Barclays Lowers Fabrinet (NYSE:FN) Price Target to $245.00

Fabrinet (NYSE:FN) had its price objective reduced by stock analysts at Barclays from $292.00 to $245.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the technology company’s stock. Barclays‘s price target points to a potential upside of 8.00% from the stock’s previous close.

Several other analysts also recently commented on FN. Needham & Company LLC assumed coverage on Fabrinet in a research note on Tuesday, November 5th. They issued a “buy” rating and a $280.00 target price for the company. B. Riley downgraded Fabrinet from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $194.00 to $178.00 in a report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Fabrinet currently has a consensus rating of “Hold” and an average price target of $246.14.

Fabrinet Stock Up 4.9 %

Shares of NYSE FN opened at $226.85 on Tuesday. The company has a market capitalization of $8.23 billion, a PE ratio of 26.85 and a beta of 0.92. Fabrinet has a twelve month low of $159.69 and a twelve month high of $281.79. The firm has a fifty day simple moving average of $231.04 and a 200 day simple moving average of $234.45.

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

Institutional Trading of Fabrinet

Several institutional investors and hedge funds have recently made changes to their positions in FN. Legacy Wealth Asset Management LLC increased its holdings in Fabrinet by 3.2% during the third quarter. Legacy Wealth Asset Management LLC now owns 1,375 shares of the technology company’s stock worth $325,000 after buying an additional 43 shares during the last quarter. Wolff Wiese Magana LLC grew its position in Fabrinet by 2.7% during the third quarter. Wolff Wiese Magana LLC now owns 1,765 shares of the technology company’s stock valued at $417,000 after acquiring an additional 47 shares during the last quarter. Cynosure Group LLC boosted its holdings in Fabrinet by 3.4% during the 3rd quarter. Cynosure Group LLC now owns 1,560 shares of the technology company’s stock valued at $369,000 after acquiring an additional 51 shares during the period. Trust Point Inc. boosted its position in Fabrinet by 4.7% during the 3rd quarter. Trust Point Inc. now owns 1,272 shares of the technology company’s stock valued at $301,000 after buying an additional 57 shares during the period. Finally, Huntington National Bank lifted its holdings in Fabrinet by 70.4% in the 3rd quarter. Huntington National Bank now owns 138 shares of the technology company’s stock worth $33,000 after buying an additional 57 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.