Fabrinet (NYSE:FN) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Fabrinet (NYSE:FN) have earned a consensus recommendation of “Moderate Buy” from the eight ratings firms that are covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $161.00.

Several equities analysts recently commented on the stock. JPMorgan Chase & Co. upped their price target on shares of Fabrinet from $210.00 to $212.00 and gave the company a “neutral” rating in a research note on Thursday, April 11th. Needham & Company LLC reissued a “buy” rating and set a $220.00 price target on shares of Fabrinet in a research note on Tuesday. Rosenblatt Securities reiterated a “buy” rating and set a $230.00 price target on shares of Fabrinet in a report on Tuesday, February 6th. B. Riley decreased their price objective on shares of Fabrinet from $173.00 to $171.00 and set a “neutral” rating for the company in a research report on Tuesday. Finally, Northland Securities raised shares of Fabrinet from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $200.00 to $220.00 in a research note on Thursday, March 21st.

Insider Activity

In related news, Director Rollance E. Olson sold 10,000 shares of Fabrinet stock in a transaction on Monday, February 12th. The stock was sold at an average price of $205.52, for a total transaction of $2,055,200.00. Following the sale, the director now directly owns 25,981 shares in the company, valued at $5,339,615.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.51% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Fabrinet

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State Board of Administration of Florida Retirement System lifted its holdings in Fabrinet by 9.3% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 11,490 shares of the technology company’s stock worth $2,172,000 after purchasing an additional 980 shares in the last quarter. TD Asset Management Inc boosted its position in shares of Fabrinet by 216.1% during the 1st quarter. TD Asset Management Inc now owns 409,761 shares of the technology company’s stock valued at $77,453,000 after acquiring an additional 280,145 shares during the last quarter. ProShare Advisors LLC grew its stake in Fabrinet by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 7,412 shares of the technology company’s stock worth $1,401,000 after buying an additional 510 shares in the last quarter. US Bancorp DE lifted its holdings in shares of Fabrinet by 15.9% during the 1st quarter. US Bancorp DE now owns 12,755 shares of the technology company’s stock worth $2,411,000 after acquiring an additional 1,750 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its position in shares of Fabrinet by 279.5% during the 1st quarter. Russell Investments Group Ltd. now owns 22,294 shares of the technology company’s stock valued at $4,214,000 after purchasing an additional 16,420 shares during the last quarter. 97.38% of the stock is currently owned by institutional investors.

Fabrinet Stock Up 1.0 %

NYSE:FN opened at $211.44 on Thursday. Fabrinet has a 12-month low of $90.19 and a 12-month high of $229.02. The firm has a market capitalization of $7.68 billion, a price-to-earnings ratio of 30.55 and a beta of 1.04. The stock’s 50 day moving average price is $189.91 and its two-hundred day moving average price is $185.95.

Fabrinet (NYSE:FN) last announced its earnings results on Monday, February 5th. The technology company reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.84 by $0.05. The company had revenue of $712.69 million for the quarter, compared to analyst estimates of $699.76 million. Fabrinet had a return on equity of 17.27% and a net margin of 9.35%. Equities research analysts expect that Fabrinet will post 7.59 EPS for the current year.

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.