Fabrinet (NYSE:FN) Receives $159.57 Consensus PT from Brokerages

Shares of Fabrinet (NYSE:FN) have been assigned a consensus rating of “Moderate Buy” from the seven research firms that are currently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $159.57.

Several research firms have recently weighed in on FN. JPMorgan Chase & Co. lifted their price objective on shares of Fabrinet from $210.00 to $212.00 and gave the company a “neutral” rating in a research note on Thursday, April 11th. Rosenblatt Securities reiterated a “buy” rating and set a $230.00 price objective on shares of Fabrinet in a report on Tuesday, February 6th. Northland Securities raised Fabrinet from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $200.00 to $220.00 in a research report on Thursday, March 21st. Finally, Needham & Company LLC cut their price target on Fabrinet from $230.00 to $220.00 and set a “buy” rating on the stock in a report on Friday, March 22nd.

Fabrinet Stock Up 2.9 %

Shares of NYSE FN opened at $179.22 on Thursday. The company has a market capitalization of $6.51 billion, a PE ratio of 25.90 and a beta of 1.04. Fabrinet has a twelve month low of $90.19 and a twelve month high of $229.02. The firm has a fifty day simple moving average of $189.84 and a 200 day simple moving average of $185.13.

Fabrinet (NYSE:FN) last posted its quarterly earnings data on Monday, February 5th. The technology company reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.84 by $0.05. Fabrinet had a return on equity of 17.27% and a net margin of 9.35%. The firm had revenue of $712.69 million during the quarter, compared to analyst estimates of $699.76 million. As a group, equities analysts expect that Fabrinet will post 7.59 earnings per share for the current fiscal year.

Insider Activity at Fabrinet

In related news, Director Rollance E. Olson sold 10,000 shares of Fabrinet stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $205.52, for a total transaction of $2,055,200.00. Following the transaction, the director now owns 25,981 shares of the company’s stock, valued at $5,339,615.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.51% of the stock is owned by insiders.

Institutional Trading of Fabrinet

Institutional investors and hedge funds have recently made changes to their positions in the company. Congress Asset Management Co. MA bought a new stake in Fabrinet during the fourth quarter worth $99,045,000. Baillie Gifford & Co. raised its stake in shares of Fabrinet by 190.0% during the 4th quarter. Baillie Gifford & Co. now owns 563,805 shares of the technology company’s stock worth $107,309,000 after purchasing an additional 369,389 shares during the period. FMR LLC boosted its holdings in shares of Fabrinet by 9.7% in the 3rd quarter. FMR LLC now owns 1,987,726 shares of the technology company’s stock worth $331,195,000 after buying an additional 174,945 shares during the last quarter. Wellington Management Group LLP grew its position in Fabrinet by 21.3% during the third quarter. Wellington Management Group LLP now owns 904,505 shares of the technology company’s stock valued at $150,709,000 after buying an additional 159,037 shares during the period. Finally, Invesco Ltd. increased its holdings in Fabrinet by 55.5% during the third quarter. Invesco Ltd. now owns 306,840 shares of the technology company’s stock worth $51,126,000 after buying an additional 109,469 shares during the last quarter. Hedge funds and other institutional investors own 97.38% of the company’s stock.

Fabrinet Company Profile

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.