Fabrinet (NYSE:FN) Research Coverage Started at Loop Capital

Equities research analysts at Loop Capital started coverage on shares of Fabrinet (NYSE:FN – Get Rating) in a research report issued to clients and investors on Monday, The Fly reports. The brokerage set a “buy” rating on the technology company’s stock.

Several other research analysts have also recently issued reports on the company. Zacks Investment Research raised Fabrinet from a “hold” rating to a “buy” rating and set a $108.00 price target on the stock in a report on Tuesday, April 19th. JPMorgan Chase & Co. upped their price target on Fabrinet from $115.00 to $125.00 and gave the company a “neutral” rating in a report on Thursday, January 20th. B. Riley upped their price target on Fabrinet from $96.00 to $100.00 and gave the company a “neutral” rating in a report on Tuesday, February 1st. Finally, StockNews.com started coverage on Fabrinet in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Fabrinet currently has an average rating of “Buy” and an average price target of $107.00.

NYSE:FN traded up $1.89 during midday trading on Monday, hitting $99.55. 123,577 shares of the stock were exchanged, compared to its average volume of 193,366. Fabrinet has a one year low of $77.30 and a one year high of $126.28. The company has a market capitalization of $3.68 billion, a price-to-earnings ratio of 21.50 and a beta of 0.93. The business has a 50-day moving average price of $100.81 and a two-hundred day moving average price of $107.63. The company has a current ratio of 2.88, a quick ratio of 1.91 and a debt-to-equity ratio of 0.02.

Fabrinet (NYSE:FN – Get Rating) last announced its earnings results on Monday, January 31st. The technology company reported $1.31 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.29 by $0.02. Fabrinet had a return on equity of 15.49% and a net margin of 8.26%. The firm had revenue of $566.63 million for the quarter, compared to analysts’ expectations of $555.77 million. During the same quarter in the previous year, the company earned $0.95 earnings per share. Sell-side analysts forecast that Fabrinet will post 5.22 EPS for the current fiscal year.

In other Fabrinet news, EVP Edward T. Archer sold 2,146 shares of the business’s stock in a transaction on Tuesday, March 1st. The shares were sold at an average price of $98.73, for a total transaction of $211,874.58. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.42% of the stock is owned by insiders.

Several institutional investors have recently bought and sold shares of the company. Louisiana State Employees Retirement System grew its holdings in shares of Fabrinet by 0.6% during the 4th quarter. Louisiana State Employees Retirement System now owns 17,900 shares of the technology company’s stock valued at $2,121,000 after acquiring an additional 100 shares in the last quarter. McIlrath & Eck LLC grew its holdings in shares of Fabrinet by 33.1% during the 3rd quarter. McIlrath & Eck LLC now owns 482 shares of the technology company’s stock valued at $49,000 after acquiring an additional 120 shares in the last quarter. Mutual of America Capital Management LLC grew its holdings in shares of Fabrinet by 2.8% during the 4th quarter. Mutual of America Capital Management LLC now owns 5,057 shares of the technology company’s stock valued at $599,000 after acquiring an additional 138 shares in the last quarter. DB Fitzpatrick & Co Inc grew its holdings in shares of Fabrinet by 1.5% during the 1st quarter. DB Fitzpatrick & Co Inc now owns 10,498 shares of the technology company’s stock valued at $1,104,000 after acquiring an additional 152 shares in the last quarter. Finally, Ellsworth Advisors LLC grew its holdings in shares of Fabrinet by 3.3% during the 4th quarter. Ellsworth Advisors LLC now owns 5,078 shares of the technology company’s stock valued at $602,000 after acquiring an additional 160 shares in the last quarter. Institutional investors and hedge funds own 96.16% of the company’s stock.

Fabrinet Company Profile (Get Rating)

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.

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