Analysts Set Fabrinet (NYSE:FN) Target Price at $109.25

Shares of Fabrinet (NYSE:FN – Get Rating) have received an average recommendation of “Buy” from the ten research firms that are currently covering the stock, MarketBeat.com reports. Four analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $109.25.

FN has been the topic of several recent research reports. Loop Capital began coverage on shares of Fabrinet in a report on Monday, April 25th. They set a “buy” rating and a $129.00 price objective on the stock. B. Riley decreased their price target on Fabrinet from $100.00 to $96.00 in a research report on Tuesday, May 3rd. StockNews.com cut Fabrinet from a “buy” rating to a “hold” rating in a research report on Monday, May 9th. Zacks Investment Research upgraded Fabrinet from a “hold” rating to a “buy” rating and set a $108.00 price target on the stock in a research report on Tuesday, April 19th. Finally, JPMorgan Chase & Co. upped their price target on Fabrinet from $115.00 to $125.00 and gave the company a “neutral” rating in a research report on Thursday, January 20th.

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

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Charles Schwab Investment Management Inc. grew its position in Fabrinet by 3.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 346,665 shares of the technology company’s stock valued at $36,445,000 after acquiring an additional 12,009 shares during the last quarter. Divisar Capital Management LLC grew its position in Fabrinet by 7.7% during the first quarter. Divisar Capital Management LLC now owns 115,734 shares of the technology company’s stock valued at $12,167,000 after acquiring an additional 8,310 shares during the last quarter. Employees Retirement System of Texas grew its position in Fabrinet by 90.9% during the first quarter. Employees Retirement System of Texas now owns 21,000 shares of the technology company’s stock valued at $2,208,000 after acquiring an additional 10,000 shares during the last quarter. Analog Century Management LP grew its position in Fabrinet by 6.6% during the first quarter. Analog Century Management LP now owns 71,365 shares of the technology company’s stock valued at $7,503,000 after acquiring an additional 4,400 shares during the last quarter. Finally, American Beacon Advisors Inc. bought a new position in Fabrinet during the first quarter valued at approximately $326,000. Institutional investors and hedge funds own 95.89% of the company’s stock.

NYSE FN opened at $90.74 on Friday. The company has a market cap of $3.34 billion, a PE ratio of 18.22 and a beta of 0.93. Fabrinet has a 52 week low of $79.00 and a 52 week high of $126.28. The company has a quick ratio of 2.02, a current ratio of 2.92 and a debt-to-equity ratio of 0.01. The firm’s 50-day simple moving average is $98.78 and its two-hundred day simple moving average is $106.97.

Fabrinet (NYSE:FN – Get Rating) last released its quarterly earnings data on Monday, May 2nd. The technology company reported $1.50 EPS for the quarter, missing the consensus estimate of $1.52 by ($0.02). Fabrinet had a net margin of 8.54% and a return on equity of 16.00%. During the same quarter in the previous year, the company earned $1.03 EPS. As a group, equities research analysts anticipate that Fabrinet will post 5.29 EPS for the current year.

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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