Fabrinet (NYSE:FN) Price Target Raised to $212.00

Fabrinet (NYSE:FN) had its price objective upped by research analysts at JPMorgan Chase & Co. from $210.00 to $212.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the technology company’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 22.25% from the stock’s current price.

Several other research firms have also weighed in on FN. Needham & Company LLC reduced their price objective on Fabrinet from $230.00 to $220.00 and set a “buy” rating on the stock in a research note on Friday, March 22nd. Rosenblatt Securities reissued a “buy” rating and set a $230.00 price target on shares of Fabrinet in a research report on Tuesday, February 6th. Finally, Northland Securities raised Fabrinet from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $200.00 to $220.00 in a research report on Thursday, March 21st. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $159.57.

Fabrinet Trading Down 2.8 %

Shares of NYSE:FN opened at $173.41 on Thursday. The stock’s 50-day moving average price is $197.90 and its two-hundred day moving average price is $185.06. Fabrinet has a 12-month low of $90.19 and a 12-month high of $229.02. The firm has a market cap of $6.30 billion, a price-to-earnings ratio of 25.06 and a beta of 1.04.

Fabrinet (NYSE:FN) last released its quarterly earnings data on Monday, February 5th. The technology company reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.84 by $0.05. The business had revenue of $712.69 million for the quarter, compared to analyst estimates of $699.76 million. Fabrinet had a return on equity of 17.27% and a net margin of 9.35%. As a group, research analysts forecast that Fabrinet will post 7.64 earnings per share for the current fiscal year.

Insider Buying and Selling at Fabrinet

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

Hedge Funds Weigh In On Fabrinet

A number of institutional investors have recently made changes to their positions in the business. First Eagle Investment Management LLC increased its holdings in shares of Fabrinet by 0.8% in the 4th quarter. First Eagle Investment Management LLC now owns 7,508 shares of the technology company’s stock valued at $1,429,000 after acquiring an additional 60 shares during the last quarter. Campbell Newman Asset Management Inc. grew its stake in Fabrinet by 0.4% during the 4th quarter. Campbell Newman Asset Management Inc. now owns 17,895 shares of the technology company’s stock worth $3,406,000 after buying an additional 64 shares during the last quarter. Signaturefd LLC grew its stake in Fabrinet by 15.9% during the 3rd quarter. Signaturefd LLC now owns 503 shares of the technology company’s stock worth $84,000 after buying an additional 69 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in Fabrinet by 3.5% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 2,208 shares of the technology company’s stock worth $368,000 after buying an additional 75 shares during the last quarter. Finally, Sequoia Financial Advisors LLC grew its stake in Fabrinet by 3.2% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 2,396 shares of the technology company’s stock worth $399,000 after buying an additional 75 shares during the last quarter. 97.38% of the stock is owned by institutional investors and hedge funds.

About Fabrinet

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.