Fabrinet (NYSE:FN) Receives $252.14 Consensus Price Target from Analysts

Fabrinet (NYSE:FN) has received a consensus rating of “Hold” from the seven analysts that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $252.14.

Several analysts have weighed in on the company. B. Riley lowered Fabrinet from a “neutral” rating to a “sell” rating and lowered their target price for the company from $194.00 to $178.00 in a report on Wednesday, November 20th. Barclays started coverage on shares of Fabrinet in a research note on Thursday, November 14th. They set an “equal weight” rating and a $292.00 price target on the stock. Finally, Needham & Company LLC assumed coverage on shares of Fabrinet in a research report on Tuesday, November 5th. They set a “buy” rating and a $280.00 price target for the company.

Institutional Trading of Fabrinet

Several hedge funds have recently made changes to their positions in the stock. Barclays PLC lifted its position in shares of Fabrinet by 304.6% during the 3rd quarter. Barclays PLC now owns 69,128 shares of the technology company’s stock valued at $16,345,000 after acquiring an additional 52,042 shares during the last quarter. nVerses Capital LLC acquired a new position in shares of Fabrinet during the 3rd quarter valued at about $567,000. Charles Schwab Investment Management Inc. grew its stake in Fabrinet by 14.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 480,550 shares of the technology company’s stock valued at $113,621,000 after buying an additional 61,491 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Fabrinet in the 3rd quarter worth approximately $2,398,000. Finally, Pathstone Holdings LLC increased its position in Fabrinet by 40.7% during the third quarter. Pathstone Holdings LLC now owns 8,219 shares of the technology company’s stock worth $1,943,000 after acquiring an additional 2,378 shares during the period. Institutional investors own 97.38% of the company’s stock.

Fabrinet Trading Up 4.9 %

FN stock opened at $226.85 on Friday. The stock has a market cap of $8.23 billion, a P/E ratio of 26.85 and a beta of 0.92. Fabrinet has a twelve month low of $159.69 and a twelve month high of $281.79. The company’s 50 day moving average is $231.04 and its two-hundred day moving average is $234.45.

Fabrinet (NYSE:FN) last issued its earnings results on Monday, February 3rd. The technology company reported $2.38 earnings per share for the quarter, missing the consensus estimate of $2.48 by ($0.10). Fabrinet had a net margin of 10.28% and a return on equity of 18.08%. On average, equities research analysts predict that Fabrinet will post 9.1 earnings per share for the current 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.