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

Fabrinet (NYSE:FN - Get Free Report) has received an average recommendation of "Hold" from the seven ratings firms that are currently covering the stock, Marketbeat reports. Four analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $243.71.

A number of equities research analysts have recently issued reports on the company. Rosenblatt Securities reiterated a "buy" rating and issued a $285.00 target price on shares of Fabrinet in a research note on Friday, March 14th. JPMorgan Chase & Co. dropped their price objective on shares of Fabrinet from $265.00 to $220.00 and set a "neutral" rating on the stock in a research note on Thursday. Needham & Company LLC restated a "buy" rating and issued a $280.00 target price on shares of Fabrinet in a research note on Monday, March 17th. B. Riley raised shares of Fabrinet from a "sell" rating to a "neutral" rating and dropped their price target for the stock from $178.00 to $176.00 in a research note on Friday, April 4th. Finally, Barclays decreased their price objective on shares of Fabrinet from $292.00 to $245.00 and set an "equal weight" rating for the company in a research report on Tuesday, February 4th.

Fabrinet Stock Performance

FN traded down $10.46 on Thursday, reaching $173.20. 960,330 shares of the company's stock were exchanged, compared to its average volume of 607,154. Fabrinet has a twelve month low of $148.55 and a twelve month high of $281.79. The company's 50 day moving average is $202.73 and its 200-day moving average is $224.51. The company has a market cap of $6.21 billion, a price-to-earnings ratio of 19.37 and a beta of 0.97.

Fabrinet (NYSE:FN - Get Free Report) last issued its earnings results on Monday, February 3rd. The technology company reported $2.38 EPS for the quarter, missing analysts' consensus estimates of $2.48 by ($0.10). Fabrinet had a net margin of 10.44% and a return on equity of 18.48%. Sell-side analysts forecast that Fabrinet will post 9.4 EPS for the current year.

Hedge Funds Weigh In On Fabrinet

Several large investors have recently modified their holdings of FN. Versant Capital Management Inc lifted its holdings in Fabrinet by 353.7% during the 1st quarter. Versant Capital Management Inc now owns 186 shares of the technology company's stock worth $37,000 after buying an additional 145 shares during the last quarter. Huntington National Bank increased its stake in Fabrinet by 66.7% during the fourth quarter. Huntington National Bank now owns 230 shares of the technology company's stock valued at $51,000 after purchasing an additional 92 shares during the last quarter. Quarry LP raised its holdings in shares of Fabrinet by 315.8% during the fourth quarter. Quarry LP now owns 237 shares of the technology company's stock worth $52,000 after purchasing an additional 180 shares during the period. Public Employees Retirement System of Ohio bought a new position in shares of Fabrinet in the 3rd quarter worth about $61,000. Finally, Orion Capital Management LLC acquired a new position in shares of Fabrinet in the 4th quarter valued at about $62,000. 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.