Shares of Fabrinet (NYSE:FN) fell 4.9% on Tuesday . The stock traded as low as $38.29 and last traded at $40.22, with a volume of 2,583,196 shares. The stock had previously closed at $42.30.

Several brokerages have weighed in on FN. JPMorgan Chase & Co. upped their price objective on shares of Fabrinet from $42.00 to $48.00 and gave the stock an “overweight” rating in a research note on Tuesday. Stifel Nicolaus upped their price objective on shares of Fabrinet from $40.00 to $48.00 and gave the stock a “buy” rating in a research note on Tuesday. Piper Jaffray Cos. reaffirmed an “overweight” rating and set a $50.00 price objective (up from $44.00) on shares of Fabrinet in a research note on Tuesday. Needham & Company LLC upped their price objective on shares of Fabrinet from $48.00 to $54.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, B. Riley reaffirmed a “buy” rating and set a $42.25 price objective on shares of Fabrinet in a research note on Friday. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $44.32.

The firm has a market cap of $1.43 billion and a price-to-earnings ratio of 26.37. The firm’s 50-day moving average is $37.53 and its 200 day moving average is $33.23.

Fabrinet (NYSE:FN) last issued its quarterly earnings data on Monday, August 15th. The company reported $0.60 earnings per share for the quarter, hitting the consensus estimate of $0.60. The business earned $276.40 million during the quarter, compared to analyst estimates of $262.95 million. During the same quarter last year, the firm earned $0.40 EPS. Fabrinet’s revenue for the quarter was up 33.8% compared to the same quarter last year. Equities research analysts predict that Fabrinet will post $2.54 EPS for the current fiscal year.

In other news, Director Homa Bahrami sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, May 26th. The shares were sold at an average price of $35.34, for a total value of $176,700.00. Following the completion of the transaction, the director now directly owns 18,616 shares in the company, valued at approximately $657,889.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Frank H. Levinson sold 19,942 shares of the business’s stock in a transaction that occurred on Tuesday, May 24th. The shares were sold at an average price of $33.50, for a total transaction of $668,057.00. Following the completion of the transaction, the director now owns 53,887 shares of the company’s stock, valued at $1,805,214.50. The disclosure for this sale can be found here.

Several institutional investors have recently modified their holdings of FN. Rhumbline Advisers boosted its position in shares of Fabrinet by 4.2% in the fourth quarter. Rhumbline Advisers now owns 52,330 shares of the company’s stock valued at $1,247,000 after buying an additional 2,125 shares during the last quarter. Argent Capital Management LLC bought a new stake in shares of Fabrinet during the fourth quarter valued at about $1,285,000. US Bancorp DE raised its stake in shares of Fabrinet by 65.0% in the fourth quarter. US Bancorp DE now owns 62,187 shares of the company’s stock valued at $1,481,000 after buying an additional 24,498 shares during the period. Finally, California Public Employees Retirement System raised its stake in shares of Fabrinet by 16.1% in the fourth quarter. California Public Employees Retirement System now owns 188,700 shares of the company’s stock valued at $4,495,000 after buying an additional 26,200 shares during the period.

Fabrinet provides optical packaging and precision optical, electro-mechanical and electronic manufacturing services to original equipment manufacturers (OEMs) of complex products, such as optical communication components, modules and sub-systems, industrial lasers, medical devices and sensors. The Company offers a range of optical and electro-mechanical capabilities across the entire manufacturing process, including process design and engineering, supply chain management, manufacturing, complex printed circuit board assembly, advanced packaging, integration, final assembly and test.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.