Fabrinet (NYSE:FN) Receives Average Rating of “Hold” from Brokerages

Shares of Fabrinet (NYSE:FN) have received a consensus recommendation of “Hold” from the seven analysts that are covering the company, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $254.43.

A number of research analysts recently issued reports on FN shares. JPMorgan Chase & Co. lifted their target price on Fabrinet from $240.00 to $285.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Barclays initiated coverage on Fabrinet in a research report on Thursday. They set an “equal weight” rating and a $292.00 price objective for the company. Rosenblatt Securities increased their price objective on Fabrinet from $260.00 to $280.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. Needham & Company LLC assumed coverage on shares of Fabrinet in a research note on Tuesday, November 5th. They issued a “buy” rating and a $280.00 target price for the company. Finally, B. Riley reduced their target price on Fabrinet from $196.00 to $194.00 and set a “neutral” rating for the company in a report on Tuesday, November 5th.

Insider Activity

In related news, CFO Csaba Sverha sold 100 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $270.00, for a total value of $27,000.00. Following the transaction, the chief financial officer now directly owns 19,347 shares in the company, valued at approximately $5,223,690. This represents a 0.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Edward T. Archer sold 8,690 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $220.26, for a total transaction of $1,914,059.40. Following the transaction, the executive vice president now owns 8,333 shares of the company’s stock, valued at approximately $1,835,426.58. This represents a 51.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 44,728 shares of company stock worth $11,645,062 over the last three months. Corporate insiders own 0.38% of the company’s stock.

Institutional Investors Weigh In On Fabrinet

A number of institutional investors have recently modified their holdings of the company. Opal Wealth Advisors LLC bought a new position in Fabrinet in the second quarter worth approximately $28,000. Huntington National Bank increased its stake in shares of Fabrinet by 70.4% during the 3rd quarter. Huntington National Bank now owns 138 shares of the technology company’s stock worth $33,000 after purchasing an additional 57 shares during the last quarter. Banque Cantonale Vaudoise bought a new stake in shares of Fabrinet in the second quarter valued at $35,000. Kimelman & Baird LLC purchased a new stake in Fabrinet during the second quarter valued at about $49,000. Finally, NBC Securities Inc. lifted its stake in shares of Fabrinet by 732.0% during the 3rd quarter. NBC Securities Inc. now owns 208 shares of the technology company’s stock valued at $49,000 after buying an additional 183 shares in the last quarter. 97.38% of the stock is owned by institutional investors.

Fabrinet Trading Down 6.8 %

Shares of FN stock opened at $234.85 on Monday. Fabrinet has a 52 week low of $159.30 and a 52 week high of $278.38. The company has a market cap of $8.52 billion, a PE ratio of 27.79 and a beta of 0.95. The company’s fifty day simple moving average is $242.35 and its 200-day simple moving average is $236.02.

Fabrinet (NYSE:FN) last posted its quarterly earnings results on Monday, November 4th. The technology company reported $2.39 EPS for the quarter, topping analysts’ consensus estimates of $2.38 by $0.01. Fabrinet had a return on equity of 18.08% and a net margin of 10.28%. The business had revenue of $804.20 million during the quarter, compared to the consensus estimate of $771.24 million. During the same period last year, the firm earned $1.78 earnings per share. The company’s revenue for the quarter was up 17.3% compared to the same quarter last year. Equities research analysts expect that Fabrinet will post 9.1 EPS for the current fiscal year.

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.