Analysts Set Fabrinet (NYSE:FN) PT at $250.43

Fabrinet (NYSE:FN) has received a consensus rating of “Hold” from the seven research firms that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $250.43.

A number of analysts have recently commented on FN shares. JPMorgan Chase & Co. dropped their price objective on Fabrinet from $275.00 to $265.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 4th. Barclays dropped 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. Rosenblatt Securities reissued a “buy” rating and issued a $285.00 price target on shares of Fabrinet in a report on Friday, March 14th. Fox Advisors initiated 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, Needham & Company LLC reissued a “buy” rating and set a $280.00 target price on shares of Fabrinet in a research note on Monday, March 17th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Barclays PLC lifted its position in shares of Fabrinet by 304.6% in the 3rd quarter. Barclays PLC now owns 69,128 shares of the technology company’s stock valued at $16,345,000 after acquiring an additional 52,042 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Fabrinet by 14.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 480,550 shares of the technology company’s stock valued at $113,621,000 after purchasing an additional 61,491 shares during the period. Pathstone Holdings LLC lifted its holdings in shares of Fabrinet by 40.7% in the third quarter. Pathstone Holdings LLC now owns 8,219 shares of the technology company’s stock valued at $1,943,000 after purchasing an additional 2,378 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Fabrinet in the third quarter worth $2,398,000. Finally, Freedom Investment Management Inc. boosted its position in shares of Fabrinet by 106.2% in the third quarter. Freedom Investment Management Inc. now owns 4,969 shares of the technology company’s stock worth $1,175,000 after buying an additional 2,559 shares during the period. 97.38% of the stock is currently owned by institutional investors and hedge funds.

Fabrinet Stock Down 3.7 %

Shares of FN opened at $222.77 on Friday. The firm has a market capitalization of $8.08 billion, a PE ratio of 24.92 and a beta of 0.89. The firm has a 50-day moving average price of $218.64 and a 200 day moving average price of $230.46. Fabrinet has a 52-week low of $159.69 and a 52-week high of $281.79.

Fabrinet (NYSE:FN) last posted 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 net margin of 10.44% and a return on equity of 18.48%. On average, equities analysts expect that Fabrinet will post 9.4 EPS 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.