Fabrinet (NYSE:FN) Receives $250.43 Consensus Price Target from Brokerages

Fabrinet (NYSE:FN) has been assigned an average recommendation of “Hold” from the seven research firms that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $250.43.

A number of research analysts recently issued reports on the company. Needham & Company LLC reaffirmed a “buy” rating and set a $280.00 target price on shares of Fabrinet in a report on Monday, March 17th. Fox Advisors started coverage on shares of Fabrinet in a report on Tuesday, February 18th. They issued an “overweight” rating and a $270.00 target price on the stock. JPMorgan Chase & Co. reduced their target price on shares of Fabrinet from $275.00 to $265.00 and set a “neutral” rating for the company in a report on Tuesday, February 4th. Barclays dropped their price target on Fabrinet from $292.00 to $245.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 4th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $285.00 price objective on shares of Fabrinet in a research note on Friday, March 14th.

Fabrinet Stock Performance

Shares of FN opened at $207.17 on Friday. Fabrinet has a one year low of $159.69 and a one year high of $281.79. The stock’s fifty day moving average is $217.58 and its 200-day moving average is $230.15. The firm has a market capitalization of $7.51 billion, a price-to-earnings ratio of 23.17 and a beta of 0.89.

Fabrinet (NYSE:FN) last released its earnings results on Monday, February 3rd. The technology company reported $2.38 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 forecast that Fabrinet will post 9.4 EPS for the current fiscal year.

Hedge Funds Weigh In On Fabrinet

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FN. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Fabrinet in the third quarter valued at $52,000. Huntington National Bank raised its position in Fabrinet by 66.7% during the fourth quarter. Huntington National Bank now owns 230 shares of the technology company’s stock valued at $51,000 after buying an additional 92 shares during the period. Quarry LP lifted its stake in Fabrinet by 315.8% in the 4th quarter. Quarry LP now owns 237 shares of the technology company’s stock worth $52,000 after acquiring an additional 180 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in Fabrinet during the 3rd quarter worth about $61,000. Finally, Orion Capital Management LLC purchased a new position in Fabrinet during the 4th quarter valued at about $62,000. Institutional investors and hedge funds 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.