Fabrinet (NYSE:FN) Upgraded to Buy by StockNews.com

StockNews.com upgraded shares of Fabrinet (NYSE:FNGet Rating) from a hold rating to a buy rating in a report issued on Friday.

A number of other research firms also recently commented on FN. B. Riley boosted their price objective on Fabrinet from $96.00 to $100.00 and gave the stock a neutral rating in a research note on Tuesday, February 1st. Loop Capital initiated coverage on Fabrinet in a research note on Monday, April 25th. They issued a buy rating and a $129.00 price objective on the stock. JPMorgan Chase & Co. boosted their price objective on Fabrinet from $115.00 to $125.00 and gave the stock a neutral rating in a research note on Thursday, January 20th. Finally, Zacks Investment Research raised Fabrinet from a hold rating to a buy rating and set a $108.00 price objective on the stock in a research note on Tuesday, April 19th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of Buy and a consensus price target of $109.75.

Shares of FN stock opened at $98.19 on Friday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.91 and a current ratio of 2.88. Fabrinet has a 1 year low of $77.30 and a 1 year high of $126.28. The stock has a fifty day moving average of $100.43 and a two-hundred day moving average of $107.45. The firm has a market capitalization of $3.63 billion, a PE ratio of 21.21 and a beta of 0.93.

Fabrinet (NYSE:FNGet Rating) last posted its quarterly earnings data on Monday, January 31st. The technology company reported $1.31 EPS for the quarter, topping the Zacks’ 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 company had revenue of $566.63 million for the quarter, compared to the consensus estimate of $555.77 million. During the same quarter in the previous year, the business earned $0.95 EPS. Equities research analysts predict that Fabrinet will post 5.22 earnings per share for the current fiscal year.

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

Hedge funds have recently modified their holdings of the company. McIlrath & Eck LLC grew its holdings in shares of Fabrinet by 33.1% during the third quarter. McIlrath & Eck LLC now owns 482 shares of the technology company’s stock valued at $49,000 after buying an additional 120 shares in the last quarter. Henry James International Management Inc. grew its holdings in shares of Fabrinet by 16.1% during the fourth quarter. Henry James International Management Inc. now owns 21,853 shares of the technology company’s stock valued at $2,589,000 after buying an additional 3,023 shares in the last quarter. Avantax Advisory Services Inc. grew its holdings in shares of Fabrinet by 27.2% during the fourth quarter. Avantax Advisory Services Inc. now owns 6,032 shares of the technology company’s stock valued at $715,000 after buying an additional 1,291 shares in the last quarter. State Board of Administration of Florida Retirement System grew its holdings in shares of Fabrinet by 4.8% during the third quarter. State Board of Administration of Florida Retirement System now owns 12,650 shares of the technology company’s stock valued at $1,297,000 after buying an additional 580 shares in the last quarter. Finally, Zacks Investment Management grew its holdings in shares of Fabrinet by 24.3% during the third quarter. Zacks Investment Management now owns 6,087 shares of the technology company’s stock valued at $624,000 after buying an additional 1,191 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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Analyst Recommendations for Fabrinet (NYSE:FN)

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