Fabrinet (NYSE:FN) Receives $252.14 Consensus Target Price from Brokerages

Shares of Fabrinet (NYSE:FN) have received an average rating of “Hold” from the seven research firms that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $252.14.

A number of equities research analysts have recently weighed in on the company. Barclays initiated coverage on Fabrinet in a research report on Thursday, November 14th. They issued an “equal weight” rating and a $292.00 price objective on the stock. Needham & Company LLC assumed coverage on Fabrinet in a report on Tuesday, November 5th. They issued a “buy” rating and a $280.00 price objective for the company. Finally, B. Riley cut shares of Fabrinet from a “neutral” rating to a “sell” rating and dropped their target price for the company from $194.00 to $178.00 in a report on Wednesday, November 20th.

Fabrinet Stock Up 1.7 %

NYSE:FN opened at $233.16 on Tuesday. The firm has a market capitalization of $8.46 billion, a P/E ratio of 27.59 and a beta of 0.93. The company has a fifty day moving average of $235.20 and a 200 day moving average of $236.03. Fabrinet has a 52 week low of $159.69 and a 52 week high of $278.38.

Fabrinet (NYSE:FN) last issued its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $771.24 million. Fabrinet had a net margin of 10.28% and a return on equity of 18.08%. The company’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.78 earnings per share. As a group, analysts anticipate that Fabrinet will post 9.1 EPS for the current year.

Institutional Trading of Fabrinet

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

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.