Fabrinet's (FN) "Buy" Rating Reiterated at Rosenblatt Securities

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Fabrinet (NYSE:FN - Get Free Report)'s stock had its "buy" rating restated by investment analysts at Rosenblatt Securities in a report issued on Tuesday,Benzinga reports. They currently have a $360.00 price objective on the technology company's stock. Rosenblatt Securities' price target would indicate a potential upside of 10.27% from the company's current price.

FN has been the subject of several other reports. Barclays set a $329.00 target price on shares of Fabrinet in a research report on Tuesday. Needham & Company LLC restated a "buy" rating and issued a $280.00 target price on shares of Fabrinet in a research report on Tuesday, May 6th. JPMorgan Chase & Co. boosted their target price on shares of Fabrinet from $235.00 to $318.00 and gave the company a "neutral" rating in a research report on Thursday, July 17th. Finally, Wolfe Research began coverage on shares of Fabrinet in a research report on Tuesday, July 8th. They issued a "peer perform" rating for the company. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $288.83.

Fabrinet Stock Down 1.0%

NYSE FN opened at $326.47 on Tuesday. The company has a market capitalization of $11.70 billion, a P/E ratio of 36.36 and a beta of 1.02. Fabrinet has a 12-month low of $148.55 and a 12-month high of $356.55. The firm has a 50-day moving average price of $298.58 and a two-hundred day moving average price of $241.11.

Fabrinet (NYSE:FN - Get Free Report) last posted its quarterly earnings data on Monday, August 18th. The technology company reported $2.65 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.63 by $0.02. The firm had revenue of $909.69 million during the quarter, compared to the consensus estimate of $880.19 million. Fabrinet had a net margin of 10.00% and a return on equity of 17.99%. The business's revenue for the quarter was up 20.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.41 EPS. Equities analysts expect that Fabrinet will post 9.4 EPS for the current year.

Insider Transactions at Fabrinet

In related news, COO Harpal Gill sold 18,675 shares of the company'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 transaction 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. This represents a 50.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.38% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Fabrinet

Institutional investors have recently added to or reduced their stakes in the stock. Cetera Investment Advisers increased its position in Fabrinet by 11.6% during the 1st quarter. Cetera Investment Advisers now owns 13,212 shares of the technology company's stock worth $2,610,000 after purchasing an additional 1,368 shares in the last quarter. Atria Wealth Solutions Inc. increased its position in Fabrinet by 40.8% in 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. Private Trust Co. NA increased its position in Fabrinet by 44.3% in the 1st quarter. Private Trust Co. NA now owns 166 shares of the technology company's stock valued at $33,000 after acquiring an additional 51 shares during the period. KBC Group NV increased its position in Fabrinet by 12.1% in the 1st quarter. KBC Group NV now owns 1,594 shares of the technology company's stock valued at $315,000 after acquiring an additional 172 shares during the period. Finally, T. Rowe Price Investment Management Inc. acquired a new position in Fabrinet in the 4th quarter valued at approximately $1,945,000. 97.38% of the stock is currently owned by institutional investors and hedge funds.

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.

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