Fabrinet (NYSE:FN) Now Covered by Fox Advisors

Research analysts at Fox Advisors assumed coverage on shares of Fabrinet (NYSE:FN) in a research report issued on Tuesday,Briefing.com Automated Import reports. The brokerage set an “overweight” rating and a $270.00 price target on the technology company’s stock. Fox Advisors’ price objective would suggest a potential upside of 20.92% from the company’s previous close.

A number of other equities research analysts also recently commented on FN. JPMorgan Chase & Co. reduced their target price on Fabrinet from $275.00 to $265.00 and set a “neutral” rating for the company in a report on Tuesday, February 4th. B. Riley cut shares of Fabrinet from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $194.00 to $178.00 in a research note on Wednesday, November 20th. Rosenblatt Securities upped their target price on shares of Fabrinet from $280.00 to $285.00 and gave the stock a “buy” rating in a research report on Tuesday, February 4th. Needham & Company LLC reiterated a “buy” rating and set a $280.00 price target on shares of Fabrinet in a research report on Tuesday, February 4th. Finally, Barclays decreased their price target on Fabrinet from $292.00 to $245.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 4th. One analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $246.63.

Fabrinet Stock Up 4.3 %

NYSE FN opened at $223.29 on Tuesday. The firm has a market cap of $8.10 billion, a P/E ratio of 24.98 and a beta of 0.92. Fabrinet has a 52-week low of $159.69 and a 52-week high of $281.79. The business’s 50-day moving average price is $227.23 and its 200 day moving average price is $233.57.

Fabrinet (NYSE:FN) last announced its earnings results on Monday, February 3rd. The technology company reported $2.38 earnings per share for the quarter, missing the consensus estimate of $2.48 by ($0.10). Fabrinet had a net margin of 10.44% and a return on equity of 18.48%. As a group, analysts anticipate that Fabrinet will post 9.4 earnings per share for the current year.

Hedge Funds Weigh In On Fabrinet

Hedge funds have recently bought and sold shares of the stock. Huntington National Bank boosted its stake in shares of Fabrinet by 70.4% during the third quarter. Huntington National Bank now owns 138 shares of the technology company’s stock valued at $33,000 after acquiring an additional 57 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Fabrinet during the third quarter worth about $52,000. Quarry LP increased its position in Fabrinet by 315.8% during the 4th quarter. Quarry LP now owns 237 shares of the technology company’s stock worth $52,000 after purchasing an additional 180 shares in the last quarter. Eastern Bank purchased a new position in shares of Fabrinet in the 3rd quarter valued at $59,000. Finally, Public Employees Retirement System of Ohio purchased a new position in Fabrinet in the third quarter valued at about $61,000. Hedge funds and other institutional investors 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.