Fabrinet (NYSE:FN) Given Average Rating of “Hold” by Brokerages

Shares of Fabrinet (NYSE:FN) have been assigned a consensus recommendation of “Hold” from the seven brokerages that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $243.29.

Several analysts have commented on FN shares. Barclays cut their target price on Fabrinet from $292.00 to $245.00 and set an “equal weight” rating on the stock in a research note on Tuesday. JPMorgan Chase & Co. cut their target price on Fabrinet from $275.00 to $265.00 and set a “neutral” rating on the stock in a research note on Tuesday. Rosenblatt Securities raised their price target on Fabrinet from $280.00 to $285.00 and gave the stock a “buy” rating in a research note on Tuesday. B. Riley downgraded Fabrinet from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $194.00 to $178.00 in a research note on Wednesday, November 20th. Finally, Needham & Company LLC restated a “buy” rating and issued a $280.00 price target on shares of Fabrinet in a research note on Tuesday.

Fabrinet Stock Performance

Shares of NYSE:FN opened at $214.08 on Friday. Fabrinet has a 52-week low of $159.69 and a 52-week high of $281.79. The firm has a market capitalization of $7.76 billion, a P/E ratio of 25.33 and a beta of 0.92. The stock has a 50 day moving average price of $230.44 and a 200-day moving average price of $234.17.

Fabrinet (NYSE:FN) last posted its quarterly earnings data on Monday, February 3rd. The technology company reported $2.38 earnings per share 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%. On average, equities analysts forecast that Fabrinet will post 9.1 EPS for the current fiscal year.

Institutional Trading of Fabrinet

Large investors have recently modified their holdings of the company. Huntington National Bank raised its stake in Fabrinet by 70.4% in the third quarter. Huntington National Bank now owns 138 shares of the technology company’s stock worth $33,000 after buying an additional 57 shares in the last quarter. NBC Securities Inc. raised its stake in Fabrinet by 732.0% in the third quarter. NBC Securities Inc. now owns 208 shares of the technology company’s stock worth $49,000 after buying an additional 183 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in Fabrinet in the third quarter worth approximately $52,000. UMB Bank n.a. raised its stake in 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 in the last quarter. Finally, Eastern Bank bought a new position in Fabrinet in the third quarter worth approximately $59,000. Hedge funds and other 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.