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.