Fabrinet’s (FN) “Buy” Rating Reaffirmed at Rosenblatt Securities

Rosenblatt Securities reiterated their buy rating on shares of Fabrinet (NYSE:FN) in a research report sent to investors on Friday morning,Benzinga reports. They currently have a $285.00 price target on the technology company’s stock.

FN has been the topic of a number of other reports. Fox Advisors began coverage on Fabrinet in a research note on Tuesday, February 18th. They set an “overweight” rating and a $270.00 price target on the stock. B. Riley lowered Fabrinet from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $194.00 to $178.00 in a research note on Wednesday, November 20th. JPMorgan Chase & Co. dropped their target price on Fabrinet from $275.00 to $265.00 and set a “neutral” rating for the company in a research report on Tuesday, February 4th. Barclays reduced their price target on shares of Fabrinet from $292.00 to $245.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 4th. Finally, Needham & Company LLC restated a “buy” rating and issued a $280.00 price objective on shares of Fabrinet in a report on Tuesday, February 4th. One analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Fabrinet currently has an average rating of “Hold” and an average target price of $246.63.

Fabrinet Trading Down 1.3 %

NYSE FN opened at $220.85 on Friday. The stock has a market cap of $8.01 billion, a PE ratio of 24.70 and a beta of 0.89. Fabrinet has a twelve month low of $159.69 and a twelve month high of $281.79. The stock has a fifty day simple moving average of $219.44 and a 200-day simple moving average of $230.79.

Fabrinet (NYSE:FN) last announced its quarterly earnings results on Monday, February 3rd. The technology company reported $2.38 earnings per share for the quarter, missing analysts’ consensus estimates of $2.48 by ($0.10). Fabrinet had a net margin of 10.44% and a return on equity of 18.48%. Research analysts predict that Fabrinet will post 9.4 EPS for the current year.

Institutional Trading of Fabrinet

A number of large investors have recently made changes to their positions in FN. Cynosure Group LLC increased its position in 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 buying an additional 51 shares during the period. Assetmark Inc. increased its holdings in shares of Fabrinet by 12.0% in the 4th quarter. Assetmark Inc. now owns 484 shares of the technology company’s stock valued at $106,000 after acquiring an additional 52 shares during the period. Huntington National Bank raised its position 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 purchasing an additional 57 shares during the last quarter. CIBC Asset Management Inc boosted its stake in Fabrinet by 5.7% during the 4th quarter. CIBC Asset Management Inc now owns 1,113 shares of the technology company’s stock worth $245,000 after purchasing an additional 60 shares during the period. Finally, Nations Financial Group Inc. IA ADV grew its position in Fabrinet by 2.4% during the 4th quarter. Nations Financial Group Inc. IA ADV now owns 2,941 shares of the technology company’s stock worth $647,000 after purchasing an additional 68 shares during the last quarter. 97.38% of the stock is currently owned by hedge funds and other institutional investors.

About Fabrinet

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.