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

Shares of Fabrinet (NYSE:FNGet Free Report) have been given a consensus rating of “Hold” by the seven research firms that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and three have given a buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $252.14.

Several equities research analysts recently weighed in on the company. Needham & Company LLC initiated coverage on Fabrinet in a research note on Tuesday, November 5th. They set a “buy” rating and a $280.00 target price for the company. Rosenblatt Securities boosted their price objective on shares of Fabrinet from $260.00 to $280.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. Barclays initiated coverage on shares of Fabrinet in a research report on Thursday, November 14th. They issued an “equal weight” rating and a $292.00 target price on the stock. JPMorgan Chase & Co. boosted their price target on shares of Fabrinet from $240.00 to $285.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Finally, B. Riley downgraded shares of Fabrinet from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $194.00 to $178.00 in a research note on Wednesday, November 20th.

Read Our Latest Analysis on Fabrinet

Hedge Funds Weigh In On Fabrinet

A number of hedge funds and other institutional investors have recently made changes to their positions in FN. Legacy Wealth Asset Management LLC lifted its position in Fabrinet by 3.2% during the 3rd quarter. Legacy Wealth Asset Management LLC now owns 1,375 shares of the technology company’s stock worth $325,000 after acquiring an additional 43 shares during the period. Wolff Wiese Magana LLC raised its stake in shares of Fabrinet by 2.7% during the third quarter. Wolff Wiese Magana LLC now owns 1,765 shares of the technology company’s stock worth $417,000 after purchasing an additional 47 shares during the last quarter. Cynosure Group LLC lifted its holdings in shares of Fabrinet by 3.4% during the third quarter. Cynosure Group LLC now owns 1,560 shares of the technology company’s stock worth $369,000 after purchasing an additional 51 shares during the period. Trust Point Inc. grew its position in Fabrinet by 4.7% in the 3rd quarter. Trust Point Inc. now owns 1,272 shares of the technology company’s stock valued at $301,000 after buying an additional 57 shares during the last quarter. Finally, Huntington National Bank increased its stake in Fabrinet by 70.4% in the 3rd quarter. Huntington National Bank now owns 138 shares of the technology company’s stock valued at $33,000 after buying an additional 57 shares during the period. Hedge funds and other institutional investors own 97.38% of the company’s stock.

Fabrinet Stock Up 2.3 %

NYSE FN opened at $245.82 on Friday. Fabrinet has a 52 week low of $159.69 and a 52 week high of $278.38. The firm has a 50 day moving average of $244.67 and a two-hundred day moving average of $238.14. The stock has a market capitalization of $8.92 billion, a PE ratio of 29.09 and a beta of 0.92.

Fabrinet (NYSE:FNGet Free Report) last posted its earnings results on Monday, November 4th. The technology company reported $2.39 EPS for the quarter, beating the consensus estimate of $2.38 by $0.01. The firm had revenue of $804.20 million for the quarter, compared to analyst estimates of $771.24 million. Fabrinet had a return on equity of 18.08% and a net margin of 10.28%. Fabrinet’s revenue for the quarter was up 17.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.78 earnings per share. On average, equities research analysts expect that Fabrinet will post 9.1 earnings per share for the current fiscal year.

About Fabrinet

(Get Free Report

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.

Read More

Analyst Recommendations for Fabrinet (NYSE:FN)

Receive News & Ratings for Fabrinet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fabrinet and related companies with MarketBeat.com's FREE daily email newsletter.