Fabrinet (NYSE:FN – Get Free Report) has received an average rating of “Moderate Buy” from the seven ratings firms that are currently covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $148.57.
A number of equities research analysts recently issued reports on FN shares. JPMorgan Chase & Co. cut Fabrinet from an “overweight” rating to a “neutral” rating and boosted their price objective for the company from $185.00 to $210.00 in a research note on Monday, January 8th. Northland Securities cut Fabrinet from an “outperform” rating to a “market perform” rating and set a $200.00 price objective on the stock. in a report on Tuesday, February 6th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $230.00 price target on shares of Fabrinet in a research report on Tuesday, February 6th.
Check Out Our Latest Stock Report on Fabrinet
Insider Buying and Selling
Hedge Funds Weigh In On Fabrinet
Hedge funds have recently modified their holdings of the company. Capital International Investors increased its holdings in shares of Fabrinet by 108.1% in the first quarter. Capital International Investors now owns 1,529,864 shares of the technology company’s stock worth $160,835,000 after purchasing an additional 794,833 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in Fabrinet by 1,165.6% in the 1st quarter. Envestnet Asset Management Inc. now owns 625,576 shares of the technology company’s stock worth $6,388,000 after acquiring an additional 576,147 shares during the last quarter. Polar Capital Holdings Plc bought a new stake in Fabrinet in the 2nd quarter worth approximately $73,479,000. Congress Asset Management Co. MA purchased a new stake in shares of Fabrinet during the 4th quarter worth approximately $99,045,000. Finally, Baillie Gifford & Co. boosted its position in shares of Fabrinet by 190.0% during the 4th quarter. Baillie Gifford & Co. now owns 563,805 shares of the technology company’s stock valued at $107,309,000 after acquiring an additional 369,389 shares during the last quarter. 97.38% of the stock is currently owned by institutional investors.
Fabrinet Trading Up 1.1 %
Shares of FN stock opened at $200.17 on Wednesday. Fabrinet has a 1-year low of $90.19 and a 1-year high of $229.02. The stock has a 50-day moving average of $202.70 and a 200-day moving average of $180.20. The stock has a market cap of $7.27 billion, a price-to-earnings ratio of 28.93 and a beta of 1.05.
Fabrinet (NYSE:FN – Get Free Report) last announced its quarterly earnings results on Monday, February 5th. The technology company reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.84 by $0.05. The business had revenue of $712.69 million during the quarter, compared to analyst estimates of $699.76 million. Fabrinet had a net margin of 9.35% and a return on equity of 17.27%. Sell-side analysts forecast that Fabrinet will post 7.64 earnings per share 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.
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