Fabrinet (NYSE:FN) had its price objective hoisted by investment analysts at B. Riley from $75.00 to $79.00 in a report released on Tuesday, The Fly reports. The firm currently has a "neutral" rating on the technology company's stock. B. Riley's price target suggests a potential downside of 7.03% from the stock's previous close. The analysts noted that the move was a valuation call.
Several other equities research analysts have also recently weighed in on FN. Stifel Nicolaus increased their target price on Fabrinet from $82.00 to $94.00 and gave the company a "buy" rating in a report on Tuesday, February 2nd. Royal Bank of Canada raised their price objective on Fabrinet from $50.00 to $53.00 and gave the company a "sector perform" rating in a research report on Tuesday. Needham & Company LLC raised their price objective on Fabrinet from $85.00 to $100.00 and gave the company a "buy" rating in a research report on Tuesday, February 2nd. Scotiabank reaffirmed a "hold" rating and set a $38.00 price objective on shares of Fabrinet in a research report on Wednesday, February 3rd. Finally, Northland Securities raised their price objective on Fabrinet from $80.00 to $90.00 and gave the company an "outperform" rating in a research report on Tuesday, January 12th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company has a consensus rating of "Buy" and a consensus target price of $72.10.
NYSE FN traded down $1.14 during trading on Tuesday, reaching $84.97. The company's stock had a trading volume of 8,039 shares, compared to its average volume of 159,783. The stock has a market capitalization of $3.13 billion, a PE ratio of 26.46 and a beta of 1.01. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.32 and a quick ratio of 2.37. The firm has a fifty day moving average of $89.77 and a 200 day moving average of $80.17. Fabrinet has a one year low of $54.38 and a one year high of $94.25.
Fabrinet (NYSE:FN) last announced its earnings results on Sunday, May 2nd. The technology company reported $1.21 earnings per share for the quarter, topping analysts' consensus estimates of $1.14 by $0.07. The business had revenue of $479.32 million for the quarter, compared to analyst estimates of $467.24 million. Fabrinet had a return on equity of 13.37% and a net margin of 7.18%. The company's quarterly revenue was up 16.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.92 EPS. Research analysts expect that Fabrinet will post 3.65 earnings per share for the current fiscal year.
In other Fabrinet news, EVP Edward T. Archer sold 2,260 shares of the business's stock in a transaction that occurred on Thursday, February 4th. The stock was sold at an average price of $86.85, for a total transaction of $196,281.00. Following the sale, the executive vice president now directly owns 26,211 shares of the company's stock, valued at $2,276,425.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Csaba Sverha sold 3,341 shares of the business's stock in a transaction that occurred on Friday, February 5th. The stock was sold at an average price of $87.10, for a total value of $291,001.10. Following the sale, the chief financial officer now directly owns 19,110 shares in the company, valued at $1,664,481. The disclosure for this sale can be found here. Insiders have sold 28,836 shares of company stock worth $2,524,905 over the last three months. 0.67% of the stock is currently owned by insiders.
Large investors have recently made changes to their positions in the business. Vantage Consulting Group Inc purchased a new stake in shares of Fabrinet in the fourth quarter valued at approximately $33,000. Nisa Investment Advisors LLC boosted its holdings in shares of Fabrinet by 25.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,000 shares of the technology company's stock valued at $78,000 after purchasing an additional 200 shares during the period. Bartlett & Co. LLC purchased a new stake in shares of Fabrinet in the fourth quarter valued at approximately $83,000. Meeder Asset Management Inc. purchased a new stake in shares of Fabrinet in the first quarter valued at approximately $100,000. Finally, Veriti Management LLC purchased a new stake in shares of Fabrinet in the fourth quarter valued at approximately $177,000. Institutional investors and hedge funds own 94.47% of the company's stock.
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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