Fabrinet (NYSE:FN) Price Target Raised to $290.00 at Rosenblatt Securities

Fabrinet (NYSE:FN - Get Free Report) had its price objective increased by Rosenblatt Securities from $250.00 to $290.00 in a report issued on Thursday,Benzinga reports. The firm currently has a "buy" rating on the technology company's stock. Rosenblatt Securities' price objective points to a potential upside of 18.38% from the company's current price.

Other equities research analysts also recently issued research reports about the company. B. Riley raised Fabrinet from a "sell" rating to a "neutral" rating and decreased their target price for the stock from $178.00 to $176.00 in a research report on Friday, April 4th. Fox Advisors initiated coverage on Fabrinet in a research report on Tuesday, February 18th. They issued an "overweight" rating and a $270.00 target price for the company. JPMorgan Chase & Co. upped their target price on Fabrinet from $220.00 to $235.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. Needham & Company LLC reaffirmed a "buy" rating and issued a $280.00 target price on shares of Fabrinet in a research report on Tuesday, May 6th. Finally, Barclays set a $234.00 target price on Fabrinet and gave the stock an "equal weight" rating in a research report on Tuesday, May 6th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $245.00.

Fabrinet Price Performance

FN stock traded down $12.00 during trading on Thursday, reaching $244.97. 583,817 shares of the stock traded hands, compared to its average volume of 635,761. The business's 50 day moving average price is $214.78 and its 200-day moving average price is $218.07. Fabrinet has a 52-week low of $148.55 and a 52-week high of $281.79. The firm has a market capitalization of $8.78 billion, a PE ratio of 27.40 and a beta of 0.98.

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

Insider Buying and Selling

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

Institutional Trading of Fabrinet

Institutional investors and hedge funds have recently bought and sold shares of the company. Banque Cantonale Vaudoise acquired a new stake in Fabrinet during the first quarter valued at approximately $29,000. Berbice Capital Management LLC acquired a new stake in Fabrinet during the first quarter valued at approximately $30,000. Wayfinding Financial LLC acquired a new stake in Fabrinet during the first quarter valued at approximately $30,000. Private Trust Co. NA raised 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 valued at $33,000 after buying an additional 51 shares in the last quarter. Finally, SBI Securities Co. Ltd. raised its stake in Fabrinet by 93.5% during the first quarter. SBI Securities Co. Ltd. now owns 180 shares of the technology company's stock valued at $36,000 after buying an additional 87 shares in the last quarter. Institutional investors and hedge funds 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.