Rosenblatt Securities Increases Fabrinet (NYSE:FN) Price Target to $250.00

Fabrinet (NYSE:FN - Get Free Report) had its target price upped by Rosenblatt Securities from $230.00 to $250.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has a "buy" rating on the technology company's stock. Rosenblatt Securities' price target indicates a potential upside of 24.04% from the company's previous close.

Several other analysts also recently commented on FN. Needham & Company LLC reissued a "buy" rating and set a $280.00 price objective on shares of Fabrinet in a research report on Tuesday. B. Riley upgraded shares of Fabrinet from a "sell" rating to a "neutral" rating and decreased their price objective for the stock from $178.00 to $176.00 in a report on Friday, April 4th. JPMorgan Chase & Co. lowered their price objective on Fabrinet from $265.00 to $220.00 and set a "neutral" rating on the stock in a research report on Thursday, April 17th. Barclays reduced their target price on Fabrinet from $292.00 to $245.00 and set an "equal weight" rating for the company in a report on Tuesday, February 4th. Finally, Fox Advisors initiated coverage on Fabrinet in a report on Tuesday, February 18th. They set an "overweight" rating and a $270.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $239.29.

Fabrinet Trading Down 3.1 %

FN traded down $6.55 during midday trading on Tuesday, reaching $201.55. The company's stock had a trading volume of 575,554 shares, compared to its average volume of 620,449. Fabrinet has a 1 year low of $148.55 and a 1 year high of $281.79. The stock's 50-day moving average is $199.79 and its 200-day moving average is $220.09. The firm has a market capitalization of $7.22 billion, a price-to-earnings ratio of 22.54 and a beta of 0.95.

Fabrinet (NYSE:FN - Get Free Report) last posted its quarterly 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. The company 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 quarterly revenue was up 19.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.39 EPS. As a group, equities research analysts forecast that Fabrinet will post 9.4 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Fabrinet

Large investors have recently made changes to their positions in the company. Deutsche Bank AG boosted its holdings in shares of Fabrinet by 13.9% in the first quarter. Deutsche Bank AG now owns 51,549 shares of the technology company's stock worth $10,181,000 after buying an additional 6,272 shares during the last quarter. Atria Wealth Solutions Inc. grew its position in shares of Fabrinet by 40.8% during the 1st quarter. Atria Wealth Solutions Inc. now owns 5,457 shares of the technology company's stock valued at $1,078,000 after acquiring an additional 1,582 shares during the period. IFG Advisory LLC increased its stake in shares of Fabrinet by 388.7% in the 1st quarter. IFG Advisory LLC now owns 8,919 shares of the technology company's stock worth $1,762,000 after purchasing an additional 7,094 shares in the last quarter. Jefferies Financial Group Inc. purchased a new stake in shares of Fabrinet in the 1st quarter worth $995,000. Finally, TradeLink Capital LLC bought a new position in Fabrinet in the 1st quarter worth $475,000. 97.38% of the stock is currently 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.