Fabrinet (NYSE:FN) Stock Rating Reaffirmed by Rosenblatt Securities

Fabrinet (NYSE:FNGet Free Report)‘s stock had its “buy” rating reaffirmed by Rosenblatt Securities in a report released on Tuesday, Benzinga reports. They presently have a $230.00 target price on the technology company’s stock. Rosenblatt Securities’ price objective points to a potential upside of 19.15% from the stock’s current price.

A number of other research analysts have also recently issued reports on FN. Royal Bank of Canada boosted their target price on Fabrinet from $40.00 to $42.00 and gave the company a “sector perform” rating in a research note on Wednesday, November 1st. Northland Securities cut Fabrinet from an “outperform” rating to a “market perform” rating and set a $200.00 price objective for the company. in a research report on Tuesday. Finally, JPMorgan Chase & Co. cut Fabrinet from an “overweight” rating to a “neutral” rating and upped their price objective for the stock from $185.00 to $210.00 in a research report on Monday, January 8th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $148.57.

Read Our Latest Stock Analysis on FN

Fabrinet Stock Up 5.8 %

Shares of Fabrinet stock opened at $193.04 on Tuesday. Fabrinet has a 12 month low of $90.19 and a 12 month high of $229.02. The business has a fifty day simple moving average of $190.53 and a 200 day simple moving average of $166.40. The stock has a market cap of $7.01 billion, a PE ratio of 27.90 and a beta of 1.06.

Fabrinet (NYSE:FNGet Free Report) last announced its quarterly earnings data on Monday, November 6th. The technology company reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.64 by $0.14. Fabrinet had a return on equity of 17.66% and a net margin of 9.35%. The business had revenue of $685.48 million during the quarter, compared to analysts’ expectations of $659.33 million. Analysts expect that Fabrinet will post 7.52 EPS for the current fiscal year.

Insider Activity

In other news, Director Thomas F. Kelly sold 3,235 shares of the firm’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $166.75, for a total value of $539,436.25. Following the completion of the sale, the director now directly owns 29,797 shares of the company’s stock, valued at $4,968,649.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Thomas F. Kelly sold 3,000 shares of the stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $171.31, for a total transaction of $513,930.00. Following the transaction, the director now owns 36,532 shares in the company, valued at $6,258,296.92. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Thomas F. Kelly sold 3,235 shares of the stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $166.75, for a total value of $539,436.25. Following the transaction, the director now owns 29,797 shares in the company, valued at approximately $4,968,649.75. The disclosure for this sale can be found here. Insiders own 0.51% of the company’s stock.

Hedge Funds Weigh In On Fabrinet

A number of hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its stake in Fabrinet by 1.7% during the 1st quarter. BlackRock Inc. now owns 5,776,976 shares of the technology company’s stock worth $686,074,000 after acquiring an additional 93,882 shares during the period. Vanguard Group Inc. increased its stake in shares of Fabrinet by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 4,333,317 shares of the technology company’s stock valued at $722,017,000 after purchasing an additional 16,228 shares during the last quarter. FMR LLC increased its stake in shares of Fabrinet by 9.7% in the 3rd quarter. FMR LLC now owns 1,987,726 shares of the technology company’s stock valued at $331,195,000 after purchasing an additional 174,945 shares during the last quarter. Capital International Investors increased its stake in shares of Fabrinet by 9.4% in the 2nd quarter. Capital International Investors now owns 1,610,108 shares of the technology company’s stock valued at $209,121,000 after purchasing an additional 138,335 shares during the last quarter. Finally, State Street Corp increased its stake in shares of Fabrinet by 0.8% in the 2nd quarter. State Street Corp now owns 1,258,991 shares of the technology company’s stock valued at $163,518,000 after purchasing an additional 9,757 shares during the last quarter. Institutional investors own 97.38% of the company’s stock.

About Fabrinet

(Get Free Report)

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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