Fabrinet’s (FN) Buy Rating Reiterated at Needham & Company LLC

Fabrinet (NYSE:FN)‘s stock had its “buy” rating reaffirmed by stock analysts at Needham & Company LLC in a research note issued to investors on Tuesday,Benzinga reports. They presently have a $280.00 target price on the technology company’s stock. Needham & Company LLC’s target price indicates a potential upside of 23.43% from the stock’s previous close.

A number of other research firms have also recently commented on FN. Barclays cut their target price on Fabrinet from $292.00 to $245.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Rosenblatt Securities increased their target price on Fabrinet from $280.00 to $285.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, B. Riley lowered shares of Fabrinet from a “neutral” rating to a “sell” rating and lowered their target price for the company from $194.00 to $178.00 in a research note on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Fabrinet presently has a consensus rating of “Hold” and an average price target of $246.14.

Fabrinet Trading Up 4.9 %

Shares of NYSE:FN opened at $226.85 on Tuesday. The company has a market cap of $8.23 billion, a price-to-earnings ratio of 26.85 and a beta of 0.92. Fabrinet has a 12 month low of $159.69 and a 12 month high of $281.79. The company has a 50-day moving average price of $231.04 and a 200 day moving average price of $234.45.

Fabrinet (NYSE:FN) last posted its quarterly earnings data on Monday, February 3rd. The technology company reported $2.38 EPS for the quarter, missing the consensus estimate of $2.48 by ($0.10). Fabrinet had a return on equity of 18.08% and a net margin of 10.28%. As a group, equities analysts forecast that Fabrinet will post 9.1 EPS for the current year.

Institutional Investors Weigh In On Fabrinet

A number of hedge funds have recently made changes to their positions in the stock. Barclays PLC lifted its position in shares of Fabrinet by 304.6% during the third quarter. Barclays PLC now owns 69,128 shares of the technology company’s stock valued at $16,345,000 after buying an additional 52,042 shares during the last quarter. nVerses Capital LLC acquired a new stake in Fabrinet in the third quarter valued at approximately $567,000. Charles Schwab Investment Management Inc. grew its holdings in Fabrinet by 14.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 480,550 shares of the technology company’s stock worth $113,621,000 after purchasing an additional 61,491 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Fabrinet during the third quarter worth $2,398,000. Finally, Pathstone Holdings LLC lifted its holdings in shares of Fabrinet by 40.7% during the 3rd 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 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.