Fabrinet (NYSE:FN) Given Consensus Recommendation of “Hold” by Analysts

Fabrinet (NYSE:FN) has been given an average rating of “Hold” by the seven brokerages that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $252.14.

A number of equities analysts have issued reports on FN shares. B. Riley downgraded Fabrinet from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $194.00 to $178.00 in a report on Wednesday, November 20th. JPMorgan Chase & Co. raised their price target on Fabrinet from $240.00 to $285.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Rosenblatt Securities raised their price target on Fabrinet from $260.00 to $280.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. Barclays started coverage on Fabrinet in a report on Thursday, November 14th. They set an “equal weight” rating and a $292.00 price target for the company. Finally, Needham & Company LLC started coverage on Fabrinet in a report on Tuesday, November 5th. They set a “buy” rating and a $280.00 price target for the company.

Insider Activity at Fabrinet

In other Fabrinet news, EVP Edward T. Archer sold 8,690 shares of the firm’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $220.26, for a total value of $1,914,059.40. Following the transaction, the executive vice president now directly owns 8,333 shares of the company’s stock, valued at approximately $1,835,426.58. This trade represents a 51.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.38% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Opal Wealth Advisors LLC purchased a new position in Fabrinet in the second quarter worth about $28,000. Huntington National Bank lifted its position in shares of Fabrinet by 70.4% during the 3rd quarter. Huntington National Bank now owns 138 shares of the technology company’s stock valued at $33,000 after buying an additional 57 shares in the last quarter. Banque Cantonale Vaudoise purchased a new position in shares of Fabrinet during the 2nd quarter valued at about $35,000. Kimelman & Baird LLC purchased a new position in shares of Fabrinet during the 2nd quarter valued at about $49,000. Finally, NBC Securities Inc. lifted its position in shares of Fabrinet by 732.0% during the 3rd quarter. NBC Securities Inc. now owns 208 shares of the technology company’s stock valued at $49,000 after buying an additional 183 shares in the last quarter. 97.38% of the stock is owned by hedge funds and other institutional investors.

Fabrinet Stock Up 0.2 %

Shares of Fabrinet stock opened at $230.43 on Monday. The business has a 50 day moving average of $244.00 and a 200 day moving average of $237.91. The company has a market cap of $8.36 billion, a PE ratio of 27.27 and a beta of 0.95. Fabrinet has a 52 week low of $159.30 and a 52 week high of $278.38.

Fabrinet (NYSE:FN) last posted its quarterly earnings data on Monday, November 4th. The technology company reported $2.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.38 by $0.01. The business had revenue of $804.20 million during the quarter, compared to the consensus estimate of $771.24 million. Fabrinet had a return on equity of 18.08% and a net margin of 10.28%. The firm’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.78 earnings per share. On average, research analysts anticipate that Fabrinet will post 9.1 earnings per share for the current year.

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.