Rosenblatt Securities Reiterates Buy Rating for Fabrinet (NYSE:FN)

Rosenblatt Securities restated their buy rating on shares of Fabrinet (NYSE:FN) in a report published on Friday,Benzinga reports. Rosenblatt Securities currently has a $285.00 price target on the technology company’s stock.

A number of other research analysts have also recently commented on FN. Needham & Company LLC restated a “buy” rating and issued a $280.00 target price on shares of Fabrinet in a research note on Tuesday, February 4th. JPMorgan Chase & Co. lowered their price objective on Fabrinet from $275.00 to $265.00 and set a “neutral” rating for the company in a research report on Tuesday, February 4th. Fox Advisors started coverage on shares of Fabrinet in a report on Tuesday, February 18th. They set an “overweight” rating and a $270.00 target price on the stock. B. Riley lowered shares of Fabrinet from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $194.00 to $178.00 in a research note on Wednesday, November 20th. Finally, Barclays dropped their price objective on shares of Fabrinet from $292.00 to $245.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 4th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $246.63.

Fabrinet Trading Down 1.3 %

Shares of Fabrinet stock opened at $220.85 on Friday. Fabrinet has a 12-month low of $159.69 and a 12-month high of $281.79. The company has a market cap of $8.01 billion, a P/E ratio of 24.70 and a beta of 0.89. The company’s fifty day simple moving average is $219.44 and its two-hundred day simple moving average is $230.99.

Fabrinet (NYSE:FN) last announced its quarterly earnings results on Monday, February 3rd. The technology company reported $2.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.48 by ($0.10). Fabrinet had a net margin of 10.44% and a return on equity of 18.48%. Analysts predict that Fabrinet will post 9.4 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in FN. Assetmark Inc. increased its holdings in Fabrinet by 468.4% in the 3rd quarter. Assetmark Inc. now owns 432 shares of the technology company’s stock worth $102,000 after buying an additional 356 shares in the last quarter. Aigen Investment Management LP bought a new position in Fabrinet during the third quarter valued at approximately $442,000. KBC Group NV grew its position in Fabrinet by 12.2% in the 3rd quarter. KBC Group NV now owns 1,022 shares of the technology company’s stock worth $242,000 after purchasing an additional 111 shares during the period. Huntington National Bank raised its stake in Fabrinet by 70.4% during the 3rd quarter. Huntington National Bank now owns 138 shares of the technology company’s stock valued at $33,000 after buying an additional 57 shares during the last quarter. Finally, Mutual of America Capital Management LLC raised its stake in Fabrinet by 43.4% during the 3rd quarter. Mutual of America Capital Management LLC now owns 44,175 shares of the technology company’s stock valued at $10,445,000 after buying an additional 13,361 shares during the last quarter. Institutional investors own 97.38% of the company’s stock.

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.