Fabrinet (NYSE:FN) Receives $159.57 Average Price Target from Analysts

Shares of Fabrinet (NYSE:FN) have been assigned an average rating of “Moderate Buy” from the seven brokerages that are presently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $159.57.

FN has been the topic of a number of recent research reports. Northland Securities upgraded shares of Fabrinet from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $200.00 to $220.00 in a report on Thursday, March 21st. Rosenblatt Securities reaffirmed a “buy” rating and set a $230.00 target price on shares of Fabrinet in a report on Tuesday, February 6th. Needham & Company LLC decreased their price target on Fabrinet from $230.00 to $220.00 and set a “buy” rating for the company in a research note on Friday, March 22nd. Finally, JPMorgan Chase & Co. lifted their price objective on Fabrinet from $210.00 to $212.00 and gave the stock a “neutral” rating in a research note on Thursday, April 11th.

Insider Transactions at Fabrinet

In related news, Director Rollance E. Olson sold 10,000 shares of the company’s 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 completion of the sale, the director now owns 25,981 shares in the company, valued at $5,339,615.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.51% of the company’s stock.

Hedge Funds Weigh In On Fabrinet

Several institutional investors and hedge funds have recently bought and sold shares of FN. Congress Asset Management Co. MA purchased a new position in Fabrinet in the 4th quarter valued at approximately $99,045,000. Baillie Gifford & Co. raised its stake in shares of Fabrinet by 190.0% during the 4th quarter. Baillie Gifford & Co. now owns 563,805 shares of the technology company’s stock valued at $107,309,000 after purchasing an additional 369,389 shares during the period. FMR LLC lifted its holdings in Fabrinet by 9.7% during the 3rd quarter. FMR LLC now owns 1,987,726 shares of the technology company’s stock worth $331,195,000 after purchasing an additional 174,945 shares in the last quarter. Wellington Management Group LLP boosted its stake in Fabrinet by 21.3% in the 3rd quarter. Wellington Management Group LLP now owns 904,505 shares of the technology company’s stock worth $150,709,000 after purchasing an additional 159,037 shares during the period. Finally, Invesco Ltd. grew its holdings in Fabrinet by 55.5% during the 3rd quarter. Invesco Ltd. now owns 306,840 shares of the technology company’s stock valued at $51,126,000 after buying an additional 109,469 shares in the last quarter. 97.38% of the stock is owned by institutional investors.

Fabrinet Stock Up 5.4 %

Shares of FN stock opened at $188.83 on Thursday. Fabrinet has a twelve month low of $90.19 and a twelve month high of $229.02. The stock’s fifty day simple moving average is $189.62 and its 200 day simple moving average is $185.43. The firm has a market capitalization of $6.86 billion, a P/E ratio of 27.29 and a beta of 1.04.

Fabrinet (NYSE:FN) last released its quarterly earnings results on Monday, February 5th. The technology company reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.84 by $0.05. The company had revenue of $712.69 million for the quarter, compared to analysts’ expectations of $699.76 million. Fabrinet had a return on equity of 17.27% and a net margin of 9.35%. As a group, equities research analysts expect that Fabrinet will post 7.59 EPS for the current fiscal year.

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.