JPMorgan Chase & Co. Issues Positive Forecast for Fabrinet (NYSE:FN) Stock Price

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

FN has been the subject of a number of other research reports. Needham & Company LLC reissued a "buy" rating and set a $280.00 target price on shares of Fabrinet in a report on Tuesday. Fox Advisors initiated 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. Barclays set a $234.00 target price on shares of Fabrinet and gave the stock an "equal weight" rating in a research report on Tuesday. B. Riley upgraded shares of Fabrinet from a "sell" rating to a "neutral" rating and dropped their price target for the company from $178.00 to $176.00 in a research report on Friday, April 4th. Finally, Rosenblatt Securities increased their price target on Fabrinet from $230.00 to $250.00 and gave the stock a "buy" rating in a research report on Tuesday. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $239.29.

Fabrinet Trading Down 2.5 %

Shares of FN traded down $5.18 during midday trading on Tuesday, reaching $202.92. The stock had a trading volume of 67,171 shares, compared to its average volume of 618,247. The firm has a 50 day simple moving average of $199.57 and a 200-day simple moving average of $220.41. The firm has a market cap of $7.27 billion, a PE ratio of 22.70 and a beta of 0.95. Fabrinet has a one year low of $148.55 and a one year high of $281.79.

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

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in FN. Private Trust Co. NA boosted 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 acquiring an additional 51 shares in the last quarter. Assetmark Inc. boosted its position in shares of Fabrinet by 12.0% during the 4th quarter. Assetmark Inc. now owns 484 shares of the technology company's stock worth $106,000 after purchasing an additional 52 shares in the last quarter. CIBC Asset Management Inc grew its stake 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. Nations Financial Group Inc. IA ADV increased its position in 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 in the last quarter. Finally, State of Alaska Department of Revenue raised its stake in Fabrinet by 1.7% during the 1st quarter. State of Alaska Department of Revenue now owns 4,205 shares of the technology company's stock worth $830,000 after buying an additional 70 shares during the period. 97.38% of the stock is owned by institutional investors.

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.