Fabrinet (NYSE:FN) Stock Price Expected to Rise, Rosenblatt Securities Analyst Says

Fabrinet (NYSE:FN) had its price objective increased by Rosenblatt Securities from $280.00 to $285.00 in a report published on Tuesday morning,Benzinga reports. Rosenblatt Securities currently has a buy rating on the technology company’s stock.

A number of other analysts have also recently issued reports on the stock. B. Riley cut shares of Fabrinet from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $194.00 to $178.00 in a research note on Wednesday, November 20th. Barclays cut their price target on Fabrinet from $292.00 to $245.00 and set an “equal weight” rating for the company in a research note on Tuesday. Finally, Needham & Company LLC started coverage on Fabrinet in a research report on Tuesday, November 5th. They issued a “buy” rating and a $280.00 price objective on the stock. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $243.29.

Fabrinet Stock Performance

Shares of Fabrinet stock opened at $220.83 on Tuesday. The stock has a market cap of $8.01 billion, a P/E ratio of 26.13 and a beta of 0.92. The stock’s fifty day moving average is $230.21 and its 200 day moving average is $234.03. Fabrinet has a one year low of $159.69 and a one year high of $281.79.

Fabrinet (NYSE:FN) last posted its quarterly earnings data 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 net margin of 10.28% and a return on equity of 18.08%. Analysts predict that Fabrinet will post 9.1 EPS for the current year.

Institutional Investors Weigh In On Fabrinet

Several large investors have recently made changes to their positions in FN. Wellington Management Group LLP grew its holdings in Fabrinet by 1.7% during the 3rd quarter. Wellington Management Group LLP now owns 1,169,162 shares of the technology company’s stock valued at $276,437,000 after buying an additional 19,677 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Fabrinet by 7.6% during the 3rd quarter. Geode Capital Management LLC now owns 986,813 shares of the technology company’s stock valued at $233,359,000 after acquiring an additional 69,554 shares during the last quarter. Whale Rock Capital Management LLC grew its holdings in shares of Fabrinet by 25.8% in 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. JPMorgan Chase & Co. grew its holdings in shares of Fabrinet by 3.8% in the third quarter. JPMorgan Chase & Co. now owns 660,401 shares of the technology company’s stock valued at $156,145,000 after purchasing an additional 24,439 shares in the last quarter. Finally, Baillie Gifford & Co. increased its position in Fabrinet by 10.7% in the fourth quarter. Baillie Gifford & Co. now owns 553,038 shares of the technology company’s stock worth $121,602,000 after purchasing an additional 53,250 shares during the last quarter. 97.38% of the stock is owned by 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.