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

Shares of Fabrinet (NYSE:FNGet 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:FNGet 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.

Further Reading

Analyst Recommendations for Fabrinet (NYSE:FN)

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