Fabrinet (NYSE:FN) Receives Average Rating of “Hold” from Analysts

Fabrinet (NYSE:FN) has earned an average recommendation of “Hold” from the seven ratings firms that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation and three have given a buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $243.29.

Several analysts have recently issued reports on FN shares. 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. B. Riley lowered Fabrinet from a “neutral” rating to a “sell” rating and cut their price target for the stock from $194.00 to $178.00 in a research report on Wednesday, November 20th. Barclays reduced their price objective on Fabrinet from $292.00 to $245.00 and set an “equal weight” rating for the company in a research note on Tuesday. JPMorgan Chase & Co. lowered their price objective on Fabrinet from $275.00 to $265.00 and set a “neutral” rating on the stock in a report on Tuesday. Finally, Needham & Company LLC restated a “buy” rating and set a $280.00 target price on shares of Fabrinet in a research report on Tuesday.

Institutional Investors Weigh In On Fabrinet

Several institutional investors have recently bought and sold shares of FN. Legacy Wealth Asset Management LLC increased its position in shares of Fabrinet by 3.2% in the third quarter. Legacy Wealth Asset Management LLC now owns 1,375 shares of the technology company’s stock worth $325,000 after acquiring an additional 43 shares in the last quarter. Wolff Wiese Magana LLC increased its holdings in Fabrinet by 2.7% in the third quarter. Wolff Wiese Magana LLC now owns 1,765 shares of the technology company’s stock worth $417,000 after buying an additional 47 shares during the last quarter. Cynosure Group LLC lifted its stake in shares of Fabrinet by 3.4% in the 3rd quarter. Cynosure Group LLC now owns 1,560 shares of the technology company’s stock valued at $369,000 after purchasing an additional 51 shares during the last quarter. Assetmark Inc. boosted its stake in shares of Fabrinet by 12.0% during the 4th quarter. Assetmark Inc. now owns 484 shares of the technology company’s stock worth $106,000 after acquiring an additional 52 shares in the last quarter. Finally, Trust Point Inc. boosted its holdings in shares of Fabrinet by 4.7% during the 3rd quarter. Trust Point Inc. now owns 1,272 shares of the technology company’s stock worth $301,000 after buying an additional 57 shares during the period. Institutional investors and hedge funds own 97.38% of the company’s stock.

Fabrinet Price Performance

Fabrinet stock opened at $212.43 on Friday. The firm has a 50 day simple moving average of $230.11 and a 200-day simple moving average of $233.94. The stock has a market cap of $7.70 billion, a price-to-earnings ratio of 25.14 and a beta of 0.92. Fabrinet has a 1-year low of $159.69 and a 1-year high of $281.79.

Fabrinet (NYSE:FN) last posted its earnings results 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 return on equity of 18.08% and a net margin of 10.28%. Equities analysts expect that Fabrinet will post 9.1 earnings per share for the current fiscal year.

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.