Fabrinet (NYSE:FN) Given New $212.00 Price Target at JPMorgan Chase & Co.

Fabrinet (NYSE:FN - Get Free Report) had its price target boosted by equities research analysts at JPMorgan Chase & Co. from $210.00 to $212.00 in a research report issued on Thursday, Benzinga reports. The firm currently has a "neutral" rating on the technology company's stock. JPMorgan Chase & Co.'s target price would suggest a potential upside of 18.78% from the stock's current price.

Several other research analysts have also issued reports on the stock. Rosenblatt Securities restated a "buy" rating and set a $230.00 price target on shares of Fabrinet in a report on Tuesday, February 6th. Northland Securities raised shares of Fabrinet from a "market perform" rating to an "outperform" rating and lifted their price objective for the stock from $200.00 to $220.00 in a report on Thursday, March 21st. Finally, Needham & Company LLC lowered their target price on Fabrinet from $230.00 to $220.00 and set a "buy" rating on the stock in a research note on Friday, March 22nd. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $159.57.

Fabrinet Price Performance

Shares of Fabrinet stock traded up $1.63 on Thursday, hitting $178.48. The company had a trading volume of 825,261 shares, compared to its average volume of 455,640. The firm has a market capitalization of $6.48 billion, a P/E ratio of 25.57 and a beta of 1.04. Fabrinet has a twelve month low of $90.19 and a twelve month high of $229.02. The stock has a 50-day moving average of $199.77 and a 200-day moving average of $184.99.

Fabrinet (NYSE:FN - Get Free Report) last issued its quarterly earnings data on Monday, February 5th. The technology company reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.84 by $0.05. Fabrinet had a net margin of 9.35% and a return on equity of 17.27%. The company had revenue of $712.69 million for the quarter, compared to analyst estimates of $699.76 million. Equities analysts predict that Fabrinet will post 7.64 EPS for the current year.

Insider Transactions at Fabrinet

In related news, Director Rollance E. Olson sold 10,000 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $205.52, for a total transaction of $2,055,200.00. Following the sale, the director now owns 25,981 shares in the company, valued at approximately $5,339,615.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.51% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Park Place Capital Corp acquired a new stake in Fabrinet in the fourth quarter valued at approximately $26,000. Salem Investment Counselors Inc. purchased a new stake in Fabrinet in the fourth quarter valued at $29,000. GAMMA Investing LLC purchased a new stake in Fabrinet in the fourth quarter valued at $34,000. Parallel Advisors LLC raised its position in Fabrinet by 59.7% in the fourth quarter. Parallel Advisors LLC now owns 206 shares of the technology company's stock valued at $39,000 after purchasing an additional 77 shares during the period. Finally, Federated Hermes Inc. raised its holdings in shares of Fabrinet by 652.6% in the 3rd quarter. Federated Hermes Inc. now owns 429 shares of the technology company's stock valued at $41,000 after buying an additional 372 shares during the period. 97.38% of the stock is currently owned by hedge funds and other 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.