Shares of Fabrinet (NYSE:FN) saw an uptick in trading volume on Monday . 1,002,725 shares traded hands during trading, an increase of 76% from the previous session’s volume of 568,244 shares.The stock last traded at $42.03 and had previously closed at $40.59.

Several research firms have recently weighed in on FN. B. Riley restated a “buy” rating and set a $52.75 price objective on shares of Fabrinet in a research report on Wednesday. JPMorgan Chase & Co. raised their target price on shares of Fabrinet from $42.00 to $48.00 and gave the stock an “overweight” rating in a report on Tuesday. Piper Jaffray Cos. reiterated an “overweight” rating and issued a $50.00 target price (up from $44.00) on shares of Fabrinet in a report on Tuesday. Needham & Company LLC raised their target price on shares of Fabrinet from $48.00 to $54.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Stifel Nicolaus raised their target price on shares of Fabrinet from $40.00 to $48.00 and gave the stock a “buy” rating in a report on Tuesday. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Fabrinet presently has an average rating of “Buy” and a consensus target price of $45.82.

The company has a market capitalization of $1.46 billion and a price-to-earnings ratio of 23.985. The stock has a 50 day moving average price of $37.69 and a 200-day moving average price of $33.34.

Fabrinet (NYSE:FN) last released its quarterly earnings results on Monday, August 15th. The company reported $0.60 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.60. The business earned $276.40 million during the quarter, compared to the consensus estimate of $262.95 million. During the same period in the prior year, the firm earned $0.40 earnings per share. The business’s quarterly revenue was up 33.8% compared to the same quarter last year. On average, equities research analysts anticipate that Fabrinet will post $2.80 EPS for the current fiscal year.

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

A number of hedge funds have recently made changes to their positions in the company. California Public Employees Retirement System boosted 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 in the last quarter. Argent Capital Management LLC purchased a new stake in shares of Fabrinet during the fourth quarter valued at $1,285,000. Rhumbline Advisers boosted its stake 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 in the last quarter. Finally, US Bancorp DE boosted 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 in the last quarter.

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.

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