JPMorgan Chase & Co. Lowers Fabrinet (NYSE:FN) Price Target to $265.00

Fabrinet (NYSE:FN) had its price target cut by JPMorgan Chase & Co. from $275.00 to $265.00 in a research report released on Tuesday,Benzinga reports. They currently have a neutral rating on the technology company’s stock.

A number of other equities analysts also recently issued reports on the company. Rosenblatt Securities upped their price target on Fabrinet from $280.00 to $285.00 and gave the stock a “buy” rating in a research report on Tuesday. Barclays reduced their target price on Fabrinet from $292.00 to $245.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Needham & Company LLC reissued a “buy” rating and issued a $280.00 price target on shares of Fabrinet in a report on Tuesday. Finally, B. Riley downgraded shares of Fabrinet from a “neutral” rating to a “sell” rating and cut their price objective for the company from $194.00 to $178.00 in a report on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $243.29.

Fabrinet Trading Down 8.0 %

Shares of NYSE:FN opened at $207.51 on Tuesday. The company has a market capitalization of $7.53 billion, a PE ratio of 24.56 and a beta of 0.92. Fabrinet has a 12-month low of $159.69 and a 12-month high of $281.79. The business’s fifty day simple moving average is $231.00 and its 200-day simple moving average is $234.38.

Fabrinet (NYSE:FN) last announced its earnings results on Monday, February 3rd. The technology company reported $2.38 EPS for the quarter, missing analysts’ consensus estimates of $2.48 by ($0.10). Fabrinet had a return on equity of 18.08% and a net margin of 10.28%. Research analysts predict that Fabrinet will post 9.1 EPS for the current year.

Institutional Trading of Fabrinet

Hedge funds and other institutional investors have recently made changes to their positions in the business. Huntington National Bank lifted its position in Fabrinet by 70.4% during the third quarter. Huntington National Bank now owns 138 shares of the technology company’s stock valued at $33,000 after purchasing an additional 57 shares during the period. NBC Securities Inc. lifted its holdings 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 buying an additional 183 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Fabrinet in the 3rd quarter valued at about $52,000. UMB Bank n.a. boosted its stake in shares of Fabrinet by 252.9% in the third quarter. UMB Bank n.a. now owns 240 shares of the technology company’s stock worth $57,000 after buying an additional 172 shares during the last quarter. Finally, Eastern Bank purchased a new position in Fabrinet during the third quarter valued at approximately $59,000. Institutional investors and hedge funds 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.