Brokerages Set Fabrinet (NYSE:FN) PT at $254.43

Fabrinet (NYSE:FN) has earned an average rating of “Hold” from the seven research firms that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $252.14.

A number of research analysts have weighed in on FN shares. Needham & Company LLC began coverage on shares of Fabrinet in a research report on Tuesday, November 5th. They issued a “buy” rating and a $280.00 price objective for the company. B. Riley cut shares of Fabrinet from a “neutral” rating to a “sell” rating and dropped their price objective for the company from $194.00 to $178.00 in a research note on Wednesday. Rosenblatt Securities increased their price objective on shares of Fabrinet from $260.00 to $280.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. JPMorgan Chase & Co. increased their target price on shares of Fabrinet from $240.00 to $285.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Finally, Barclays assumed coverage on shares of Fabrinet in a report on Thursday, November 14th. They issued an “equal weight” rating and a $292.00 price objective on the stock.

Fabrinet Price Performance

Shares of NYSE FN opened at $226.24 on Monday. The company has a market cap of $8.21 billion, a P/E ratio of 26.77 and a beta of 0.95. Fabrinet has a 1 year low of $159.30 and a 1 year high of $278.38. The firm has a 50-day simple moving average of $243.63 and a two-hundred day simple moving average of $237.37.

Fabrinet (NYSE:FN) last posted its quarterly earnings results on Monday, November 4th. The technology company reported $2.39 earnings per share 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 revenue was up 17.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.78 earnings per share. As a group, equities research analysts expect that Fabrinet will post 9.1 EPS for the current year.

Insider Transactions at Fabrinet

In other Fabrinet news, CEO Seamus Grady sold 26,650 shares of Fabrinet stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $270.00, for a total value of $7,195,500.00. Following the completion of the sale, the chief executive officer now directly owns 37,643 shares in the company, valued at $10,163,610. The trade was a 41.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Csaba Sverha sold 100 shares of Fabrinet stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $270.00, for a total transaction of $27,000.00. Following the completion of the transaction, the chief financial officer now directly owns 19,347 shares in the company, valued at approximately $5,223,690. This represents a 0.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 44,728 shares of company stock valued at $11,645,062 in the last quarter. Insiders own 0.38% of the company’s stock.

Institutional Investors Weigh In On Fabrinet

Several institutional investors and hedge funds have recently bought and sold shares of the business. Opal Wealth Advisors LLC acquired a new stake in shares of Fabrinet in the 2nd quarter valued at $28,000. Huntington National Bank boosted its stake in shares of 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 in the last quarter. Banque Cantonale Vaudoise acquired a new stake in shares of Fabrinet in the 2nd quarter valued at $35,000. Kimelman & Baird LLC acquired a new position in Fabrinet during the 2nd quarter worth about $49,000. Finally, NBC Securities Inc. lifted its position in Fabrinet by 732.0% during the 3rd quarter. NBC Securities Inc. now owns 208 shares of the technology company’s stock worth $49,000 after buying an additional 183 shares in the last quarter. Institutional investors own 97.38% of the company’s stock.

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.