Fabrinet (NYSE:FN) Given New $194.00 Price Target at B. Riley

Fabrinet (NYSE:FN) had its price objective lowered by B. Riley from $196.00 to $194.00 in a research note released on Tuesday morning,Benzinga reports. The brokerage currently has a neutral rating on the technology company’s stock.

Several other research analysts have also commented on the company. Needham & Company LLC assumed coverage on Fabrinet in a research report on Tuesday. They set a “buy” rating and a $280.00 price target for the company. JPMorgan Chase & Co. increased their target price on Fabrinet from $240.00 to $285.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. Finally, Rosenblatt Securities raised their target price on Fabrinet from $260.00 to $280.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Fabrinet presently has a consensus rating of “Moderate Buy” and a consensus target price of $248.17.

Fabrinet Stock Performance

FN opened at $271.10 on Tuesday. The stock has a market capitalization of $9.83 billion, a PE ratio of 32.08 and a beta of 0.95. Fabrinet has a one year low of $159.30 and a one year high of $278.38. The business’s 50 day moving average price is $239.49 and its 200 day moving average price is $232.77.

Fabrinet (NYSE:FN) last released its quarterly earnings results on Monday, November 4th. The technology company reported $2.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.38 by $0.01. The business had revenue of $804.20 million for the quarter, compared to the consensus estimate of $771.24 million. Fabrinet had a net margin of 10.28% and a return on equity of 18.50%. The business’s revenue was up 17.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.78 EPS. As a group, equities research analysts forecast that Fabrinet will post 9.11 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Fabrinet news, CFO Csaba Sverha sold 9,288 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $270.08, for a total transaction of $2,508,503.04. Following the sale, the chief financial officer now owns 19,768 shares in the company, valued at $5,338,941.44. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Fabrinet news, CFO Csaba Sverha sold 9,288 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $270.08, for a total transaction of $2,508,503.04. Following the completion of the transaction, the chief financial officer now owns 19,768 shares in the company, valued at $5,338,941.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Edward T. Archer sold 8,690 shares of the 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 completion of the sale, the executive vice president now directly owns 8,333 shares in the company, valued at approximately $1,835,426.58. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 44,728 shares of company stock valued at $11,645,062 in the last three months. 0.38% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Fabrinet

Several institutional investors have recently added to or reduced their stakes in FN. Opal Wealth Advisors LLC acquired a new stake in Fabrinet during the 2nd quarter worth $28,000. Huntington National Bank increased its position in shares of Fabrinet by 70.4% during the third quarter. Huntington National Bank now owns 138 shares of the technology company’s stock worth $33,000 after purchasing an additional 57 shares in the last quarter. Banque Cantonale Vaudoise acquired a new stake in shares of Fabrinet during the second quarter worth about $35,000. Kimelman & Baird LLC purchased a new stake in shares of Fabrinet in the 2nd quarter valued at about $49,000. Finally, NBC Securities Inc. boosted its position in shares of Fabrinet by 732.0% in the 3rd quarter. NBC Securities Inc. now owns 208 shares of the technology company’s stock valued at $49,000 after purchasing an additional 183 shares during the period. 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.