Fabrinet (NYSE:FN) Given Consensus Rating of “Hold” by Analysts

Shares of Fabrinet (NYSE:FN) have received an average rating of “Hold” from the seven analysts that are currently covering the company, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $219.00.

A number of research analysts recently weighed in on FN shares. JPMorgan Chase & Co. raised their target price 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. B. Riley raised their price objective on Fabrinet from $171.00 to $196.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Jefferies Financial Group initiated coverage on Fabrinet in a report on Wednesday, June 26th. They set a “hold” rating and a $230.00 target price on the stock. Needham & Company LLC raised their price target on Fabrinet from $270.00 to $280.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. Finally, Rosenblatt Securities upped their price objective on Fabrinet from $260.00 to $280.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th.

Insider Transactions at Fabrinet

In other Fabrinet news, EVP Edward T. Archer sold 8,690 shares of the company’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $220.26, for a total value of $1,914,059.40. Following the transaction, the executive vice president now directly owns 8,333 shares in the company, valued at $1,835,426.58. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Edward T. Archer sold 8,690 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $220.26, for a total value of $1,914,059.40. Following the transaction, the executive vice president now owns 8,333 shares of the company’s stock, valued at approximately $1,835,426.58. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Csaba Sverha sold 9,288 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $270.08, for a total value of $2,508,503.04. Following the transaction, the chief financial officer now owns 19,768 shares in the company, valued at approximately $5,338,941.44. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 44,728 shares of company stock worth $11,645,062. 0.51% of the stock is owned by company insiders.

Hedge Funds Weigh In On Fabrinet

Institutional investors and hedge funds have recently modified their holdings of the business. Opal Wealth Advisors LLC acquired a new stake in Fabrinet during the second quarter worth approximately $28,000. Banque Cantonale Vaudoise acquired a new stake in shares of Fabrinet during the 2nd quarter worth $35,000. Kimelman & Baird LLC acquired a new position in Fabrinet in the second quarter valued at about $49,000. NBC Securities Inc. lifted its position in Fabrinet by 732.0% during the third quarter. NBC Securities Inc. now owns 208 shares of the technology company’s stock worth $49,000 after purchasing an additional 183 shares during the period. Finally, UMB Bank n.a. grew its stake in Fabrinet by 252.9% during the third quarter. UMB Bank n.a. now owns 240 shares of the technology company’s stock worth $57,000 after buying an additional 172 shares in the last quarter. 97.38% of the stock is currently owned by institutional investors and hedge funds.

Fabrinet Price Performance

FN stock opened at $246.65 on Thursday. The stock has a market capitalization of $8.92 billion, a P/E ratio of 32.76 and a beta of 0.95. Fabrinet has a fifty-two week low of $149.19 and a fifty-two week high of $278.38. The business has a 50-day moving average of $239.85 and a 200-day moving average of $226.95.

Fabrinet (NYSE:FN) last released its earnings results on Monday, August 19th. The technology company reported $2.41 EPS for the quarter, beating the consensus estimate of $2.06 by $0.35. Fabrinet had a return on equity of 18.10% and a net margin of 10.27%. The firm had revenue of $753.26 million for the quarter, compared to analysts’ expectations of $732.63 million. During the same quarter in the previous year, the business posted $1.68 EPS. The business’s quarterly revenue was up 14.8% compared to the same quarter last year. Equities analysts expect that Fabrinet will post 9.11 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.