Fabrinet (NYSE:FN) Stock Now Rated "Moderate Buy" by Wall Street Analysts

Key Points

• Analysts rate Fabrinet “Moderate Buy”: Of 10 firms covering the stock, six recommend buying, one strongly recommends buying and three rate it hold. Their average 12-month price target is $548.88.
• Quarterly results topped expectations: Fabrinet reported EPS of $4.34 versus the $4.21 consensus and revenue of $1.47 billion versus $1.42 billion expected; revenue rose 50.7% year over year.
• The shares opened at $326.11, well below their 50-day and 200-day moving averages of $389.08 and $515.16, respectively. An executive vice president also sold 2,500 shares, reducing his position by 26.3%.

Fabrinet (NYSE:FN - Get Free Report) has been given an average rating of "Moderate Buy" by the ten research firms that are covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation, six have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $548.88.

A number of analysts recently commented on FN shares. JPMorgan Chase & Co. boosted their target price on shares of Fabrinet from $465.00 to $470.00 and gave the stock a "neutral" rating in a report on Tuesday, November 3rd. B. Riley Financial reduced their target price on shares of Fabrinet from $431.00 to $385.00 and set a "neutral" rating for the company in a report on Friday, October 30th. Barclays decreased their price target on shares of Fabrinet from $739.00 to $496.00 and set an "overweight" rating on the stock in a research report on Wednesday, November 4th. Fox Advisors upgraded Fabrinet from an "equal weight" rating to an "overweight" rating in a research report on Wednesday, August 19th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $500.00 target price on shares of Fabrinet in a report on Tuesday, November 3rd.

Insider Transactions at Fabrinet

In other Fabrinet news, EVP Edward Archer sold 2,500 shares of the business's stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $385.91, for a total transaction of $964,775.00. Following the sale, the executive vice president owned 7,007 shares in the company, valued at approximately $2,704,071.37. The trade was a 26.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.22% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in FN. B.A. Schrock Wealth Management Inc. bought a new stake in Fabrinet in the third quarter worth approximately $1,305,000. Great Lakes Advisors LLC acquired a new position in shares of Fabrinet during the 2nd quarter worth $3,024,000. Engineers Gate Manager LP bought a new position in shares of Fabrinet during the 2nd quarter valued at $2,491,000. Sei Investments Co. raised its holdings in shares of Fabrinet by 22.0% during the 1st quarter. Sei Investments Co. now owns 89,843 shares of the technology company's stock valued at $46,854,000 after purchasing an additional 16,218 shares in the last quarter. Finally, California State Teachers Retirement System raised its holdings in shares of Fabrinet by 23.0% during the 1st quarter. California State Teachers Retirement System now owns 41,747 shares of the technology company's stock valued at $21,772,000 after purchasing an additional 7,819 shares in the last quarter. 97.38% of the stock is owned by hedge funds and other institutional investors.

Fabrinet Stock Performance

FN opened at $326.11 on Friday. The business has a 50 day moving average price of $389.08 and a two-hundred day moving average price of $515.16. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.04 and a quick ratio of 1.33. The company has a market capitalization of $11.65 billion, a price-to-earnings ratio of 24.61 and a beta of 1.35. Fabrinet has a 1-year low of $286.07 and a 1-year high of $748.89.

Fabrinet (NYSE:FN - Get Free Report) last issued its quarterly earnings results on Monday, November 2nd. The technology company reported $4.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.21 by $0.13. Fabrinet had a return on equity of 22.32% and a net margin of 9.35%. The company had revenue of $1.47 billion for the quarter, compared to analysts' expectations of $1.42 billion. During the same period last year, the firm earned $2.92 EPS. The firm's revenue for the quarter was up 50.7% on a year-over-year basis. Research analysts predict that Fabrinet will post 18.96 EPS for the current fiscal year.

Fabrinet Company Profile

Fabrinet NYSE: FN is a provider of advanced optical packaging and precision manufacturing services. The company works with original equipment manufacturers and other technology companies to produce complex products that require specialized engineering and manufacturing capabilities. Its services include product design and engineering support, prototyping, supply-chain management, and manufacturing. Fabrinet's products serve markets including optical communications, industrial lasers, automotive technology, and medical devices.

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