Fabrinet (NYSE:FN) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Fabrinet (NYSE:FN - Free Report) had its target price upped by JPMorgan Chase & Co. from $220.00 to $235.00 in a research note published on Tuesday morning,Benzinga reports. The firm currently has a neutral rating on the technology company's stock.

A number of other brokerages have also commented on FN. Barclays set a $234.00 price objective on Fabrinet and gave the company an "equal weight" rating in a report on Tuesday, May 6th. Rosenblatt Securities increased their price target on Fabrinet from $230.00 to $250.00 and gave the company a "buy" 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 objective for the company. Needham & Company LLC reiterated a "buy" rating and issued a $280.00 target price on shares of Fabrinet in a research note on Tuesday, May 6th. Finally, B. Riley raised Fabrinet from a "sell" rating to a "neutral" rating and lowered their price target for the company from $178.00 to $176.00 in a research report on Friday, April 4th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Fabrinet has a consensus rating of "Hold" and a consensus price target of $239.29.

Fabrinet Stock Performance

Shares of NYSE:FN traded down $6.55 during midday trading on Tuesday, hitting $201.55. 575,554 shares of the stock were exchanged, compared to its average volume of 620,840. The business's fifty day simple moving average is $199.79 and its two-hundred day simple moving average is $219.91. Fabrinet has a 52-week low of $148.55 and a 52-week high of $281.79. The company has a market capitalization of $7.22 billion, a PE ratio of 22.54 and a beta of 0.95.

Fabrinet (NYSE:FN - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The technology company reported $2.52 EPS for the quarter, topping analysts' consensus estimates of $2.47 by $0.05. The firm had revenue of $871.80 million for the quarter, compared to the consensus estimate of $857.12 million. Fabrinet had a return on equity of 18.48% and a net margin of 10.44%. The firm's revenue was up 19.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.39 earnings per share. As a group, equities analysts anticipate that Fabrinet will post 9.4 EPS for the current year.

Hedge Funds Weigh In On Fabrinet

Several large investors have recently added to or reduced their stakes in FN. Private Trust Co. NA lifted its stake in Fabrinet by 44.3% during the first quarter. Private Trust Co. NA now owns 166 shares of the technology company's stock worth $33,000 after purchasing an additional 51 shares during the period. Assetmark Inc. boosted its stake in Fabrinet by 12.0% in the 4th quarter. Assetmark Inc. now owns 484 shares of the technology company's stock valued at $106,000 after buying an additional 52 shares in the last quarter. CIBC Asset Management Inc raised its stake in Fabrinet by 5.7% during the fourth quarter. CIBC Asset Management Inc now owns 1,113 shares of the technology company's stock worth $245,000 after acquiring an additional 60 shares in the last quarter. Nations Financial Group Inc. IA ADV lifted its holdings in shares of Fabrinet by 2.4% during the fourth quarter. Nations Financial Group Inc. IA ADV now owns 2,941 shares of the technology company's stock valued at $647,000 after acquiring an additional 68 shares during the period. Finally, State of Alaska Department of Revenue boosted its stake in shares of Fabrinet by 1.7% in the 1st quarter. State of Alaska Department of Revenue now owns 4,205 shares of the technology company's stock valued at $830,000 after purchasing an additional 70 shares in the last quarter. Institutional investors and hedge funds own 97.38% of the company's stock.

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.