Fabrinet (NYSE:FN) Now Covered by Analysts at Fox Advisors

Stock analysts at Fox Advisors started coverage on shares of Fabrinet (NYSE:FN) in a research report issued to clients and investors on Tuesday,Briefing.com Automated Import reports. The firm set an “overweight” rating and a $270.00 price target on the technology company’s stock. Fox Advisors’ target price would suggest a potential upside of 20.92% from the stock’s current price.

Other research analysts have also recently issued research reports about the stock. 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. Barclays dropped their price target on shares of Fabrinet from $292.00 to $245.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 4th. Rosenblatt Securities increased their price objective on Fabrinet from $280.00 to $285.00 and gave the company a “buy” rating in a research note on Tuesday, February 4th. B. Riley cut Fabrinet from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $194.00 to $178.00 in a research note on Wednesday, November 20th. Finally, JPMorgan Chase & Co. reduced their price target on Fabrinet from $275.00 to $265.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 4th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $246.63.

Fabrinet Stock Up 4.3 %

NYSE:FN opened at $223.29 on Tuesday. Fabrinet has a 52 week low of $159.69 and a 52 week high of $281.79. The stock’s fifty day moving average is $227.23 and its two-hundred day moving average is $233.57. The stock has a market capitalization of $8.10 billion, a price-to-earnings ratio of 24.98 and a beta of 0.92.

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, sell-side analysts expect that Fabrinet will post 9.4 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Fabrinet by 2.8% during the 4th quarter. Vanguard Group Inc. now owns 4,137,579 shares of the technology company’s stock worth $909,771,000 after acquiring an additional 113,186 shares in the last quarter. FMR LLC raised its holdings in Fabrinet by 13.1% during the fourth quarter. FMR LLC now owns 2,213,887 shares of the technology company’s stock worth $486,789,000 after purchasing an additional 257,164 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Fabrinet by 1.7% during the 3rd quarter. Wellington Management Group LLP now owns 1,169,162 shares of the technology company’s stock worth $276,437,000 after buying an additional 19,677 shares during the last quarter. Wasatch Advisors LP lifted its position in shares of Fabrinet by 47.0% during the 4th quarter. Wasatch Advisors LP now owns 1,132,636 shares of the technology company’s stock worth $249,044,000 after buying an additional 362,064 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Fabrinet by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 1,006,858 shares of the technology company’s stock valued at $221,430,000 after buying an additional 20,045 shares in the last quarter. 97.38% of the stock is owned by institutional investors and hedge funds.

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.