Fabrinet (NYSE:FN) Hits New 52-Week High - Still a Buy?

Fabrinet (NYSE:FN - Get Free Report) shares reached a new 52-week high on Tuesday . The company traded as high as $303.65 and last traded at $301.87, with a volume of 548885 shares trading hands. The stock had previously closed at $296.46.

Analysts Set New Price Targets

A number of research firms have recently weighed in on FN. JPMorgan Chase & Co. lifted their price target on Fabrinet from $235.00 to $318.00 and gave the company a "neutral" rating in a report on Thursday. Barclays set a $234.00 price target on Fabrinet and gave the company an "equal weight" rating in a report on Tuesday, May 6th. Wolfe Research started coverage on Fabrinet in a report on Tuesday, July 8th. They set a "peer perform" rating on the stock. Needham & Company LLC reiterated a "buy" rating and set a $280.00 price objective on shares of Fabrinet in a research note on Tuesday, May 6th. Finally, Rosenblatt Securities boosted their target price on Fabrinet from $250.00 to $290.00 and gave the stock a "buy" rating in a report on Thursday, June 12th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Fabrinet presently has a consensus rating of "Hold" and a consensus price target of $261.33.

Fabrinet Price Performance

The stock has a market cap of $11.07 billion, a P/E ratio of 34.42 and a beta of 1.04. The company has a fifty day moving average of $257.47 and a 200 day moving average of $227.00.

Fabrinet (NYSE:FN - Get Free Report) last released its quarterly earnings data 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. Fabrinet had a net margin of 10.00% and a return on equity of 17.99%. The business had revenue of $871.80 million during the quarter, compared to analyst estimates of $857.12 million. During the same quarter in the previous year, the business earned $2.39 EPS. Fabrinet's quarterly revenue was up 19.2% compared to the same quarter last year. As a group, analysts anticipate that Fabrinet will post 9.4 EPS for the current year.

Insider Buying and Selling at Fabrinet

In related news, Director Rollance E. Olson sold 2,500 shares of Fabrinet 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 completion of the sale, the director owned 23,201 shares of the company's stock, valued at approximately $5,196,559.98. The trade was a 9.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Harpal Gill sold 18,675 shares of the business's stock in a transaction on 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 directly owned 18,068 shares of the company's stock, valued at approximately $4,336,320. This represents a 50.83% decrease in their position. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of FN. Maseco LLP acquired a new position in Fabrinet in the 2nd quarter valued at approximately $25,000. Banque Cantonale Vaudoise acquired a new stake in shares of Fabrinet during the 1st quarter worth approximately $29,000. Wayfinding Financial LLC acquired a new stake in shares of Fabrinet during the 1st quarter worth approximately $30,000. Berbice Capital Management LLC acquired a new stake in shares of Fabrinet during the 1st quarter worth approximately $30,000. Finally, Private Trust Co. NA grew its holdings in shares of Fabrinet by 44.3% during the 1st quarter. Private Trust Co. NA now owns 166 shares of the technology company's stock worth $33,000 after purchasing an additional 51 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.