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

Fabrinet (NYSE:FN - Get Free Report) has earned an average rating of "Hold" from the seven brokerages that are currently covering the firm, Marketbeat reports. Four equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $239.29.

Several research firms have recently weighed in on FN. Rosenblatt Securities raised their target price on Fabrinet from $230.00 to $250.00 and gave the company a "buy" rating in a research report on Tuesday, May 6th. Needham & Company LLC restated a "buy" rating and issued a $280.00 price objective on shares of Fabrinet in a report on Tuesday, May 6th. JPMorgan Chase & Co. upped their target price on shares of Fabrinet from $220.00 to $235.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. Fox Advisors assumed coverage on shares of Fabrinet in a research note on Tuesday, February 18th. They issued an "overweight" rating and a $270.00 price target on the stock. Finally, B. Riley upgraded shares of Fabrinet from a "sell" rating to a "neutral" rating and lowered their price target for the stock from $178.00 to $176.00 in a research report on Friday, April 4th.

Insider Transactions at Fabrinet

In other Fabrinet news, Director Rollance E. Olson sold 2,500 shares of the company's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $223.98, for a total value of $559,950.00. Following the transaction, the director now owns 23,201 shares of the company's stock, valued at $5,196,559.98. This represents a 9.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Harpal Gill sold 18,675 shares of the stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $240.00, for a total transaction of $4,482,000.00. Following the transaction, the chief operating officer now directly owns 18,068 shares of the company's stock, valued at approximately $4,336,320. This trade represents a 50.83% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.38% of the company's stock.

Hedge Funds Weigh In On Fabrinet

Several large investors have recently made changes to their positions in the stock. Private Trust Co. NA increased its holdings in Fabrinet by 44.3% in the 1st quarter. Private Trust Co. NA now owns 166 shares of the technology company's stock valued at $33,000 after purchasing an additional 51 shares during the last quarter. Assetmark Inc. boosted its position in shares of Fabrinet by 12.0% during the fourth quarter. Assetmark Inc. now owns 484 shares of the technology company's stock worth $106,000 after buying an additional 52 shares during the period. CreativeOne Wealth LLC grew its stake in shares of Fabrinet by 4.9% in the first quarter. CreativeOne Wealth LLC now owns 1,148 shares of the technology company's stock valued at $227,000 after buying an additional 54 shares in the last quarter. CIBC Asset Management Inc raised its holdings in shares of Fabrinet by 5.7% in the 4th quarter. CIBC Asset Management Inc now owns 1,113 shares of the technology company's stock valued at $245,000 after buying an additional 60 shares during the period. Finally, Nations Financial Group Inc. IA ADV raised its holdings in shares of Fabrinet by 2.4% in the 4th quarter. Nations Financial Group Inc. IA ADV now owns 2,941 shares of the technology company's stock valued at $647,000 after buying an additional 68 shares during the period. 97.38% of the stock is currently owned by institutional investors and hedge funds.

Fabrinet Stock Performance

Fabrinet stock opened at $237.25 on Friday. The stock has a market capitalization of $8.50 billion, a P/E ratio of 26.54 and a beta of 0.95. The company's fifty day moving average price is $207.69 and its 200 day moving average price is $217.73. Fabrinet has a 1 year low of $148.55 and a 1 year high of $281.79.

Fabrinet (NYSE:FN - Get Free Report) last announced its earnings results on Monday, May 5th. The technology company reported $2.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.47 by $0.05. The business had revenue of $871.80 million for the quarter, compared to analyst estimates of $857.12 million. Fabrinet had a net margin of 10.44% and a return on equity of 18.48%. The company's revenue for the quarter was up 19.2% compared to the same quarter last year. During the same quarter last year, the business earned $2.39 earnings per share. Sell-side analysts predict that Fabrinet will post 9.4 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.

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