Fabrinet (NYSE:FN) Receives Consensus Rating of "Moderate Buy" from Brokerages

Fabrinet (NYSE:FN - Get Free Report) has earned an average rating of "Moderate Buy" from the six ratings firms that are presently covering the company, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $247.50.

FN has been the topic of several research reports. JPMorgan Chase & Co. lifted their price target on Fabrinet from $220.00 to $235.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. B. Riley upgraded shares of Fabrinet from a "sell" rating to a "neutral" rating and decreased their price target for the stock from $178.00 to $176.00 in a research note on Friday, April 4th. Barclays set a $234.00 price objective on shares of Fabrinet and gave the stock an "equal weight" rating in a research note on Tuesday, May 6th. Rosenblatt Securities raised their target price on shares of Fabrinet from $250.00 to $290.00 and gave the company a "buy" rating in a research note on Thursday, June 12th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $280.00 price target on shares of Fabrinet in a research report on Tuesday, May 6th.

Insider Transactions at Fabrinet

In related news, COO Harpal Gill sold 18,675 shares of the business's stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $240.00, for a total value of $4,482,000.00. Following the completion of the transaction, the chief operating officer directly owned 18,068 shares in the company, valued at $4,336,320. The trade was a 50.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Rollance E. Olson sold 2,500 shares of the stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $223.98, for a total value of $559,950.00. Following the sale, the director owned 23,201 shares in the company, valued at approximately $5,196,559.98. This represents a 9.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Banque Cantonale Vaudoise bought a new position in Fabrinet during the 1st quarter valued at about $29,000. Wayfinding Financial LLC purchased a new position in shares of Fabrinet during the first quarter valued at approximately $30,000. Berbice Capital Management LLC bought a new position in Fabrinet during the first quarter valued at approximately $30,000. Private Trust Co. NA boosted its holdings in Fabrinet by 44.3% in 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 last quarter. Finally, SBI Securities Co. Ltd. increased its position 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 acquiring an additional 87 shares during the last quarter. Hedge funds and other institutional investors own 97.38% of the company's stock.

Fabrinet Price Performance

Fabrinet stock traded down $6.13 during mid-day trading on Tuesday, reaching $288.55. 706,068 shares of the company traded hands, compared to its average volume of 641,049. Fabrinet has a 52-week low of $148.55 and a 52-week high of $300.29. The firm has a market capitalization of $10.34 billion, a price-to-earnings ratio of 32.13 and a beta of 0.98. The firm's 50 day moving average price is $234.45 and its 200 day moving average price is $220.82.

Fabrinet (NYSE:FN - Get Free Report) last announced its quarterly 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 company had revenue of $871.80 million for the quarter, compared to analysts' expectations of $857.12 million. Fabrinet had a net margin of 10.00% and a return on equity of 17.99%. Fabrinet's quarterly revenue was up 19.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.39 earnings per share. On average, sell-side analysts anticipate that Fabrinet will post 9.4 EPS for the current year.

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.