Fabrinet (NYSE:FN) Price Target Lowered to $245.00 at Barclays

Fabrinet (NYSE:FN) had its target price decreased by Barclays from $292.00 to $245.00 in a research report report published on Tuesday morning,Benzinga reports. Barclays currently has an equal weight rating on the technology company’s stock.

Other equities research analysts have also recently issued research reports about the company. Needham & Company LLC initiated coverage on Fabrinet in a research note on Tuesday, November 5th. They issued a “buy” rating and a $280.00 target price on the stock. B. Riley cut shares of Fabrinet from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $194.00 to $178.00 in a report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $243.29.

Fabrinet Stock Down 8.0 %

Shares of FN stock opened at $207.51 on Tuesday. Fabrinet has a 12-month low of $159.69 and a 12-month high of $281.79. The firm has a fifty day moving average of $231.00 and a 200-day moving average of $234.38. The company has a market capitalization of $7.53 billion, a price-to-earnings ratio of 24.56 and a beta of 0.92.

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

Hedge Funds Weigh In On Fabrinet

A number of institutional investors have recently added to or reduced their stakes in the company. Truist Financial Corp increased its position in Fabrinet by 14.9% during the second quarter. Truist Financial Corp now owns 5,871 shares of the technology company’s stock worth $1,437,000 after buying an additional 761 shares during the last quarter. Cetera Investment Advisers increased its holdings in shares of Fabrinet by 41.1% during the 2nd quarter. Cetera Investment Advisers now owns 11,166 shares of the technology company’s stock worth $2,733,000 after acquiring an additional 3,254 shares during the last quarter. Sanctuary Advisors LLC bought a new stake in Fabrinet in the 2nd quarter valued at $482,000. SG Americas Securities LLC raised its stake in Fabrinet by 93.9% in the 3rd quarter. SG Americas Securities LLC now owns 3,249 shares of the technology company’s stock valued at $768,000 after acquiring an additional 1,573 shares during the period. Finally, Park Avenue Securities LLC lifted its holdings in Fabrinet by 2.3% during the 3rd quarter. Park Avenue Securities LLC now owns 6,681 shares of the technology company’s stock valued at $1,580,000 after purchasing an additional 148 shares during the last quarter. 97.38% of the stock is currently owned by institutional investors and hedge funds.

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.