Brokerages Set Fabrinet (NYSE:FN) Price Target at $254.43

Fabrinet (NYSE:FN) has received an average rating of “Hold” from the seven analysts that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $252.14.

FN has been the topic of several recent analyst reports. JPMorgan Chase & Co. upped their price target on Fabrinet from $240.00 to $285.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. B. Riley lowered Fabrinet from a “neutral” rating to a “sell” rating and decreased their price target for the company from $194.00 to $178.00 in a research note on Wednesday. Barclays initiated coverage on Fabrinet in a research note on Thursday, November 14th. They issued an “equal weight” rating and a $292.00 price target on the stock. Needham & Company LLC initiated coverage on Fabrinet in a research note on Tuesday, November 5th. They issued a “buy” rating and a $280.00 price target on the stock. Finally, Rosenblatt Securities upped their price target on Fabrinet from $260.00 to $280.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th.

Fabrinet Stock Performance

NYSE FN opened at $230.50 on Monday. The stock’s fifty day moving average is $243.99 and its two-hundred day moving average is $237.24. The firm has a market capitalization of $8.36 billion, a P/E ratio of 27.28 and a beta of 0.95. Fabrinet has a fifty-two week low of $159.30 and a fifty-two week high of $278.38.

Fabrinet (NYSE:FN) last released its quarterly earnings data on Monday, November 4th. The technology company reported $2.39 earnings per share for the quarter, topping analysts’ consensus estimates of $2.38 by $0.01. The company had revenue of $804.20 million for the quarter, compared to analyst estimates of $771.24 million. Fabrinet had a return on equity of 18.08% and a net margin of 10.28%. The firm’s revenue for the quarter was up 17.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.78 earnings per share. As a group, sell-side analysts forecast that Fabrinet will post 9.1 EPS for the current year.

Insiders Place Their Bets

In other Fabrinet news, CFO Csaba Sverha sold 100 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $270.00, for a total transaction of $27,000.00. Following the sale, the chief financial officer now owns 19,347 shares in the company, valued at $5,223,690. This represents a 0.51 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Edward T. Archer sold 8,690 shares of the company’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $220.26, for a total value of $1,914,059.40. Following the sale, the executive vice president now owns 8,333 shares in the company, valued at approximately $1,835,426.58. This trade represents a 51.05 % decrease in their position. The disclosure for this sale can be found here. 0.38% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Epoch Investment Partners Inc. boosted its position in shares of Fabrinet by 291.0% in the 1st quarter. Epoch Investment Partners Inc. now owns 275,531 shares of the technology company’s stock valued at $52,081,000 after purchasing an additional 205,057 shares during the period. Driehaus Capital Management LLC boosted its position in shares of Fabrinet by 183.5% in the 2nd quarter. Driehaus Capital Management LLC now owns 277,978 shares of the technology company’s stock valued at $68,046,000 after purchasing an additional 179,943 shares during the period. Whale Rock Capital Management LLC boosted its position in shares of Fabrinet by 25.8% in the 3rd quarter. Whale Rock Capital Management LLC now owns 855,767 shares of the technology company’s stock valued at $202,338,000 after purchasing an additional 175,684 shares during the period. Clearbridge Investments LLC acquired a new stake in shares of Fabrinet in the 2nd quarter valued at about $27,911,000. Finally, World Investment Advisors LLC acquired a new stake in shares of Fabrinet in the 3rd quarter valued at about $20,187,000. Hedge funds and other institutional investors own 97.38% of the company’s stock.

Fabrinet Company Profile

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.