Fabrinet (NYSE:FN) Receives $161.00 Average PT from Analysts

Fabrinet (NYSE:FN) has earned a consensus rating of “Moderate Buy” from the eight research firms that are currently covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $161.00.

FN has been the subject of a number of recent analyst reports. B. Riley lowered their price objective on Fabrinet from $173.00 to $171.00 and set a “neutral” rating for the company in a research report on Tuesday, May 7th. Northland Securities upgraded Fabrinet from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $200.00 to $220.00 in a research note on Thursday, March 21st. JPMorgan Chase & Co. boosted their price objective on Fabrinet from $210.00 to $212.00 and gave the stock a “neutral” rating in a research note on Thursday, April 11th. Finally, Needham & Company LLC restated a “buy” rating and set a $220.00 price objective on shares of Fabrinet in a research note on Tuesday, May 7th.

Insider Activity at Fabrinet

In other news, Director Frank H. Levinson sold 6,000 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $241.71, for a total transaction of $1,450,260.00. Following the completion of the transaction, the director now directly owns 5,709 shares of the company’s stock, valued at $1,379,922.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.51% of the stock is owned by corporate insiders.

Institutional Trading of Fabrinet

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in Fabrinet by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 4,333,317 shares of the technology company’s stock valued at $722,017,000 after acquiring an additional 16,228 shares during the period. Advisors Asset Management Inc. increased its position in Fabrinet by 3.0% in the 3rd quarter. Advisors Asset Management Inc. now owns 7,265 shares of the technology company’s stock valued at $1,210,000 after acquiring an additional 211 shares during the period. Evoke Wealth LLC acquired a new stake in Fabrinet in the 4th quarter valued at approximately $3,135,000. Redwood Investments LLC acquired a new stake in Fabrinet in the 4th quarter valued at approximately $3,478,000. Finally, Wellington Management Group LLP increased its position in Fabrinet by 21.3% in the 3rd quarter. Wellington Management Group LLP now owns 904,505 shares of the technology company’s stock valued at $150,709,000 after acquiring an additional 159,037 shares during the period. 97.38% of the stock is currently owned by institutional investors and hedge funds.

Fabrinet Price Performance

FN opened at $245.69 on Friday. The business has a 50 day simple moving average of $218.75 and a 200-day simple moving average of $203.89. The stock has a market capitalization of $8.88 billion, a P/E ratio of 32.63 and a beta of 0.99. Fabrinet has a 12 month low of $114.83 and a 12 month high of $257.04.

Fabrinet (NYSE:FN) last issued its quarterly earnings data on Monday, May 6th. The technology company reported $2.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.93 by $0.28. The firm had revenue of $731.54 million during the quarter, compared to analysts’ expectations of $718.94 million. Fabrinet had a return on equity of 17.67% and a net margin of 9.90%. Research analysts anticipate that Fabrinet will post 7.95 EPS for the current year.

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.