquiring an additional 69,554 shares during the last quarter. Barclays PLC increased its stake in Fabrinet by 304.6% during the third quarter. Barclays PLC now owns 69,128 shares of the technology company’s stock worth $16,345,000 after acquiring an additional 52,042 shares during the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new stake in Fabrinet during the third quarter worth $61,000. 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.