Brokerages Set Fabrinet (NYSE:FN) Price Target at $246.63

Shares of Fabrinet (NYSE:FN) have received a consensus rating of “Hold” from the eight brokerages that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $246.63.

Several equities research analysts recently commented on FN shares. B. Riley lowered shares of Fabrinet from a “neutral” rating to a “sell” rating and cut their price target for the stock from $194.00 to $178.00 in a research note on Wednesday, November 20th. Barclays dropped their price objective on shares of Fabrinet from $292.00 to $245.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 4th. JPMorgan Chase & Co. dropped their price objective on shares of Fabrinet from $275.00 to $265.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 4th. Fox Advisors began coverage on shares of Fabrinet in a research note on Tuesday, February 18th. They issued an “overweight” rating and a $270.00 price objective on the stock. Finally, Rosenblatt Securities lifted their price objective on shares of Fabrinet from $280.00 to $285.00 and gave the company a “buy” rating in a research note on Tuesday, February 4th.

Hedge Funds Weigh In On Fabrinet

Several institutional investors and hedge funds have recently modified their holdings of FN. Cynosure Group LLC raised its holdings in Fabrinet by 3.4% in 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. Assetmark Inc. lifted its position in Fabrinet by 12.0% during the fourth quarter. Assetmark Inc. now owns 484 shares of the technology company’s stock worth $106,000 after buying an additional 52 shares during the period. Huntington National Bank boosted its stake in Fabrinet by 70.4% in the 3rd quarter. Huntington National Bank now owns 138 shares of the technology company’s stock worth $33,000 after buying an additional 57 shares during the last quarter. CIBC Asset Management Inc boosted its stake in Fabrinet by 5.7% in the 4th quarter. CIBC Asset Management Inc now owns 1,113 shares of the technology company’s stock worth $245,000 after buying an additional 60 shares during the last quarter. Finally, Nations Financial Group Inc. IA ADV grew its holdings in Fabrinet by 2.4% in the 4th quarter. Nations Financial Group Inc. IA ADV now owns 2,941 shares of the technology company’s stock valued at $647,000 after buying an additional 68 shares during the period. Hedge funds and other institutional investors own 97.38% of the company’s stock.

Fabrinet Trading Up 2.0 %

Fabrinet stock opened at $199.19 on Wednesday. The stock has a market cap of $7.22 billion, a P/E ratio of 22.28 and a beta of 0.92. The company has a fifty day simple moving average of $223.90 and a 200-day simple moving average of $234.20. Fabrinet has a 12-month low of $159.69 and a 12-month high of $281.79.

Fabrinet (NYSE:FN) last released its quarterly earnings data on Monday, February 3rd. The technology company reported $2.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.48 by ($0.10). Fabrinet had a return on equity of 18.48% and a net margin of 10.44%. As a group, sell-side analysts forecast that Fabrinet will post 9.4 earnings per share for the current fiscal 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.