Fabrinet (NYSE:FN) Sets New 52-Week Low – What’s Next?

Fabrinet (NYSE:FN)’s stock price reached a new 52-week low during mid-day trading on Friday . The company traded as low as $148.55 and last traded at $156.98, with a volume of 517938 shares trading hands. The stock had previously closed at $172.56.

Analyst Ratings Changes

FN has been the topic of several analyst reports. Barclays decreased their price target 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. JPMorgan Chase & Co. decreased their target price on shares of Fabrinet from $275.00 to $265.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 4th. B. Riley upgraded Fabrinet from a “sell” rating to a “neutral” rating and cut their price target for the company from $178.00 to $176.00 in a report on Friday. Needham & Company LLC restated a “buy” rating and set a $280.00 price objective on shares of Fabrinet in a report on Monday, March 17th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $285.00 price objective on shares of Fabrinet in a research report on Friday, March 14th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $250.14.

Fabrinet Price Performance

The business has a fifty day moving average of $209.73 and a 200 day moving average of $228.93. The stock has a market cap of $6.21 billion, a PE ratio of 19.14 and a beta of 0.97.

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%. On average, equities research analysts expect that Fabrinet will post 9.4 EPS for the current year.

Institutional Investors Weigh In On Fabrinet

Hedge funds and other institutional investors have recently modified their holdings of the stock. Versant Capital Management Inc grew its stake in Fabrinet by 353.7% in the first quarter. Versant Capital Management Inc now owns 186 shares of the technology company’s stock worth $37,000 after purchasing an additional 145 shares in the last quarter. First Hawaiian Bank acquired a new position in shares of Fabrinet in the 1st quarter worth approximately $1,133,000. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Fabrinet by 10.0% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 4,402 shares of the technology company’s stock valued at $968,000 after acquiring an additional 399 shares during the last quarter. Cim LLC increased its holdings in shares of Fabrinet by 1.4% in the 4th quarter. Cim LLC now owns 6,013 shares of the technology company’s stock valued at $1,322,000 after acquiring an additional 82 shares during the last quarter. Finally, Menard Financial Group LLC raised its position in shares of Fabrinet by 34.1% during the 4th quarter. Menard Financial Group LLC now owns 1,707 shares of the technology company’s stock valued at $375,000 after acquiring an additional 434 shares in 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.