Fabrinet (NYSE:FN) Price Target Increased to $196.00 by Analysts at B. Riley

Fabrinet (NYSE:FN) had its price target upped by B. Riley from $171.00 to $196.00 in a report issued on Tuesday, Benzinga reports. B. Riley currently has a neutral rating on the technology company’s stock.

A number of other research analysts also recently commented on FN. Jefferies Financial Group initiated coverage on shares of Fabrinet in a research note on Wednesday, June 26th. They set a hold rating and a $230.00 price objective for the company. JPMorgan Chase & Co. increased their price target on shares of Fabrinet from $230.00 to $240.00 and gave the stock a neutral rating in a research note on Monday, August 12th. Needham & Company LLC boosted their price objective on shares of Fabrinet from $270.00 to $280.00 and gave the company a buy rating in a research note on Tuesday. Finally, Rosenblatt Securities increased their target price on Fabrinet from $260.00 to $280.00 and gave the stock a buy rating in a research report on Tuesday. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus price target of $219.00.

Fabrinet Stock Performance

Shares of FN opened at $267.35 on Tuesday. Fabrinet has a 1 year low of $146.65 and a 1 year high of $278.38. The company’s 50 day simple moving average is $235.36 and its 200 day simple moving average is $215.21. The company has a market capitalization of $9.66 billion, a price-to-earnings ratio of 35.50 and a beta of 0.96.

Fabrinet (NYSE:FN) last issued its quarterly earnings results on Monday, August 19th. The technology company reported $2.41 earnings per share for the quarter, topping analysts’ consensus estimates of $2.06 by $0.35. The company had revenue of $753.26 million for the quarter, compared to analyst estimates of $732.63 million. Fabrinet had a return on equity of 17.67% and a net margin of 9.90%. The business’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.68 EPS. Equities analysts expect that Fabrinet will post 7.95 EPS for the current fiscal year.

Insider Buying and Selling at Fabrinet

In related news, CFO Csaba Sverha sold 9,288 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $270.08, for a total transaction of $2,508,503.04. Following the transaction, the chief financial officer now directly owns 19,768 shares of the company’s stock, valued at approximately $5,338,941.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.51% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Fabrinet

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC purchased a new position in Fabrinet in the 2nd quarter valued at about $28,000. GAMMA Investing LLC acquired a new stake in Fabrinet during the 4th quarter valued at approximately $34,000. Banque Cantonale Vaudoise purchased a new stake in Fabrinet during the 2nd quarter worth approximately $35,000. Parallel Advisors LLC raised its position in shares of Fabrinet by 59.7% in the 4th quarter. Parallel Advisors LLC now owns 206 shares of the technology company’s stock valued at $39,000 after purchasing an additional 77 shares in the last quarter. Finally, Kimelman & Baird LLC purchased a new position in shares of Fabrinet during the 2nd quarter valued at approximately $49,000. 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.